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Tutor Perini Corporation (NYSE:TPC – Get Free Report) Chairman Ronald Tutor sold 116,856 shares of the business’s stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $64.21, for a total transaction of $7,503,323.76. Following the completion of the transaction, the chairman owned 4,154,129 shares in the company, valued at $266,736,623.09. The trade was a 2.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Tutor Perini Stock Performance
Shares of TPC stock opened at $65.48 on Friday. Tutor Perini Corporation has a one year low of $18.33 and a one year high of $66.74. The firm’s 50 day moving average price is $55.04 and its 200-day moving average price is $39.62. The firm has a market cap of $3.45 billion, a P/E ratio of -25.98 and a beta of 1.88. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.32 and a current ratio of 1.32.
Tutor Perini (NYSE:TPC – Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The construction company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $1.12. Tutor Perini had a negative net margin of 2.77% and a negative return on equity of 6.41%. The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same period in the prior year, the firm posted $0.02 EPS. The company’s quarterly revenue was up 21.8% compared to the same quarter last year.
Institutional Trading of Tutor Perini
Institutional investors and hedge funds have recently modified their holdings of the business. Ameriprise Financial Inc. increased its holdings in shares of Tutor Perini by 8.8% in the 4th quarter. Ameriprise Financial Inc. now owns 211,843 shares of the construction company’s stock worth $5,127,000 after acquiring an additional 17,217 shares during the period. Bank of America Corp DE raised its holdings in shares of Tutor Perini by 25.0% in the 4th quarter. Bank of America Corp DE now owns 206,941 shares of the construction company’s stock worth $5,008,000 after purchasing an additional 41,451 shares in the last quarter. Captrust Financial Advisors acquired a new stake in Tutor Perini during the fourth quarter valued at approximately $251,000. Deutsche Bank AG lifted its stake in Tutor Perini by 34.2% during the fourth quarter. Deutsche Bank AG now owns 48,285 shares of the construction company’s stock valued at $1,168,000 after purchasing an additional 12,296 shares during the last quarter. Finally, Millennium Management LLC raised its holdings in shares of Tutor Perini by 90.8% during the fourth quarter. Millennium Management LLC now owns 144,597 shares of the construction company’s stock valued at $3,499,000 after acquiring an additional 68,807 shares during the period. 65.01% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
TPC has been the subject of several recent analyst reports. Wall Street Zen upgraded shares of Tutor Perini from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 11th. UBS Group raised their target price on shares of Tutor Perini from $59.00 to $67.00 and gave the company a “buy” rating in a report on Thursday, August 7th. Zacks Research upgraded shares of Tutor Perini to a “strong-buy” rating in a report on Friday, August 8th. Finally, B. Riley lifted their price target on shares of Tutor Perini from $50.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. According to MarketBeat, Tutor Perini has a consensus rating of “Buy” and a consensus price target of $60.00.
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.
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