Tutor Perini Co. (NYSE:TPC) Sees Significant Drop in Short Interest

Tutor Perini Co. (NYSE:TPC - Get Free Report) was the recipient of a significant decline in short interest in the month of March. As of March 31st, there was short interest totalling 1,320,000 shares, a decline of 25.0% from the March 15th total of 1,760,000 shares. Based on an average daily volume of 333,000 shares, the days-to-cover ratio is currently 4.0 days. Approximately 3.1% of the company's shares are short sold.

Tutor Perini Stock Down 3.9 %

Shares of Tutor Perini stock traded down $0.56 on Friday, hitting $13.86. The company had a trading volume of 349,811 shares, compared to its average volume of 327,571. The firm has a market capitalization of $721.14 million, a P/E ratio of -4.21 and a beta of 1.62. Tutor Perini has a twelve month low of $4.90 and a twelve month high of $16.33. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.66 and a quick ratio of 1.66. The stock has a 50-day moving average of $11.89 and a 200-day moving average of $9.47.

Tutor Perini (NYSE:TPC - Get Free Report) last announced its earnings results on Wednesday, February 28th. The construction company reported ($0.91) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.98). Tutor Perini had a negative return on equity of 12.73% and a negative net margin of 4.41%. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $951.50 million. Research analysts predict that Tutor Perini will post 0.92 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Tutor Perini from a "buy" rating to a "hold" rating in a report on Saturday, March 30th.

Insider Activity at Tutor Perini

In related news, President Gary G. Smalley sold 27,958 shares of the business's stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $12.86, for a total transaction of $359,539.88. Following the completion of the transaction, the president now owns 112,245 shares in the company, valued at $1,443,470.70. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, President Gary G. Smalley sold 15,940 shares of the company's stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $13.28, for a total value of $211,683.20. Following the completion of the transaction, the president now owns 68,346 shares in the company, valued at $907,634.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Gary G. Smalley sold 27,958 shares of the company's stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $12.86, for a total transaction of $359,539.88. Following the completion of the transaction, the president now owns 112,245 shares of the company's stock, valued at approximately $1,443,470.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 64,201 shares of company stock worth $822,980. 21.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its holdings in Tutor Perini by 6.5% during the second quarter. BlackRock Inc. now owns 5,508,141 shares of the construction company's stock worth $39,383,000 after purchasing an additional 335,690 shares during the last quarter. Donald Smith & CO. Inc. boosted its holdings in Tutor Perini by 20.4% during the fourth quarter. Donald Smith & CO. Inc. now owns 3,899,899 shares of the construction company's stock worth $35,489,000 after purchasing an additional 659,657 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Tutor Perini by 2.7% during the first quarter. Dimensional Fund Advisors LP now owns 2,658,964 shares of the construction company's stock worth $28,716,000 after purchasing an additional 69,285 shares during the last quarter. Vanguard Group Inc. raised its position in Tutor Perini by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 2,308,023 shares of the construction company's stock worth $21,003,000 after acquiring an additional 60,076 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Tutor Perini by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,992,319 shares of the construction company's stock worth $18,130,000 after acquiring an additional 53,927 shares in the last quarter. Institutional investors and hedge funds 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.