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 during 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. Based on an average daily volume of 519,100 shares, the short-interest ratio is currently 2.9 days. Approximately 3.5% of the company’s shares are short sold.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TPC. Plato Investment Management Ltd purchased a new position in Tutor Perini during the 3rd quarter worth $52,000. FMR LLC increased its holdings 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 acquiring an additional 2,399 shares during the period. State of Wyoming increased its holdings 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 valued at $150,000 after acquiring an additional 1,764 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in shares of Tutor Perini in the 3rd quarter valued at $201,000. Finally, Optimize Financial Inc purchased a new position in shares of Tutor Perini in the 4th quarter valued at $221,000. 65.01% of the stock is currently owned by hedge funds and other institutional investors.

Tutor Perini Trading Down 1.4 %

Shares of TPC stock traded down $0.38 on Tuesday, reaching $27.58. 743,453 shares of the company’s stock were exchanged, compared to its average volume of 490,522. Tutor Perini has a 52 week low of $11.13 and a 52 week high of $34.55. 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 stock has a market capitalization of $1.45 billion, a PE ratio of -10.99 and a beta of 1.52. The company’s fifty day simple moving average is $24.07 and its 200 day simple moving average is $25.40.

Tutor Perini (NYSE:TPC) last released its quarterly earnings data on Thursday, February 27th. The construction company reported ($1.51) EPS for the quarter, missing the consensus estimate of $0.29 by ($1.80). The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations 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 quarter in the previous year, the business earned ($0.91) earnings per share.

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.