Short Interest in Tutor Perini Co. (NYSE:TPC) Expands By 18.1%

Tutor Perini Co. (NYSE:TPC) saw a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 1,370,000 shares, a growth of 18.1% from the March 15th total of 1,160,000 shares. Based on an average trading volume of 612,600 shares, the days-to-cover ratio is presently 2.2 days. Currently, 3.1% of the shares of the company are sold short.

Analyst Ratings Changes

A number of equities analysts recently issued reports on TPC shares. StockNews.com lowered shares of Tutor Perini from a “buy” rating to a “hold” rating in a research report on Tuesday, January 28th. B. Riley upgraded shares of Tutor Perini to a “strong-buy” rating in a report on Tuesday, March 18th.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. FMR LLC increased its position in shares of Tutor Perini by 103.1% during the 3rd quarter. FMR LLC now owns 4,725 shares of the construction company’s stock worth $128,000 after purchasing an additional 2,399 shares in the last quarter. State Street Corp boosted its holdings in shares of Tutor Perini by 2.0% in the 3rd quarter. State Street Corp now owns 975,082 shares of the construction company’s stock worth $26,483,000 after acquiring an additional 19,518 shares in the last quarter. Barclays PLC grew its position in Tutor Perini by 298.0% during the 3rd quarter. Barclays PLC now owns 69,875 shares of the construction company’s stock worth $1,898,000 after acquiring an additional 52,319 shares during the last quarter. Geode Capital Management LLC raised its position in Tutor Perini by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,023,198 shares of the construction company’s stock valued at $27,795,000 after purchasing an additional 38,458 shares during the last quarter. Finally, Sculati Wealth Management LLC grew its holdings in shares of Tutor Perini by 18.5% during the third quarter. Sculati Wealth Management LLC now owns 208,712 shares of the construction company’s stock worth $5,669,000 after purchasing an additional 32,589 shares during the last quarter. 65.01% of the stock is currently owned by institutional investors and hedge funds.

Tutor Perini Stock Performance

TPC stock traded down $1.37 during midday trading on Monday, hitting $19.75. The stock had a trading volume of 1,305,528 shares, compared to its average volume of 530,935. Tutor Perini has a 52 week low of $13.29 and a 52 week high of $34.55. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.53. The stock has a 50-day simple moving average of $23.38 and a 200 day simple moving average of $25.18. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of -7.87 and a beta of 1.47.

Tutor Perini (NYSE:TPC) last issued its earnings results on Thursday, February 27th. The construction company reported ($1.51) earnings per share for the quarter, missing the consensus estimate of $0.29 by ($1.80). The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.08 billion. Tutor Perini had a negative net margin of 3.08% and a negative return on equity of 9.56%. During the same quarter last year, the firm posted ($0.91) earnings per share.

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.