Tutor Perini Co. (NYSE:TPC) Chairman Sells $1,872,500.00 in Stock

Tutor Perini Co. (NYSE:TPC - Get Free Report) Chairman Ronald N. Tutor sold 50,000 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $37.45, for a total transaction of $1,872,500.00. Following the transaction, the chairman now directly owns 1,011,477 shares in the company, valued at $37,879,813.65. The trade was a 4.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Tutor Perini Stock Up 4.3%

TPC stock traded up $1.65 during trading hours on Friday, hitting $40.54. The company's stock had a trading volume of 1,340,702 shares, compared to its average volume of 548,703. The stock has a 50 day moving average price of $27.94 and a two-hundred day moving average price of $25.95. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.53. Tutor Perini Co. has a 12 month low of $14.50 and a 12 month high of $40.73. The company has a market capitalization of $2.14 billion, a PE ratio of -16.15 and a beta of 1.74.

Tutor Perini (NYSE:TPC - Get Free Report) last released its earnings results on Wednesday, May 7th. The construction company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.06 by $0.47. The firm had revenue of $1.25 billion during the quarter, compared to analysts' expectations of $1.08 billion. Tutor Perini had a negative net margin of 3.08% and a negative return on equity of 9.56%. The business's quarterly revenue was up 18.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.30 EPS.

Hedge Funds Weigh In On Tutor Perini

Large investors have recently bought and sold shares of the stock. Barclays PLC raised its stake in Tutor Perini by 298.0% during the 3rd quarter. Barclays PLC now owns 69,875 shares of the construction company's stock valued at $1,898,000 after purchasing an additional 52,319 shares during the last quarter. Ameriprise Financial Inc. raised its stake in Tutor Perini by 8.8% during the 4th quarter. Ameriprise Financial Inc. now owns 211,843 shares of the construction company's stock valued at $5,127,000 after purchasing an additional 17,217 shares during the last quarter. Millennium Management LLC raised its stake in shares of Tutor Perini by 90.8% in the 4th quarter. Millennium Management LLC now owns 144,597 shares of the construction company's stock valued at $3,499,000 after buying an additional 68,807 shares in the last quarter. Deutsche Bank AG raised its stake in shares of Tutor Perini by 34.2% in the 4th quarter. Deutsche Bank AG now owns 48,285 shares of the construction company's stock valued at $1,168,000 after buying an additional 12,296 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of Tutor Perini by 10.4% in the 4th quarter. Franklin Resources Inc. now owns 88,216 shares of the construction company's stock valued at $2,135,000 after buying an additional 8,309 shares in the last quarter. 65.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on TPC. Wall Street Zen raised shares of Tutor Perini from a "hold" rating to a "buy" rating in a research report on Thursday, May 8th. B. Riley reissued a "buy" rating and issued a $50.00 target price (up from $40.00) on shares of Tutor Perini in a research report on Friday. Finally, UBS Group boosted their target price on shares of Tutor Perini from $40.00 to $41.00 and gave the stock a "buy" rating in a research report on Friday, May 9th.

Tutor Perini Company Profile

Tutor Perini Corporation, a construction company, provides diversified general contracting, construction management, and design-build services to private customers and public agencies in the United States and internationally. It operates through three segments: Civil, Building, and Specialty Contractors.