Tutor Perini Co. (NYSE:TPC) CEO Sells $2,241,700.00 in Stock

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.

The company also recently announced a quarterly dividend, which was paid on Monday, May 3rd. Stockholders of record on Friday, April 9th were issued a $0.2969 dividend. This represents a $1.19 annualized dividend and a dividend yield of 7.95%. The ex-dividend date of this dividend was Thursday, April 8th.

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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Insider Buying and Selling by Quarter for Tutor Perini (NYSE:TPC)

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