Tutor Perini (NYSE:TPC) Trading Down 50.7% on Insider Selling

Tutor Perini Co. (NYSE:TPC - Get Free Report) fell 50.7% during trading on Thursday following insider selling activity. The stock traded as low as $38.18 and last traded at $19.05. 227,065 shares were traded during trading, a decline of 58% from the average session volume of 545,087 shares. The stock had previously closed at $38.61.

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

Wall Street Analysts Forecast Growth

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

Tutor Perini Stock Performance

The firm has a 50 day simple moving average of $27.94 and a 200-day simple moving average of $25.99. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.55 and a quick ratio of 1.55. The company has a market cap of $2.14 billion, a price-to-earnings ratio of -16.15 and a beta of 1.62.

Tutor Perini (NYSE:TPC - Get Free Report) last posted its earnings results on Wednesday, May 7th. The construction company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.47. The company had revenue of $1.25 billion during the quarter, compared to analysts' expectations of $1.08 billion. Tutor Perini had a negative return on equity of 9.56% and a negative net margin of 3.08%. The firm's quarterly revenue was up 18.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.30 earnings per share.

Institutional Investors Weigh In On Tutor Perini

A number of institutional investors have recently modified their holdings of TPC. Donald Smith & CO. Inc. grew its stake 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 in the last quarter. Boston Partners grew its stake in shares of Tutor Perini by 1,801.4% in the fourth quarter. Boston Partners now owns 605,450 shares of the construction company's stock valued at $14,666,000 after buying an additional 573,608 shares in the last quarter. Pacer Advisors Inc. acquired a new stake in shares of Tutor Perini in the first quarter valued at $13,122,000. Fred Alger Management LLC grew its stake in shares of Tutor Perini by 91.9% in the fourth quarter. Fred Alger Management LLC now owns 1,133,014 shares of the construction company's stock valued at $27,419,000 after buying an additional 542,647 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in shares of Tutor Perini by 74.6% in the fourth quarter. First Trust Advisors LP now owns 938,478 shares of the construction company's stock valued at $22,711,000 after buying an additional 401,117 shares in the last quarter. 65.01% of the stock is 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.