Tutor Perini Co. (NYSE:TPC) Sees Significant Decrease in Short Interest

Tutor Perini Co. (NYSE:TPC) saw a significant decrease in short interest in October. As of October 31st, there was short interest totalling 1,480,000 shares, a decrease of 17.3% from the October 15th total of 1,790,000 shares. Based on an average daily volume of 406,800 shares, the short-interest ratio is presently 3.6 days. Approximately 3.4% of the shares of the stock are sold short.

Tutor Perini Stock Performance

Tutor Perini stock opened at $27.53 on Friday. The company has a market cap of $1.44 billion, a PE ratio of -10.97 and a beta of 1.50. The company has a fifty day moving average price of $26.58 and a two-hundred day moving average price of $23.15. 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 12 month low of $7.74 and a 12 month high of $34.55.

Tutor Perini (NYSE:TPC) last released its quarterly earnings data on Wednesday, November 6th. The construction company reported ($1.92) EPS for the quarter, missing analysts’ consensus estimates of ($1.89) by ($0.03). Tutor Perini had a negative return on equity of 9.56% and a negative net margin of 3.08%. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same period in the prior year, the firm earned ($0.71) EPS. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. Research analysts expect that Tutor Perini will post -1.47 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TPC has been the topic of a number of analyst reports. UBS Group lifted their price objective on shares of Tutor Perini from $27.00 to $39.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. StockNews.com raised shares of Tutor Perini from a “hold” rating to a “buy” rating in a research report on Thursday, November 7th. Finally, B. Riley raised their price target on shares of Tutor Perini from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th.

Insider Buying and Selling at Tutor Perini

In related news, CEO Ronald N. Tutor sold 125,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $30.72, for a total value of $3,840,000.00. Following the transaction, the chief executive officer now owns 3,257,313 shares in the company, valued at approximately $100,064,655.36. This trade represents a 3.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 19.50% of the company’s stock.

Hedge Funds Weigh In On Tutor Perini

Several hedge funds and other institutional investors have recently modified their holdings of TPC. Donald Smith & CO. Inc. raised its stake in shares of Tutor Perini by 3.9% during the first quarter. Donald Smith & CO. Inc. now owns 4,052,678 shares of the construction company’s stock valued at $58,602,000 after purchasing an additional 152,779 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Tutor Perini by 9.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,399,544 shares of the construction company’s stock valued at $52,263,000 after purchasing an additional 198,348 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Tutor Perini by 1.1% during the first quarter. Vanguard Group Inc. now owns 2,333,269 shares of the construction company’s stock valued at $33,739,000 after purchasing an additional 25,246 shares in the last quarter. American Century Companies Inc. raised its position in Tutor Perini by 59.9% in the second quarter. American Century Companies Inc. now owns 759,665 shares of the construction company’s stock worth $16,546,000 after acquiring an additional 284,627 shares in the last quarter. Finally, Fred Alger Management LLC bought a new stake in Tutor Perini in the third quarter worth about $16,034,000. Institutional investors and hedge funds own 65.01% of the company’s stock.

Tutor Perini Company Profile

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.