Tutor Perini (NYSE:TPC) Stock Price Down 50.7% After Insider Selling

Tutor Perini Co. (NYSE:TPC - Get Free Report) was down 50.7% during trading on Thursday after an insider sold shares in the company. The stock traded as low as $38.18 and last traded at $19.05. Approximately 227,065 shares were traded during mid-day trading, a decline of 58% from the average daily volume of 545,087 shares. The stock had previously closed at $38.61.

Specifically, Chairman Ronald N. Tutor sold 100,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $38.62, for a total value of $3,862,000.00. Following the completion of the sale, the chairman now owns 4,730,985 shares of the company's stock, valued at $182,710,640.70. This trade represents a 2.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Ronald N. Tutor sold 50,000 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $37.45, for a total transaction of $1,872,500.00. Following the completion of the sale, the chairman now directly owns 1,011,477 shares of the company's stock, valued at approximately $37,879,813.65. This represents a 4.71% decrease in their position. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

A number of analysts recently 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. B. Riley restated a "buy" rating and set a $50.00 target price (up from $40.00) on shares of Tutor Perini in a research report on Friday. Finally, UBS Group upped their target price on shares of Tutor Perini from $40.00 to $41.00 and gave the company a "buy" rating in a research report on Friday, May 9th.

Tutor Perini Trading Up 4.3%

The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.55 and a current ratio of 1.55. The company has a market capitalization of $2.14 billion, a price-to-earnings ratio of -16.15 and a beta of 1.74. The business's 50-day simple moving average is $27.94 and its 200-day simple moving average is $25.97.

Tutor Perini (NYSE:TPC - Get Free Report) last released its earnings results on Wednesday, May 7th. The construction company reported $0.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the prior year, the company posted $0.30 EPS. The company's revenue was up 18.8% compared to the same quarter last year.

Institutional Trading of Tutor Perini

A number of institutional investors and hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC increased its stake in shares of Tutor Perini by 32.5% in the 1st quarter. GAMMA Investing LLC now owns 2,080 shares of the construction company's stock valued at $48,000 after acquiring an additional 510 shares during the last quarter. Aristeia Capital L.L.C. increased its stake in shares of Tutor Perini by 4.6% in the 1st quarter. Aristeia Capital L.L.C. now owns 11,957 shares of the construction company's stock valued at $277,000 after acquiring an additional 530 shares during the last quarter. Comerica Bank increased its stake in shares of Tutor Perini by 30.7% in the 1st quarter. Comerica Bank now owns 2,423 shares of the construction company's stock valued at $56,000 after acquiring an additional 569 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in shares of Tutor Perini by 7.3% in the 4th quarter. Commonwealth Equity Services LLC now owns 10,291 shares of the construction company's stock valued at $249,000 after acquiring an additional 700 shares during the last quarter. Finally, CWM LLC increased its stake in shares of Tutor Perini by 32.8% in the 1st quarter. CWM LLC now owns 3,442 shares of the construction company's stock valued at $80,000 after acquiring an additional 850 shares during the last quarter. 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.