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

Tutor Perini Co. (NYSE:TPC) saw a large growth in short interest in 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 presently 2.9 days. Currently, 3.5% of the shares of the stock are sold short.

Hedge Funds Weigh In On Tutor Perini

A number of large investors have recently bought and sold shares of the company. Plato Investment Management Ltd acquired a new position in shares of Tutor Perini during the 3rd quarter worth approximately $52,000. FMR LLC raised its stake in 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 raised its position in shares of Tutor Perini by 39.7% in the fourth quarter. State of Wyoming now owns 6,212 shares of the construction company’s stock valued at $150,000 after purchasing an additional 1,764 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in shares of Tutor Perini during the 3rd quarter worth about $201,000. Finally, EP Wealth Advisors LLC acquired a new stake in Tutor Perini during the third quarter worth approximately $234,000. Institutional investors and hedge funds own 65.01% of the company’s stock.

Tutor Perini Price Performance

TPC opened at $27.55 on Thursday. The company has a fifty day moving average price of $24.07 and a two-hundred day moving average price of $25.40. The firm has a market capitalization of $1.44 billion, a PE ratio of -10.98 and a beta of 1.52. Tutor Perini has a 52 week low of $11.13 and a 52 week high of $34.55. 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 (NYSE:TPC) last released its quarterly earnings data on Thursday, February 27th. The construction company reported ($1.51) EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($1.80). Tutor Perini had a negative net margin of 3.08% and a negative return on equity of 9.56%. The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the prior year, the company posted ($0.91) EPS.

Analysts Set New Price Targets

TPC has been the topic of several research analyst reports. StockNews.com cut shares of Tutor Perini from a “buy” rating to a “hold” rating in a research note on Tuesday, January 28th. B. Riley increased their price objective on Tutor Perini from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Vertical Research started coverage on Tutor Perini in a research report on Tuesday, December 10th. They set a “buy” rating and a $38.00 target price for the company.

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.