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

Tutor Perini Co. (NYSE:TPC) was the target of a significant decline in short interest in the month of November. As of November 30th, there was short interest totalling 1,000,000 shares, a decline of 32.9% from the November 15th total of 1,490,000 shares. Based on an average trading volume of 419,800 shares, the days-to-cover ratio is presently 2.4 days. Approximately 2.3% of the company’s shares are sold short.

Insider Activity

In related news, CEO Ronald N. Tutor sold 125,000 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $30.72, for a total transaction of $3,840,000.00. Following the transaction, the chief executive officer now directly owns 3,257,313 shares of the company’s stock, valued at approximately $100,064,655.36. The trade was a 3.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Raymond R. Oneglia sold 50,000 shares of Tutor Perini stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $28.68, for a total value of $1,434,000.00. Following the transaction, the director now directly owns 250,000 shares in the company, valued at approximately $7,170,000. This trade represents a 16.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 325,000 shares of company stock worth $9,686,000 over the last 90 days. 19.50% of the stock is owned by company insiders.

Institutional Trading of Tutor Perini

A number of hedge funds have recently bought and sold shares of TPC. Foundry Partners LLC increased its holdings in Tutor Perini by 18.2% in the 3rd quarter. Foundry Partners LLC now owns 216,915 shares of the construction company’s stock valued at $5,891,000 after buying an additional 33,440 shares during the period. XTX Topco Ltd bought a new position in Tutor Perini in the 2nd quarter valued at $746,000. Empowered Funds LLC lifted its position in Tutor Perini by 13.9% during the 3rd quarter. Empowered Funds LLC now owns 268,521 shares of the construction company’s stock worth $7,293,000 after buying an additional 32,676 shares in the last quarter. Dark Forest Capital Management LP bought a new stake in shares of Tutor Perini during the second quarter valued at approximately $482,000. Finally, Caxton Associates LP raised its position in shares of Tutor Perini by 254.0% during the second quarter. Caxton Associates LP now owns 77,466 shares of the construction company’s stock worth $1,687,000 after acquiring an additional 55,583 shares during the last quarter. 65.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on TPC. UBS Group upped their target price on Tutor Perini from $27.00 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. StockNews.com downgraded Tutor Perini from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Vertical Research assumed coverage on shares of Tutor Perini in a research note on Tuesday. They issued a “buy” rating and a $38.00 target price for the company. Finally, B. Riley increased their price target on shares of Tutor Perini from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th.

Tutor Perini Stock Up 0.5 %

Shares of TPC traded up $0.13 during trading hours on Friday, hitting $26.20. 279,542 shares of the company were exchanged, compared to its average volume of 444,992. The firm’s 50 day moving average is $27.66 and its 200-day moving average is $24.38. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.55 and a current ratio of 1.55. Tutor Perini has a 52 week low of $7.83 and a 52 week high of $34.55. The company has a market cap of $1.37 billion, a PE ratio of -10.44 and a beta of 1.49.

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

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.