Tutor Perini Co. (NYSE:TPC) CEO Ronald N. Tutor sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, June 4th. The stock was sold at an average price of $15.50, for a total transaction of $775,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Tutor Perini stock opened at $14.93 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.88 and a current ratio of 1.88. The stock has a market capitalization of $760.50 million, a price-to-earnings ratio of 7.14 and a beta of 1.42. The business’s fifty day moving average is $16.46. Tutor Perini Co. has a twelve month low of $10.18 and a twelve month high of $20.24.
Tutor Perini (NYSE:TPC) last issued its quarterly earnings data on Wednesday, May 5th. The construction company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.09. Tutor Perini had a return on equity of 7.03% and a net margin of 2.03%. The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Research analysts anticipate that Tutor Perini Co. will post 2.07 earnings per share for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of TPC. BlackRock Inc. lifted its position in Tutor Perini by 21.2% during the first quarter. BlackRock Inc. now owns 3,616,952 shares of the construction company’s stock valued at $68,541,000 after acquiring an additional 633,411 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Tutor Perini by 48.8% during the 4th quarter. Russell Investments Group Ltd. now owns 1,648,530 shares of the construction company’s stock valued at $21,348,000 after purchasing an additional 540,434 shares during the last quarter. Foundry Partners LLC purchased a new position in Tutor Perini during the 4th quarter worth $6,101,000. Norges Bank acquired a new position in Tutor Perini during the 4th quarter valued at about $6,055,000. Finally, SummerHaven Investment Management LLC purchased a new stake in Tutor Perini in the fourth quarter valued at about $457,000. Hedge funds and other institutional investors own 69.28% of the company’s stock.
Several research analysts recently issued reports on the company. TheStreet raised Tutor Perini from a “c” rating to a “b-” rating in a research note on Wednesday, March 17th. Zacks Investment Research lowered Tutor Perini from a “buy” rating to a “hold” rating in a research note on Wednesday, May 12th. Finally, B. Riley lowered their price objective on shares of Tutor Perini from $22.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, May 6th.
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 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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