Short Interest in Tutor Perini Co. (NYSE:TPC) Declines By 14.7%

Tutor Perini Co. (NYSE:TPC) was the target of a significant decrease in short interest during the month of March. As of March 15th, there was short interest totalling 1,160,000 shares, a decrease of 14.7% from the February 28th total of 1,360,000 shares. Based on an average trading volume of 601,600 shares, the short-interest ratio is currently 1.9 days. Currently, 2.7% of the shares of the company are sold short.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TPC. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Tutor Perini by 47.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 89,032 shares of the construction company’s stock valued at $2,155,000 after acquiring an additional 28,701 shares during the last quarter. Voloridge Investment Management LLC acquired a new position in shares of Tutor Perini in the fourth quarter worth about $821,000. Squarepoint Ops LLC increased its position in shares of Tutor Perini by 107.9% in the fourth quarter. Squarepoint Ops LLC now owns 24,865 shares of the construction company’s stock worth $602,000 after acquiring an additional 12,903 shares in the last quarter. Two Sigma Investments LP raised its holdings in shares of Tutor Perini by 110.3% during the fourth quarter. Two Sigma Investments LP now owns 47,810 shares of the construction company’s stock valued at $1,157,000 after acquiring an additional 25,076 shares during the period. Finally, State of Wyoming lifted 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 valued at $150,000 after acquiring an additional 1,764 shares in the last quarter. Institutional investors and hedge funds own 65.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on TPC shares. B. Riley upgraded shares of Tutor Perini to a “strong-buy” rating in a research report on Tuesday, March 18th. StockNews.com lowered Tutor Perini from a “buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Finally, Vertical Research assumed coverage on Tutor Perini in a report on Tuesday, December 10th. They set a “buy” rating and a $38.00 price target on the stock.

Tutor Perini Price Performance

Shares of NYSE TPC traded up $0.46 during mid-day trading on Wednesday, reaching $23.64. 95,092 shares of the company traded hands, compared to its average volume of 516,772. The firm has a market cap of $1.24 billion, a PE ratio of -9.42 and a beta of 1.47. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.55 and a quick ratio of 1.55. Tutor Perini has a fifty-two week low of $13.15 and a fifty-two week high of $34.55. The stock has a fifty day simple moving average of $24.28 and a 200-day simple moving average of $25.71.

Tutor Perini (NYSE:TPC) last announced its quarterly earnings data 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 firm had revenue of $1.07 billion during the quarter, compared to analyst estimates 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 last year, the company earned ($0.91) EPS.

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.