Tutor Perini Co. (NYSE:TPC) Short Interest Up 19.0% in December

Tutor Perini Co. (NYSE:TPC) saw a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 1,190,000 shares, an increase of 19.0% from the November 30th total of 1,000,000 shares. Currently, 2.7% of the shares of the stock are sold short. Based on an average daily volume of 418,700 shares, the days-to-cover ratio is currently 2.8 days.

Tutor Perini Trading Up 1.1 %

NYSE:TPC traded up $0.27 during trading hours on Tuesday, reaching $24.20. 748,171 shares of the stock were exchanged, compared to its average volume of 446,548. Tutor Perini has a twelve month low of $7.83 and a twelve month high of $34.55. The business has a 50-day moving average of $27.17 and a two-hundred day moving average of $24.75. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of -9.64 and a beta of 1.49. 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 (NYSE:TPC) last posted its earnings results on Wednesday, November 6th. The construction company reported ($1.92) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.89) by ($0.03). The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.17 billion. Tutor Perini had a negative return on equity of 9.56% and a negative net margin of 3.08%. Tutor Perini’s revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.71) EPS. On average, equities analysts predict that Tutor Perini will post -1.47 EPS for the current year.

Insiders Place Their Bets

In other Tutor Perini news, CEO Ronald N. Tutor sold 50,000 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $30.78, for a total transaction of $1,539,000.00. Following the transaction, the chief executive officer now owns 2,362,267 shares of the company’s stock, valued at approximately $72,710,578.26. The trade was a 2.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Raymond R. Oneglia sold 100,000 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $28.73, for a total transaction of $2,873,000.00. Following the transaction, the director now directly owns 400,000 shares in the company, valued at approximately $11,492,000. The trade was a 20.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 325,000 shares of company stock valued at $9,686,000 in the last 90 days. 19.50% of the stock is owned by insiders.

Institutional Trading of Tutor Perini

Several hedge funds have recently modified their holdings of TPC. Bank of New York Mellon Corp grew its holdings in shares of Tutor Perini by 8.8% during the second quarter. Bank of New York Mellon Corp now owns 155,931 shares of the construction company’s stock worth $3,396,000 after purchasing an additional 12,622 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Tutor Perini during the second quarter worth approximately $51,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Tutor Perini in the second quarter valued at approximately $202,000. nVerses Capital LLC purchased a new stake in Tutor Perini in the second quarter valued at approximately $63,000. Finally, Verus Capital Partners LLC boosted its holdings in shares of Tutor Perini by 61.9% in the second quarter. Verus Capital Partners LLC now owns 345,900 shares of the construction company’s stock valued at $7,534,000 after acquiring an additional 132,200 shares during the period. 65.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TPC has been the topic of a number of recent analyst reports. Vertical Research began coverage on Tutor Perini in a report on Tuesday, December 10th. They issued a “buy” rating and a $38.00 price objective on the stock. UBS Group upped their price target on 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 downgraded Tutor Perini from a “buy” rating to a “hold” rating in a research report on Wednesday, December 25th. Finally, B. Riley upped their target price on shares of Tutor Perini from $38.00 to $40.00 and gave the company a “buy” rating in a research report 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.