Short Interest in Tutor Perini Co. (NYSE:TPC) Rises By 32.2%

Tutor Perini Co. (NYSE:TPC) was the target of a large growth in short interest in the month of 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 company’s stock are sold short. Based on an average trading volume of 519,100 shares, the days-to-cover ratio is presently 2.9 days.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on TPC shares. B. Riley lifted their price target on Tutor Perini from $38.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, November 7th. StockNews.com cut Tutor Perini from a “buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Finally, Vertical Research began coverage on Tutor Perini in a research report on Tuesday, December 10th. They issued a “buy” rating and a $38.00 price objective for the company.

Tutor Perini Stock Down 1.4 %

Shares of Tutor Perini stock traded down $0.38 during trading on Tuesday, reaching $27.58. The company’s stock had a trading volume of 743,453 shares, compared to its average volume of 490,522. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.53. The company has a market cap of $1.45 billion, a price-to-earnings ratio of -10.99 and a beta of 1.52. Tutor Perini has a 1-year low of $11.13 and a 1-year high of $34.55. The company has a 50-day simple moving average of $24.07 and a two-hundred day simple moving average of $25.40.

Tutor Perini (NYSE:TPC) last posted its quarterly earnings data on Thursday, February 27th. The construction company reported ($1.51) earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($1.80). The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.08 billion. Tutor Perini had a negative return on equity of 9.56% and a negative net margin of 3.08%. During the same period in the previous year, the business earned ($0.91) EPS.

Institutional Trading of Tutor Perini

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TPC. Fred Alger Management LLC acquired a new stake in Tutor Perini during the 3rd quarter worth about $16,034,000. Boston Partners lifted its position in Tutor Perini by 1,801.4% during the 4th quarter. Boston Partners now owns 605,450 shares of the construction company’s stock worth $14,666,000 after acquiring an additional 573,608 shares during the period. JPMorgan Chase & Co. lifted its position in Tutor Perini by 611.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 536,384 shares of the construction company’s stock worth $14,568,000 after acquiring an additional 460,945 shares during the period. Jacobs Levy Equity Management Inc. lifted its position in Tutor Perini by 129.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 783,396 shares of the construction company’s stock worth $21,277,000 after acquiring an additional 441,858 shares during the period. Finally, First Trust Advisors LP lifted its position in Tutor Perini by 74.6% during the 4th quarter. First Trust Advisors LP now owns 938,478 shares of the construction company’s stock worth $22,711,000 after acquiring an additional 401,117 shares during the period. 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.