Tutor Perini Co. (NYSE:TPC) Chairman Ronald N. Tutor Sells 50,000 Shares

Tutor Perini Co. (NYSE:TPC - Get Free Report) Chairman Ronald N. Tutor sold 50,000 shares of the firm'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 value of $1,872,500.00. Following the completion of the transaction, the chairman now owns 1,011,477 shares of the company's stock, valued at approximately $37,879,813.65. The trade was a 4.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Tutor Perini Stock Up 4.3%

TPC stock traded up $1.65 during trading on Friday, hitting $40.54. 1,340,699 shares of the stock traded hands, compared to its average volume of 548,383. The stock has a market cap of $2.14 billion, a price-to-earnings ratio of -16.15 and a beta of 1.62. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.55 and a quick ratio of 1.55. Tutor Perini Co. has a 1 year low of $14.50 and a 1 year high of $40.70. The firm's 50 day moving average is $27.59 and its two-hundred day moving average is $25.91.

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

Institutional Trading of Tutor Perini

A number of institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC lifted its holdings in shares of Tutor Perini by 32.5% during the first quarter. GAMMA Investing LLC now owns 2,080 shares of the construction company's stock valued at $48,000 after purchasing an additional 510 shares in the last quarter. New Age Alpha Advisors LLC purchased a new position in shares of Tutor Perini during the first quarter valued at approximately $54,000. Comerica Bank lifted its position in Tutor Perini by 30.7% during the first quarter. Comerica Bank now owns 2,423 shares of the construction company's stock valued at $56,000 after purchasing an additional 569 shares during the period. AlphaQuest LLC grew its position in Tutor Perini by 849.2% in the 1st quarter. AlphaQuest LLC now owns 3,436 shares of the construction company's stock worth $80,000 after purchasing an additional 3,074 shares during the period. Finally, CWM LLC grew its position in Tutor Perini by 32.8% during the first quarter. CWM LLC now owns 3,442 shares of the construction company's stock valued at $80,000 after buying an additional 850 shares during the period. Institutional investors own 65.01% of the company's stock.

Analysts Set New Price Targets

TPC has been the subject of several recent research reports. B. Riley reissued a "buy" rating and set a $50.00 price objective (up previously from $40.00) on shares of Tutor Perini in a research report on Friday. UBS Group boosted their price objective on shares of Tutor Perini from $40.00 to $41.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Finally, Wall Street Zen upgraded Tutor Perini from a "hold" rating to a "buy" rating in a research note on Thursday, May 8th.

About Tutor Perini

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.