Raymond R. Oneglia Sells 50,000 Shares of Tutor Perini Co. (NYSE:TPC) Stock

Tutor Perini Co. (NYSE:TPC) Director Raymond R. Oneglia sold 50,000 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $28.68, for a total transaction of $1,434,000.00. Following the sale, the director now directly owns 250,000 shares in the company, valued at $7,170,000. This represents a 16.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Tutor Perini Trading Down 0.6 %

Shares of Tutor Perini stock opened at $28.52 on Friday. The firm has a 50 day simple moving average of $27.31 and a 200 day simple moving average of $23.62. Tutor Perini Co. has a fifty-two week low of $7.83 and a fifty-two week high of $34.55. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.55 and a quick ratio of 1.55.

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in shares of Tutor Perini by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 2,333,269 shares of the construction company’s stock worth $33,739,000 after buying an additional 25,246 shares during the period. EntryPoint Capital LLC bought a new position in Tutor Perini in the first quarter valued at approximately $77,000. Quadrature Capital Ltd grew its holdings in Tutor Perini by 55.1% during the 1st quarter. Quadrature Capital Ltd now owns 41,457 shares of the construction company’s stock worth $601,000 after acquiring an additional 14,720 shares during the period. Price T Rowe Associates Inc. MD bought a new stake in shares of Tutor Perini during the 1st quarter valued at $177,000. Finally, CWM LLC lifted its stake in shares of Tutor Perini by 142.8% in the 2nd quarter. CWM LLC now owns 1,714 shares of the construction company’s stock valued at $37,000 after purchasing an additional 1,008 shares during the period. 65.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

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.