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Chairman & CEO, 10% Owner of TPC Ronald N. Tutor Sold 281,668 Shares

By: GuruFocus
Posted: 6/14/2012 6:51:00 PM
Referenced Stocks: TPC

Tutor Perini Corporation, formerly Perini Corporation, is a construction services company offering diversified general contracting, construction management and design/build services to private clients and public agencies throughout the world. Tutor Perini Corp. has a market cap of $560.7 million; its shares were traded at around $11.04 with a P/E ratio of 6.8 and P/S ratio of 0.1. Tutor Perini Corp. had an annual average earnings growth of 17.6% over the past 10 years.

On June 13, 2012, Chairman & CEO, 10% Owner of Tutor Perini Corp. ( TPC ) Ronald N. Tutor sold 281,668 shares at an average price of $11.46. The total transaction amount is $3,227,915.

Mr. Tutor has served as Tutor Perini Corp.'s CEO since March 2000, as Chairman since July 1999, and as director since January 1997. Before serving at Tutor Perini, he was the Chairman, President and Chief Executive Officer of Tutor-Saliba Corporation until it merged with the company in September 2008.

In March, Ronald Tutor has sold 800,000 shares of TPC stock. In December, Tutor has also sold 150,000 shares of TPC stock at the average price of $12.59.

Richard Pzena increased his position in TPC. He owns 1,300,849 shares as March 31, an increase of 23.05% from the previous quarter. David Dreman has left his position in the company unchanged or slightly adjusted. As of March 31, he owns 2,297,026 shares.

On May 4, 2012, Tutor Perini Corporation ( TPC ) reported their 2012 first quarter financial results. The company announced revenues of $912.5 million, compared to the 615.3 million in the first quarter of 2011. They also announced net loss of $1.2 million for this quarter, compared to the net income of $6.9 million for last year's quarter.

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