Tutor Perini Co. (NYSE:TPC) Short Interest Update

Tutor Perini Co. (NYSE:TPC) saw a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 1,480,000 shares, a decline of 17.3% from the October 15th total of 1,790,000 shares. Approximately 3.4% of the shares of the stock are short sold. Based on an average trading volume of 406,800 shares, the short-interest ratio is presently 3.6 days.

Analysts Set New Price Targets

TPC has been the subject of several research analyst reports. StockNews.com cut shares of Tutor Perini from a “buy” rating to a “hold” rating in a research report on Friday. B. Riley upped their target price on shares of Tutor Perini from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, UBS Group upped their target price 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.

Tutor Perini Trading Up 0.6 %

Shares of Tutor Perini stock traded up $0.17 on Friday, hitting $27.73. 318,488 shares of the company’s stock traded hands, compared to its average volume of 526,131. Tutor Perini has a one year low of $7.74 and a one year high of $34.55. The stock has a market capitalization of $1.45 billion, a PE ratio of -11.05 and a beta of 1.50. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.55 and a quick ratio of 1.55. The firm’s 50-day moving average price is $26.70 and its two-hundred day moving average price is $23.22.

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

Insider Activity

In related news, CEO Ronald N. Tutor sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $30.78, for a total value of $1,539,000.00. Following the completion of the transaction, the chief executive officer now owns 2,362,267 shares in the company, valued at $72,710,578.26. The trade was a 2.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 19.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tutor Perini

Several institutional investors and hedge funds have recently made changes to their positions in TPC. USA Financial Formulas boosted its stake in Tutor Perini by 19.6% in the 3rd quarter. USA Financial Formulas now owns 3,451 shares of the construction company’s stock worth $94,000 after purchasing an additional 566 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Tutor Perini by 3.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,874 shares of the construction company’s stock worth $368,000 after purchasing an additional 571 shares during the period. CWM LLC boosted its stake in Tutor Perini by 53.0% in the 3rd quarter. CWM LLC now owns 2,622 shares of the construction company’s stock worth $71,000 after purchasing an additional 908 shares during the period. Plato Investment Management Ltd acquired a new position in shares of Tutor Perini during the 3rd quarter worth about $52,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of Tutor Perini during the 2nd quarter worth about $51,000. Institutional investors and hedge funds 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.