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

Tutor Perini Co. (NYSE:TPC) was the target of a large growth in short interest in February. As of February 15th, there was short interest totalling 1,520,000 shares, a growth of 32.2% from the January 31st total of 1,150,000 shares. Currently, 3.5% of the shares of the stock are short sold. Based on an average trading volume of 519,100 shares, the short-interest ratio is currently 2.9 days.

Institutional Investors Weigh In On Tutor Perini

A number of hedge funds have recently made changes to their positions in TPC. Plato Investment Management Ltd purchased a new position in shares of Tutor Perini in the third quarter worth $52,000. FMR LLC lifted its stake in shares of Tutor Perini by 103.1% in the 3rd quarter. FMR LLC now owns 4,725 shares of the construction company’s stock valued at $128,000 after purchasing an additional 2,399 shares during the period. State of Wyoming grew its position in shares of Tutor Perini by 39.7% in the 4th quarter. State of Wyoming now owns 6,212 shares of the construction company’s stock worth $150,000 after buying an additional 1,764 shares during the period. Y Intercept Hong Kong Ltd bought a new position in shares of Tutor Perini during the third quarter valued at approximately $201,000. Finally, Optimize Financial Inc purchased a new position in Tutor Perini during the fourth quarter valued at $221,000. 65.01% of the stock is currently owned by institutional investors.

Tutor Perini Price Performance

Tutor Perini stock opened at $27.55 on Thursday. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.53. The company has a market cap of $1.44 billion, a price-to-earnings ratio of -10.98 and a beta of 1.52. Tutor Perini has a 12 month low of $11.13 and a 12 month high of $34.55. The business’s 50 day simple moving average is $24.07 and its 200 day simple moving average is $25.40.

Tutor Perini (NYSE:TPC) last announced its quarterly earnings results on Thursday, February 27th. The construction company reported ($1.51) earnings per share for the quarter, missing the consensus estimate of $0.29 by ($1.80). The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.08 billion. Tutor Perini had a negative net margin of 3.08% and a negative return on equity of 9.56%. During the same quarter in the prior year, the company earned ($0.91) earnings per share.

Analyst Ratings Changes

Several brokerages have commented on TPC. Vertical Research began coverage on Tutor Perini in a research note on Tuesday, December 10th. They set a “buy” rating and a $38.00 target price for the company. StockNews.com cut Tutor Perini from a “buy” rating to a “hold” rating in a report on Tuesday, January 28th. Finally, B. Riley lifted their price objective on Tutor Perini from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th.

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.