Tutor Perini Co. (NYSE:TPC) Chairman Sells $3,862,000.00 in Stock

Tutor Perini Co. (NYSE:TPC - Get Free Report) Chairman Ronald N. Tutor sold 100,000 shares of Tutor Perini stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $38.62, for a total transaction of $3,862,000.00. Following the completion of the transaction, the chairman now directly owns 4,730,985 shares of the company's stock, valued at $182,710,640.70. The trade was a 2.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Tutor Perini Price Performance

Shares of NYSE TPC traded up $1.65 during trading on Friday, hitting $40.54. The company had a trading volume of 1,340,702 shares, compared to its average volume of 548,703. The stock has a fifty day simple moving average of $27.94 and a two-hundred day simple moving average of $25.95. Tutor Perini Co. has a fifty-two week low of $14.50 and a fifty-two week high of $40.73. The firm has a market capitalization of $2.14 billion, a price-to-earnings ratio of -16.15 and a beta of 1.74. 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 (NYSE:TPC - Get Free Report) last announced its earnings results on Wednesday, May 7th. The construction company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same quarter last year, the business earned $0.30 earnings per share. The company's revenue for the quarter was up 18.8% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on TPC shares. Wall Street Zen raised shares of Tutor Perini from a "hold" rating to a "buy" rating in a report on Thursday, May 8th. UBS Group lifted their price objective on shares of Tutor Perini from $40.00 to $41.00 and gave the company a "buy" rating in a report on Friday, May 9th. Finally, B. Riley reiterated a "buy" rating and issued a $50.00 target price (up previously from $40.00) on shares of Tutor Perini in a research report on Friday.

Hedge Funds Weigh In On Tutor Perini

A number of institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC boosted 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 worth $48,000 after acquiring an additional 510 shares during the last quarter. Aristeia Capital L.L.C. boosted its position in Tutor Perini by 4.6% during the first quarter. Aristeia Capital L.L.C. now owns 11,957 shares of the construction company's stock worth $277,000 after acquiring an additional 530 shares during the last quarter. Comerica Bank boosted 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 worth $56,000 after acquiring an additional 569 shares during the last quarter. Commonwealth Equity Services LLC boosted its position in Tutor Perini by 7.3% during the fourth quarter. Commonwealth Equity Services LLC now owns 10,291 shares of the construction company's stock worth $249,000 after acquiring an additional 700 shares during the last quarter. Finally, CWM LLC boosted 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 worth $80,000 after acquiring an additional 850 shares during the last quarter. 65.01% of the stock is currently owned by institutional investors and hedge funds.

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.