Insider Selling: Tutor Perini (NYSE:TPC) Director Sells 124,668 Shares of Stock

Key Points

• Tutor Perini Director Sidney Feltenstein sold 124,668 shares of the company stock, reducing his ownership by nearly 40% and generating approximately $8.22 million from the sale.
• The company reported earnings of $1.41 EPS for the previous quarter, significantly exceeding analysts' expectations of $0.29 EPS, and achieved revenue of $1.37 billion.
• Several analysts have recently upgraded Tutor Perini's stock rating to strong-buy with a price target increase, including a rise from $59.00 to $67.00 by UBS Group.

Tutor Perini Corporation (NYSE:TPC - Get Free Report) Director Sidney J. Feltenstein sold 124,668 shares of the firm's stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $65.96, for a total transaction of $8,223,101.28. Following the completion of the transaction, the director directly owned 187,274 shares of the company's stock, valued at approximately $12,352,593.04. This trade represents a 39.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Tutor Perini Stock Performance

Shares of NYSE TPC traded up $1.38 during mid-day trading on Monday, reaching $66.86. 487,216 shares of the company were exchanged, compared to its average volume of 555,178. The company's 50-day simple moving average is $55.40 and its 200-day simple moving average is $40.07. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $3.53 billion, a P/E ratio of -26.53 and a beta of 1.88. Tutor Perini Corporation has a twelve month low of $18.33 and a twelve month high of $66.99.

Tutor Perini (NYSE:TPC - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.27 billion. Tutor Perini had a negative net margin of 2.77% and a negative return on equity of 6.41%. The business's revenue was up 21.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.02 EPS.

Institutional Trading of Tutor Perini

A number of hedge funds and other institutional investors have recently modified their holdings of TPC. GAMMA Investing LLC boosted its stake in Tutor Perini by 32.5% in the 1st quarter. GAMMA Investing LLC now owns 2,080 shares of the construction company's stock worth $48,000 after purchasing an additional 510 shares in the last quarter. New Age Alpha Advisors LLC bought a new position in Tutor Perini during the 1st quarter valued at about $54,000. Comerica Bank increased its position in shares of Tutor Perini by 30.7% during the 1st 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 increased its position in shares of Tutor Perini by 32.8% during the 1st 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 increased its position in shares of Tutor Perini by 849.2% during the 1st 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 owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Wall Street Zen upgraded shares of Tutor Perini from a "buy" rating to a "strong-buy" rating in a report on Monday, August 11th. B. Riley raised their price objective on shares of Tutor Perini from $50.00 to $75.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. UBS Group raised their price objective on shares of Tutor Perini from $59.00 to $67.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Finally, Zacks Research upgraded shares of Tutor Perini to a "strong-buy" rating in a research report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $60.00.

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.