Insider Selling: Tutor Perini Co. (NYSE:TPC) Director Sells 50,000 Shares of Stock

Tutor Perini Co. (NYSE:TPC) Director Raymond R. Oneglia sold 50,000 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $28.68, for a total transaction of $1,434,000.00. Following the sale, the director now owns 250,000 shares of the company’s stock, valued at $7,170,000. This trade represents a 16.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link.

Tutor Perini Stock Down 0.6 %

Tutor Perini stock opened at $28.52 on Friday. 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 stock has a market cap of $1.50 billion, a PE ratio of -11.36 and a beta of 1.50. Tutor Perini Co. has a fifty-two week low of $7.83 and a fifty-two week high of $34.55. The firm’s 50-day simple moving average is $27.31 and its 200 day simple moving average is $23.66.

Tutor Perini (NYSE:TPC) last announced its quarterly earnings data on Wednesday, November 6th. The construction company reported ($1.92) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.89) by ($0.03). Tutor Perini had a negative net margin of 3.08% and a negative return on equity of 9.56%. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter last year, the company earned ($0.71) EPS. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. Research analysts predict that Tutor Perini Co. will post -1.47 EPS for the current fiscal year.

Institutional Investors Weigh In On Tutor Perini

Hedge funds have recently modified their holdings of the stock. Fred Alger Management LLC purchased a new stake in Tutor Perini in the third quarter worth $16,034,000. Hennessy Advisors Inc. bought a new position in shares of Tutor Perini during the 2nd quarter worth $12,362,000. Jacobs Levy Equity Management Inc. increased its holdings in Tutor Perini by 129.4% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 783,396 shares of the construction company’s stock worth $21,277,000 after acquiring an additional 441,858 shares during the last quarter. American Century Companies Inc. raised its stake in Tutor Perini by 59.9% in the 2nd quarter. American Century Companies Inc. now owns 759,665 shares of the construction company’s stock valued at $16,546,000 after acquiring an additional 284,627 shares during the period. Finally, Acadian Asset Management LLC lifted its holdings in Tutor Perini by 84.4% during the second quarter. Acadian Asset Management LLC now owns 539,336 shares of the construction company’s stock valued at $11,742,000 after purchasing an additional 246,901 shares during the last quarter. Institutional investors own 65.01% of the company’s stock.

Wall Street Analysts Forecast Growth

TPC has been the subject of several recent research reports. UBS Group boosted their target price on shares of Tutor Perini from $27.00 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. B. Riley increased their price objective on Tutor Perini from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, StockNews.com cut Tutor Perini from a “buy” rating to a “hold” rating in a research report on Friday, November 15th.

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.