Tutor Perini Co. (NYSE:TPC) Short Interest Down 14.7% in March

Tutor Perini Co. (NYSE:TPC - Get Free Report) was the target of a significant decline in short interest in 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 stock are sold short. Based on an average trading volume of 601,600 shares, the days-to-cover ratio is presently 1.9 days.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. 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 for the company. B. Riley upgraded Tutor Perini to a "strong-buy" rating in a research note on Tuesday, March 18th. Finally, StockNews.com lowered shares of Tutor Perini from a "buy" rating to a "hold" rating in a research note on Tuesday, January 28th.

Institutional Trading of Tutor Perini

Hedge funds have recently modified their holdings of the business. Intech Investment Management LLC acquired a new position in Tutor Perini during the third quarter valued at $339,000. The Manufacturers Life Insurance Company increased its holdings in shares of Tutor Perini by 35.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 22,827 shares of the construction company's stock valued at $620,000 after purchasing an additional 5,953 shares during the period. Quantbot Technologies LP lifted its position in shares of Tutor Perini by 88.9% in the third quarter. Quantbot Technologies LP now owns 20,597 shares of the construction company's stock worth $559,000 after purchasing an additional 9,691 shares in the last quarter. FMR LLC lifted its position in shares of Tutor Perini by 103.1% in the third 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. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Tutor Perini by 7.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 60,331 shares of the construction company's stock worth $1,639,000 after purchasing an additional 4,070 shares during the period. Hedge funds and other institutional investors own 65.01% of the company's stock.

Tutor Perini Stock Performance

Tutor Perini stock traded down $1.21 during mid-day trading on Friday, hitting $20.42. 792,677 shares of the company's stock traded hands, compared to its average volume of 518,262. 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 has a one year low of $13.15 and a one year high of $34.55. The firm has a 50 day moving average price of $24.00 and a 200 day moving average price of $25.66. The company has a market cap of $1.07 billion, a PE ratio of -8.13 and a beta of 1.47.

Tutor Perini (NYSE:TPC - Get Free Report) last released its earnings results on Thursday, February 27th. The construction company reported ($1.51) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.29 by ($1.80). Tutor Perini had a negative return on equity of 9.56% and a negative net margin of 3.08%. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same period in the previous 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.