Tutor Perini (NYSE:TPC) Chairman Ronald N. 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 N. Tutor sold 83,144 shares of the business's stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $64.94, for a total value of $5,399,371.36. Following the sale, the chairman owned 4,062,985 shares of the company's stock, valued at $263,850,245.90. The trade was a 2.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Tutor Perini Price Performance

Shares of TPC traded up $1.38 during trading hours on Monday, hitting $66.86. 487,216 shares of the stock were exchanged, compared to its average volume of 555,178. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.32 and a current ratio of 1.32. Tutor Perini Corporation has a 12-month low of $18.33 and a 12-month high of $66.99. The company has a market cap of $3.53 billion, a price-to-earnings ratio of -26.53 and a beta of 1.88. The stock's 50-day moving average price is $55.40 and its two-hundred day moving average price is $40.07.

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

Hedge Funds Weigh In On Tutor Perini

Several large investors have recently modified their holdings of TPC. GAMMA Investing LLC lifted its stake in Tutor Perini by 32.5% during the 1st quarter. GAMMA Investing LLC now owns 2,080 shares of the construction company's stock worth $48,000 after acquiring an additional 510 shares in the last quarter. New Age Alpha Advisors LLC acquired a new position in Tutor Perini during the 1st quarter worth about $54,000. Comerica Bank lifted its stake in Tutor Perini by 30.7% during the 1st quarter. Comerica Bank now owns 2,423 shares of the construction company's stock worth $56,000 after acquiring an additional 569 shares in the last quarter. CWM LLC lifted its stake in Tutor Perini by 32.8% during the 1st quarter. CWM LLC now owns 3,442 shares of the construction company's stock worth $80,000 after acquiring an additional 850 shares in the last quarter. Finally, AlphaQuest LLC lifted its stake in Tutor Perini by 849.2% during the 1st quarter. AlphaQuest LLC now owns 3,436 shares of the construction company's stock worth $80,000 after acquiring an additional 3,074 shares in the last quarter. Institutional investors and hedge funds own 65.01% of the company's stock.

Analysts Set New Price Targets

TPC has been the topic of a number of recent research reports. UBS Group boosted their price objective on Tutor Perini from $59.00 to $67.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Zacks Research raised Tutor Perini to a "strong-buy" rating in a research note on Friday, August 8th. B. Riley boosted their price objective on Tutor Perini from $50.00 to $75.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Finally, Wall Street Zen raised Tutor Perini from a "buy" rating to a "strong-buy" rating in a research note on Monday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average 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.