Ronald N. Tutor Sells 80,660 Shares of Tutor Perini (NYSE:TPC) Stock

Key Points

• Tutor Perini Chairman Ronald Tutor sold 80,660 shares of stock at an average price of $59.95, amounting to $4.83 million, resulting in a 1.83% decrease in his holdings.
• Despite the sale, Tutor Perini stock saw a slight increase of 0.4% during mid-day trading, reaching $59.16 with a market capitalization of $3.12 billion.
• Recent analyst reports have upgraded Tutor Perini to a "strong-buy" rating, with price targets raised significantly by firms such as B. Riley and UBS Group.

Tutor Perini Corporation (NYSE:TPC - Get Free Report) Chairman Ronald N. Tutor sold 80,660 shares of Tutor Perini stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $59.95, for a total transaction of $4,835,567.00. Following the completion of the transaction, the chairman owned 4,315,297 shares of the company's stock, valued at $258,702,055.15. The trade was a 1.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Tutor Perini Stock Performance

Shares of TPC traded up $1.54 during trading hours on Friday, hitting $62.54. The company's stock had a trading volume of 630,530 shares, compared to its average volume of 593,947. The company has a market cap of $3.30 billion, a price-to-earnings ratio of -24.82 and a beta of 1.88. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.32 and a quick ratio of 1.32. The business has a 50 day simple moving average of $51.83 and a two-hundred day simple moving average of $37.05. Tutor Perini Corporation has a 52-week low of $18.33 and a 52-week high of $63.96.

Tutor Perini (NYSE:TPC - Get Free Report) last posted its earnings results on Wednesday, August 6th. The construction company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $0.29 by $1.12. The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.27 billion. Tutor Perini had a negative net margin of 2.77% and a negative return on equity of 6.41%. The company's revenue was up 21.8% on a year-over-year basis. During the same quarter last year, the company earned $0.02 earnings per share.

Institutional Investors Weigh In On Tutor Perini

Hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC lifted its position in 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 during the last quarter. New Age Alpha Advisors LLC bought a new stake in 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 last quarter. CWM LLC lifted 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 purchasing an additional 850 shares during the last quarter. Finally, AlphaQuest LLC lifted its position in Tutor Perini by 849.2% during the first quarter. AlphaQuest LLC now owns 3,436 shares of the construction company's stock valued at $80,000 after purchasing an additional 3,074 shares during the last quarter. 65.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TPC. UBS Group lifted their target price on shares of Tutor Perini from $59.00 to $67.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. B. Riley boosted their price objective on shares of Tutor Perini from $50.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Wall Street Zen raised shares of Tutor Perini from a "buy" rating to a "strong-buy" rating in a research note on Monday, August 11th. Finally, Zacks Research raised shares of Tutor Perini to a "strong-buy" rating in a research note on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $60.00.

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.