Insider Selling: Tutor Perini Corporation (TPC) Major Shareholder Sells 25,000 Shares of Stock
Tutor Perini Corporation (NYSE:TPC) major shareholder N. Tutor Separate Prope Ronald sold 25,000 shares of Tutor Perini Corporation stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $26.11, for a total transaction of $652,750.00. Following the transaction, the insider now directly owns 5,923,120 shares in the company, valued at approximately $154,652,663.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Tutor Perini Corporation (NYSE TPC) traded up 1.17% during midday trading on Friday, hitting $25.95. 182,065 shares of the stock traded hands. The company’s 50 day moving average price is $26.10 and its 200 day moving average price is $28.22. Tutor Perini Corporation has a 12 month low of $18.05 and a 12 month high of $33.00. The firm has a market cap of $1.29 billion, a PE ratio of 12.76 and a beta of 2.45.
Tutor Perini Corporation (NYSE:TPC) last released its quarterly earnings data on Monday, August 7th. The construction company reported $0.59 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.02. Tutor Perini Corporation had a return on equity of 6.60% and a net margin of 2.08%. The business had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the prior year, the firm posted $0.43 EPS. The business’s quarterly revenue was down 4.7% compared to the same quarter last year. Equities research analysts predict that Tutor Perini Corporation will post $2.26 earnings per share for the current fiscal year.
Large investors have recently made changes to their positions in the company. Ameritas Investment Partners Inc. purchased a new position in shares of Tutor Perini Corporation during the 1st quarter valued at approximately $101,000. Envestnet Asset Management Inc. lifted its position in shares of Tutor Perini Corporation by 8.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 4,516 shares of the construction company’s stock valued at $144,000 after buying an additional 340 shares in the last quarter. Pinnacle Associates Ltd. purchased a new position in shares of Tutor Perini Corporation during the 1st quarter valued at approximately $205,000. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Tutor Perini Corporation during the 1st quarter valued at approximately $218,000. Finally, BNP Paribas Arbitrage SA lifted its position in shares of Tutor Perini Corporation by 239.8% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 8,112 shares of the construction company’s stock valued at $233,000 after buying an additional 5,725 shares in the last quarter. Hedge funds and other institutional investors own 81.11% of the company’s stock.
Several equities analysts have weighed in on TPC shares. Canaccord Genuity reaffirmed a “buy” rating on shares of Tutor Perini Corporation in a report on Friday, June 23rd. BidaskClub raised shares of Tutor Perini Corporation from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 27th. Zacks Investment Research raised shares of Tutor Perini Corporation from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a report on Wednesday, July 5th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Tutor Perini Corporation in a report 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. The stock presently has an average rating of “Hold” and an average target price of $31.29.
Tutor Perini Corporation Company Profile
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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