Short Interest in Tutor Perini Co. (NYSE:TPC) Decreases By 17.3%

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

Insider Buying and Selling at Tutor Perini

In related news, CEO Ronald N. Tutor sold 125,000 shares of the company's stock in a transaction dated 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 sale, the chief executive officer now owns 3,257,313 shares of the company's stock, valued at $100,064,655.36. The trade was a 3.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 19.50% of the stock is owned by corporate insiders.

Institutional Trading of Tutor Perini

Hedge funds have recently bought and sold shares of the company. CWM LLC increased its holdings in Tutor Perini by 142.8% during the 2nd quarter. CWM LLC now owns 1,714 shares of the construction company's stock valued at $37,000 after purchasing an additional 1,008 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in Tutor Perini in the second quarter worth about $51,000. Plato Investment Management Ltd bought a new stake in Tutor Perini during the 3rd quarter valued at approximately $52,000. nVerses Capital LLC purchased a new position in shares of Tutor Perini during the 2nd quarter worth approximately $63,000. Finally, EntryPoint Capital LLC bought a new position in shares of Tutor Perini in the 1st quarter worth approximately $77,000. Institutional investors own 65.01% of the company's stock.

Tutor Perini Trading Up 1.1 %

TPC traded up $0.30 during trading on Friday, hitting $27.86. The company's stock had a trading volume of 140,428 shares, compared to its average volume of 450,338. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.53. Tutor Perini has a twelve month low of $7.74 and a twelve month high of $34.55. The stock's fifty day moving average price is $26.58 and its 200-day moving average price is $23.15. The firm has a market capitalization of $1.46 billion, a P/E ratio of -10.93 and a beta of 1.50.

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TPC. StockNews.com cut Tutor Perini from a "buy" rating to a "hold" rating in a report on Friday. UBS Group increased their price target on shares of Tutor Perini from $27.00 to $39.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Finally, B. Riley increased their target price on Tutor Perini from $38.00 to $40.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th.

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.