Short Interest in Tutor Perini Co. (NYSE:TPC) Drops By 14.7%

Tutor Perini Co. (NYSE:TPC) saw a large decline in short interest in the month of March. As of March 15th, there was short interest totalling 1,160,000 shares, a decline of 14.7% from the February 28th total of 1,360,000 shares. Currently, 2.7% of the company’s shares are sold short. Based on an average daily trading volume, of 601,600 shares, the short-interest ratio is currently 1.9 days.

Hedge Funds Weigh In On Tutor Perini

Several hedge funds have recently made changes to their positions in TPC. Commonwealth Equity Services LLC increased its position in shares of Tutor Perini by 7.3% in the fourth quarter. Commonwealth Equity Services LLC now owns 10,291 shares of the construction company’s stock valued at $249,000 after acquiring an additional 700 shares during the last quarter. Sterling Capital Management LLC increased its position in shares of Tutor Perini by 7.0% during the 4th quarter. Sterling Capital Management LLC now owns 18,836 shares of the construction company’s stock worth $456,000 after purchasing an additional 1,235 shares during the last quarter. Gotham Asset Management LLC raised its stake in shares of Tutor Perini by 4.3% during the 4th quarter. Gotham Asset Management LLC now owns 38,684 shares of the construction company’s stock worth $936,000 after purchasing an additional 1,609 shares in the last quarter. EP Wealth Advisors LLC boosted its holdings in shares of Tutor Perini by 19.5% in the 4th quarter. EP Wealth Advisors LLC now owns 10,294 shares of the construction company’s stock valued at $249,000 after buying an additional 1,680 shares during the last quarter. Finally, State of Wyoming grew its stake in shares of Tutor Perini by 39.7% in the fourth quarter. State of Wyoming now owns 6,212 shares of the construction company’s stock valued at $150,000 after buying an additional 1,764 shares in the last quarter. 65.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on TPC shares. Vertical Research initiated coverage on Tutor Perini in a research note on Tuesday, December 10th. They set a “buy” rating and a $38.00 price objective on the stock. B. Riley raised Tutor Perini to a “strong-buy” rating in a research report on Tuesday, March 18th. Finally, StockNews.com lowered Tutor Perini from a “buy” rating to a “hold” rating in a research report on Tuesday, January 28th.

Tutor Perini Trading Down 1.4 %

TPC opened at $23.19 on Tuesday. The firm’s fifty day simple moving average is $24.36 and its 200 day simple moving average is $25.72. The stock has a market capitalization of $1.22 billion, a P/E ratio of -9.24 and a beta of 1.73. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.53. Tutor Perini has a 12 month low of $13.15 and a 12 month high of $34.55.

Tutor Perini (NYSE:TPC) last issued its quarterly earnings results on Thursday, February 27th. The construction company reported ($1.51) EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($1.80). The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate 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 earned ($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.