Tutor Perini (NYSE:TPC) Chairman Ronald Tutor Sells 83,144 Shares

Key Points

• Tutor Perini Chairman Ronald Tutor sold 83,144 shares of the company at an average price of $64.94, resulting in a transaction total of approximately $5.4 million.
• Following the sale, Tutor Perini's share price on Friday was recorded at $65.48, with the company achieving a market capitalization of $3.45 billion.
• Wall Street analysts have recently upgraded Tutor Perini's stock to a "strong-buy" rating, with target prices raised significantly, reflecting growing investor confidence.

Tutor Perini Corporation (NYSE:TPC - Get Free Report) Chairman Ronald Tutor sold 83,144 shares of the business's stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $64.94, for a total transaction of $5,399,371.36. Following the completion of the transaction, the chairman owned 4,062,985 shares in the company, valued at approximately $263,850,245.90. This trade represents a 2.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Tutor Perini Price Performance

NYSE:TPC traded down $0.74 on Friday, reaching $65.48. The stock had a trading volume of 928,935 shares, compared to its average volume of 539,304. The company has a market capitalization of $3.45 billion, a P/E ratio of -25.98 and a beta of 1.88. Tutor Perini Corporation has a 1-year low of $18.33 and a 1-year high of $66.74. 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 fifty day moving average price of $55.04 and a 200-day moving average price of $39.62.

Tutor Perini (NYSE:TPC - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The construction company reported $1.41 EPS for the quarter, beating analysts' consensus estimates of $0.29 by $1.12. The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates 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 for the quarter was up 21.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.02 earnings per share.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Wall Street Zen upgraded shares of Tutor Perini from a "buy" rating to a "strong-buy" rating in a research report on Monday, August 11th. B. Riley upped their target price on shares of Tutor Perini from $50.00 to $75.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. UBS Group upped their target price on shares of Tutor Perini from $59.00 to $67.00 and gave the stock a "buy" rating in a research 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 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.com, the company currently has a consensus rating of "Buy" and an average target price of $60.00.

Institutional Investors Weigh In On Tutor Perini

Institutional investors and hedge funds have recently modified their holdings of the business. First Trust Advisors LP increased its stake in Tutor Perini by 4,166.1% in the second quarter. First Trust Advisors LP now owns 1,153,214 shares of the construction company's stock valued at $53,947,000 after purchasing an additional 1,126,182 shares in the last quarter. Donald Smith & CO. Inc. boosted its holdings in shares of Tutor Perini by 16.8% in the first quarter. Donald Smith & CO. Inc. now owns 4,031,220 shares of the construction company's stock valued at $93,444,000 after buying an additional 580,963 shares during the period. Pacer Advisors Inc. acquired a new position in shares of Tutor Perini in the first quarter valued at approximately $13,122,000. Prudential Financial Inc. boosted its holdings in shares of Tutor Perini by 438.4% in the second quarter. Prudential Financial Inc. now owns 610,720 shares of the construction company's stock valued at $28,569,000 after buying an additional 497,296 shares during the period. Finally, Amanah Holdings Trust acquired a new position in shares of Tutor Perini in the second quarter valued at approximately $19,163,000. 65.01% of the stock is owned by institutional investors.

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.

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