Tutor Perini (NYSE:TPC) Sees Large Volume Increase - Here's Why

Tutor Perini Co. (NYSE:TPC - Get Free Report) saw strong trading volume on Monday . 244,480 shares traded hands during mid-day trading, a decline of 45% from the previous session's volume of 442,711 shares.The stock last traded at $26.78 and had previously closed at $27.26.

Tutor Perini Trading Up 12.5 %

The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.65 and a current ratio of 1.65. The stock has a market capitalization of $1.60 billion, a P/E ratio of -15.11 and a beta of 1.50. The stock has a 50-day moving average price of $24.21 and a two-hundred day moving average price of $21.42.

Tutor Perini (NYSE:TPC - Get Free Report) last posted its earnings results on Thursday, August 1st. The construction company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.15). Tutor Perini had a negative return on equity of 4.49% and a negative net margin of 1.59%. The company had revenue of $1.13 billion during the quarter, compared to analysts' expectations of $1.14 billion. During the same period in the prior year, the business posted ($0.72) earnings per share. The company's revenue for the quarter was up 10.4% on a year-over-year basis. On average, research analysts forecast that Tutor Perini Co. will post 1.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in TPC. Empowered Funds LLC increased its stake in shares of Tutor Perini by 17.3% during the first quarter. Empowered Funds LLC now owns 218,925 shares of the construction company's stock valued at $3,166,000 after purchasing an additional 32,325 shares in the last quarter. XTX Topco Ltd bought a new stake in Tutor Perini in the second quarter worth $746,000. Acadian Asset Management LLC grew its stake in shares of Tutor Perini by 152.0% in the first quarter. Acadian Asset Management LLC now owns 292,435 shares of the construction company's stock worth $4,227,000 after acquiring an additional 176,398 shares during the last quarter. Dark Forest Capital Management LP bought a new position in shares of Tutor Perini during the second quarter valued at $482,000. Finally, Caxton Associates LP raised its position in shares of Tutor Perini by 254.0% in the 2nd quarter. Caxton Associates LP now owns 77,466 shares of the construction company's stock worth $1,687,000 after purchasing an additional 55,583 shares during the last quarter. Hedge funds and other institutional investors 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.