Tutor Perini Co. (NYSE:TPC) CEO Ronald N. Tutor sold 145,000 shares of the firm’s stock in a transaction on Wednesday, June 9th. The stock was sold at an average price of $15.46, for a total transaction of $2,241,700.00. The sale was disclosed in a legal filing with the SEC, which is available through this link.
Shares of NYSE:TPC opened at $14.93 on Friday. The stock has a market capitalization of $760.50 million, a P/E ratio of 7.14 and a beta of 1.42. The company has a 50-day moving average price of $16.46. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.59. Tutor Perini Co. has a fifty-two week low of $10.18 and a fifty-two week high of $20.24.
Tutor Perini (NYSE:TPC) last issued its earnings results on Wednesday, May 5th. The construction company reported $0.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.09. The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.24 billion. Tutor Perini had a net margin of 2.03% and a return on equity of 7.03%. As a group, sell-side analysts forecast that Tutor Perini Co. will post 2.07 earnings per share for the current fiscal year.
Several brokerages have issued reports on TPC. B. Riley lowered their price objective on shares of Tutor Perini from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, May 6th. Zacks Investment Research downgraded shares of Tutor Perini from a “buy” rating to a “hold” rating in a research report on Wednesday, May 12th. Finally, TheStreet raised shares of Tutor Perini from a “c” rating to a “b-” rating in a report on Wednesday, March 17th.
A number of hedge funds have recently added to or reduced their stakes in TPC. BlackRock Inc. boosted its holdings in Tutor Perini by 21.2% during the first quarter. BlackRock Inc. now owns 3,616,952 shares of the construction company’s stock worth $68,541,000 after buying an additional 633,411 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in Tutor Perini by 48.8% during the fourth quarter. Russell Investments Group Ltd. now owns 1,648,530 shares of the construction company’s stock worth $21,348,000 after buying an additional 540,434 shares in the last quarter. Foundry Partners LLC purchased a new stake in Tutor Perini during the fourth quarter worth about $6,101,000. Norges Bank purchased a new stake in Tutor Perini during the fourth quarter worth about $6,055,000. Finally, SummerHaven Investment Management LLC purchased a new stake in Tutor Perini during the fourth quarter worth about $457,000. 69.28% of the stock is currently owned by hedge funds and other institutional investors.
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 and the replacement and reconstruction of infrastructure, including highways, bridges, tunnels, mass-transit systems, military defense facilities, and water management and wastewater treatment facilities.
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