Tutor Perini Corp (NYSE:TPC) President Gary G. Smalley has recently sold company shares in a series of transactions valued at a total of $935,249. The sales occurred over a three-day period, with the prices of the shares ranging from $12.86 to $13.28 each.
On the first day of transactions, Smalley sold 27,958 shares at a weighted average price of $12.86. The following day, an additional 27,959 shares were sold at a weighted average price of $13.02. The final day saw the sale of 15,940 shares at a weighted average price of $13.28. The transactions were spread out with shares being sold at various prices within the stated ranges.
The sales were executed at prices between $12.70 and $13.33, as detailed in the footnotes of the filing. The footnotes also indicate Smalley's commitment to providing further details about the number of shares sold at each price upon request.
After these transactions, Smalley's ownership in Tutor Perini Corp has decreased, but he still retains a substantial number of shares in the company. The recent sales have brought his holdings to 68,346 shares following the last reported sale.
Investors often watch insider transactions for insights into management's perspective on the company's valuation and future prospects. Tutor Perini Corp, a large construction company known for its building projects, is publicly traded and operates under the standard industrial classification for general building contractors - nonresidential buildings.
The transactions were reported in accordance with SEC regulations, which require insiders to disclose sales and purchases of company securities. The reported sales by President Gary G. Smalley are now a matter of public record.
InvestingPro Insights
In light of the recent insider transactions at Tutor Perini Corp (NYSE:TPC), it's interesting to note some key metrics and tips from InvestingPro that may provide additional context for investors. According to InvestingPro, Tutor Perini is trading at a low Price / Book multiple of 0.54 as of the last twelve months as of Q4 2023. This could indicate that the stock is undervalued relative to the company's book value, potentially attracting value investors.
Furthermore, the company has shown a strong return over the last year, with a 1 Year Price Total Return of 107.59%. This impressive performance might be a factor in President Gary G. Smalley's decision to sell shares. Investors may also want to consider the InvestingPro Tip that the stock is in overbought territory, with an RSI suggesting that it might be due for a pullback.
Another important aspect to consider is that Tutor Perini's net income is expected to grow this year, an InvestingPro Tip that signals potential optimism about the company's future profitability. While the company has not been profitable over the last twelve months, analysts predict a turnaround this year.
For those who find these insights useful, InvestingPro offers even more detailed analysis and tips. There are additional InvestingPro Tips available for Tutor Perini Corp, which can be accessed with the use of coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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