Ronald N. Tutor Sells 3,617 Shares of Tutor Perini Corporation (TPC) Stock
Tutor Perini Corporation (NYSE:TPC) CEO Ronald N. Tutor sold 3,617 shares of the stock in a transaction on Monday, September 11th. The shares were sold at an average price of $26.02, for a total value of $94,114.34. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.
Tutor Perini Corporation (NYSE TPC) traded down 0.57% during trading on Wednesday, hitting $26.30. The stock had a trading volume of 229,438 shares. Tutor Perini Corporation has a 52-week low of $18.05 and a 52-week high of $33.00. The company’s 50 day moving average is $25.93 and its 200 day moving average is $28.15. The firm has a market cap of $1.31 billion, a PE ratio of 12.93 and a beta of 2.45.
Tutor Perini Corporation (NYSE:TPC) last issued its quarterly earnings results on Monday, August 7th. The construction company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. The business had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.42 billion. Tutor Perini Corporation had a return on equity of 6.60% and a net margin of 2.08%. The business’s quarterly revenue was down 4.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.43 earnings per share. Equities research analysts forecast that Tutor Perini Corporation will post $2.26 earnings per share for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. acquired a new position in shares of Tutor Perini Corporation in the 1st quarter valued at $101,000. Envestnet Asset Management Inc. increased its position in shares of Tutor Perini Corporation by 8.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 4,516 shares of the construction company’s stock valued at $144,000 after acquiring an additional 340 shares during the period. Pinnacle Associates Ltd. acquired a new position in shares of Tutor Perini Corporation in the 1st quarter valued at $205,000. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Tutor Perini Corporation in the 1st quarter valued at $218,000. Finally, BNP Paribas Arbitrage SA increased its position in shares of Tutor Perini Corporation by 239.8% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 8,112 shares of the construction company’s stock valued at $233,000 after acquiring an additional 5,725 shares during the period. 81.11% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have commented on the company. Zacks Investment Research downgraded Tutor Perini Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, July 6th. BidaskClub upgraded Tutor Perini Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, July 6th. Canaccord Genuity restated a “buy” rating on shares of Tutor Perini Corporation in a research note on Friday, June 23rd. Finally, KeyCorp restated a “hold” rating on shares of Tutor Perini Corporation in a research note on Friday, August 25th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $31.29.
About Tutor Perini Corporation
Tutor Perini Corporation is a construction company offering general contracting, construction management and design-build services to private customers and public agencies across the world. The Company operates through three segments: Civil, Building and Specialty Contractors. Its Civil segment specializes in public works construction and the repair, replacement and reconstruction of infrastructure across various geographic regions of the United States.
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