Tutor Perini Co. (NYSE:TPC) Short Interest Update

Tutor Perini Co. (NYSE:TPC) was the recipient of a significant decline in short interest in 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. Based on an average trading volume of 406,800 shares, the days-to-cover ratio is presently 3.6 days. Approximately 3.4% of the shares of the stock are short sold.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. StockNews.com raised Tutor Perini from a “hold” rating to a “buy” rating in a research note on Thursday, November 7th. B. Riley lifted their target price on Tutor Perini from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, UBS Group lifted their target price on Tutor Perini from $27.00 to $39.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd.

Tutor Perini Trading Down 2.4 %

Shares of NYSE TPC opened at $27.53 on Friday. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of -10.97 and a beta of 1.50. The business has a 50 day simple moving average of $26.58 and a 200 day simple moving average of $23.15. Tutor Perini has a 52 week low of $7.74 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 announced its quarterly earnings results on Wednesday, November 6th. The construction company reported ($1.92) EPS for the quarter, missing the consensus estimate of ($1.89) by ($0.03). The firm 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 company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.71) EPS. On average, research analysts predict that Tutor Perini will post -1.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tutor Perini news, CEO Ronald N. Tutor sold 125,000 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $30.72, for a total transaction of $3,840,000.00. Following the sale, the chief executive officer now owns 3,257,313 shares in the company, valued at approximately $100,064,655.36. The trade was a 3.70 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 19.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tutor Perini

Several large investors have recently made changes to their positions in TPC. CWM LLC lifted its holdings in Tutor Perini by 142.8% in the 2nd quarter. CWM LLC now owns 1,714 shares of the construction company’s stock worth $37,000 after purchasing an additional 1,008 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Tutor Perini in the 2nd quarter worth approximately $51,000. Plato Investment Management Ltd acquired a new stake in Tutor Perini in the 3rd quarter worth approximately $52,000. nVerses Capital LLC acquired a new stake in Tutor Perini in the 2nd quarter worth approximately $63,000. Finally, EntryPoint Capital LLC acquired a new stake in Tutor Perini in the 1st quarter worth approximately $77,000. Institutional investors own 65.01% of the company’s stock.

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.