Stock Traders Buy High Volume of Tutor Perini Call Options (TPC)
Tutor Perini Corporation (NYSE:TPC) was the recipient of unusually large options trading activity on Monday. Stock traders bought 507 call options on the stock. This is an increase of approximately 680% compared to the average volume of 65 call options.
Shares of Tutor Perini (NYSE TPC) opened at $27.65 on Thursday. Tutor Perini has a 1 year low of $22.60 and a 1 year high of $33.00. The firm has a market cap of $1,383.91, a price-to-earnings ratio of 14.40, a P/E/G ratio of 1.52 and a beta of 2.36. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.07 and a quick ratio of 2.07.
Tutor Perini (NYSE:TPC) last announced its quarterly earnings results on Thursday, November 9th. The construction company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.22). Tutor Perini had a return on equity of 6.16% and a net margin of 2.03%. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the prior year, the firm posted $0.57 EPS. The company’s revenue for the quarter was down 10.0% on a year-over-year basis. analysts forecast that Tutor Perini will post 1.83 EPS for the current fiscal year.
In other news, major shareholder N. Tutor Separate Prope Ronald sold 25,000 shares of the business’s stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $25.60, for a total value of $640,000.00. Following the transaction, the insider now owns 5,798,120 shares of the company’s stock, valued at $148,431,872. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 24.50% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Sterling Capital Management LLC increased its position in Tutor Perini by 15.8% in the third quarter. Sterling Capital Management LLC now owns 61,173 shares of the construction company’s stock worth $1,737,000 after purchasing an additional 8,352 shares during the last quarter. California Public Employees Retirement System increased its position in Tutor Perini by 7.4% during the third quarter. California Public Employees Retirement System now owns 86,361 shares of the construction company’s stock valued at $2,453,000 after acquiring an additional 5,961 shares during the last quarter. Asset Management One Co. Ltd. increased its position in Tutor Perini by 204.9% during the third quarter. Asset Management One Co. Ltd. now owns 343,589 shares of the construction company’s stock valued at $9,827,000 after acquiring an additional 230,916 shares during the last quarter. Westside Investment Management Inc. increased its position in Tutor Perini by 22.7% during the third quarter. Westside Investment Management Inc. now owns 56,280 shares of the construction company’s stock valued at $1,618,000 after acquiring an additional 10,425 shares during the last quarter. Finally, Formula Growth Ltd. bought a new position in Tutor Perini during the third quarter valued at $7,526,000. Institutional investors own 81.78% of the company’s stock.
About Tutor Perini
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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