Insider Selling: Tutor Perini Co. (NYSE:TPC) Director Sells $2,873,000.00 in Stock

Tutor Perini Co. (NYSE:TPC) Director Raymond R. Oneglia sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $28.73, for a total value of $2,873,000.00. Following the transaction, the director now owns 400,000 shares in the company, valued at approximately $11,492,000. The trade was a 20.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Tutor Perini Trading Down 0.6 %

NYSE TPC opened at $28.52 on Monday. The stock has a market cap of $1.50 billion, a P/E ratio of -11.36 and a beta of 1.50. Tutor Perini Co. has a fifty-two week low of $7.83 and a fifty-two week high of $34.55. The stock has a 50 day simple moving average of $27.31 and a two-hundred day simple moving average of $23.69. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.55 and a current ratio of 1.55.

Tutor Perini (NYSE:TPC) last announced its quarterly earnings results on Wednesday, November 6th. The construction company reported ($1.92) EPS for the quarter, missing analysts’ consensus estimates of ($1.89) by ($0.03). The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Tutor Perini had a negative return on equity of 9.56% and a negative net margin of 3.08%. The business’s revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.71) EPS. On average, analysts forecast that Tutor Perini Co. will post -1.47 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TPC. StockNews.com cut shares of Tutor Perini from a “buy” rating to a “hold” rating in a report on Friday, November 15th. B. Riley raised their price target on shares of Tutor Perini from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, UBS Group boosted their price objective on shares of Tutor Perini from $27.00 to $39.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd.

Institutional Investors Weigh In On Tutor Perini

Large investors have recently modified their holdings of the stock. CWM LLC lifted its holdings in Tutor Perini by 142.8% in the second quarter. CWM LLC now owns 1,714 shares of the construction company’s stock worth $37,000 after buying an additional 1,008 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in shares of Tutor Perini in the 2nd quarter valued at approximately $51,000. Plato Investment Management Ltd bought a new stake in shares of Tutor Perini during the third quarter valued at approximately $52,000. nVerses Capital LLC bought a new position in Tutor Perini in the second quarter worth $63,000. Finally, EntryPoint Capital LLC bought a new position in Tutor Perini in the first quarter worth $77,000. Institutional investors own 65.01% of the company’s stock.

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.