Insider Selling: Tutor Perini Corp (TPC) CEO Sells 50,000 Shares of Stock

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Tutor Perini Corp (NYSE:TPC) CEO Ronald N. Tutor sold 50,000 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $16.55, for a total transaction of $827,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Shares of TPC stock traded down $0.28 on Thursday, hitting $16.59. The stock had a trading volume of 1,915 shares, compared to its average volume of 382,622. Tutor Perini Corp has a twelve month low of $14.66 and a twelve month high of $22.02. The firm has a market capitalization of $827.21 million, a price-to-earnings ratio of 8.70, a price-to-earnings-growth ratio of 0.79 and a beta of 1.92. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.49.

Tutor Perini (NYSE:TPC) last announced its quarterly earnings results on Wednesday, May 8th. The construction company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.06). The firm had revenue of $958.49 million during the quarter, compared to analyst estimates of $1.01 billion. Tutor Perini had a net margin of 2.17% and a return on equity of 5.42%. Research analysts expect that Tutor Perini Corp will post 2.11 earnings per share for the current year.

Several equities analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Tutor Perini from a “buy” rating to a “hold” rating in a report on Saturday, May 11th. ValuEngine lowered shares of Tutor Perini from a “sell” rating to a “strong sell” rating in a report on Thursday, May 9th. TheStreet raised shares of Tutor Perini from a “c+” rating to a “b-” rating in a report on Wednesday, March 20th. MKM Partners set a $27.00 price target on shares of Tutor Perini and gave the company a “buy” rating in a report on Thursday, February 28th. Finally, UBS Group lowered shares of Tutor Perini from a “buy” rating to a “neutral” rating and decreased their price target for the company from $24.00 to $19.00 in a report on Friday, February 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $22.17.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Frontier Capital Management Co. LLC boosted its stake in Tutor Perini by 14.9% in the 4th quarter. Frontier Capital Management Co. LLC now owns 4,775,719 shares of the construction company’s stock worth $76,268,000 after purchasing an additional 618,081 shares during the period. Vanguard Group Inc boosted its stake in Tutor Perini by 1.9% in the 3rd quarter. Vanguard Group Inc now owns 3,536,522 shares of the construction company’s stock worth $66,488,000 after purchasing an additional 65,931 shares during the period. Vanguard Group Inc. boosted its stake in Tutor Perini by 1.9% in the 3rd quarter. Vanguard Group Inc. now owns 3,536,522 shares of the construction company’s stock worth $66,488,000 after purchasing an additional 65,931 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its stake in Tutor Perini by 29.4% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 3,243,717 shares of the construction company’s stock worth $55,532,000 after purchasing an additional 736,620 shares during the period. Finally, BlackRock Inc. boosted its stake in Tutor Perini by 7.4% in the 4th quarter. BlackRock Inc. now owns 2,753,232 shares of the construction company’s stock worth $43,972,000 after purchasing an additional 188,564 shares during the period. 91.25% of the stock is owned by hedge funds and other institutional investors.

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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 worldwide. The company operates through three segments: Civil, Building, and Specialty Contractors. The Civil segment engages in the public works construction, replacement, and reconstruction of infrastructure, including highways, bridges, tunnels, mass-transit systems, and water management and wastewater treatment facilities.

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