Tutor Perini Corp (NYSE:TPC) Short Interest Up 8.1% in May

Tutor Perini Corp (NYSE:TPC) saw a large increase in short interest in May. As of May 31st, there was short interest totalling 8,299,400 shares, an increase of 8.1% from the April 30th total of 7,675,300 shares. Approximately 21.1% of the shares of the stock are short sold. Based on an average trading volume of 336,200 shares, the days-to-cover ratio is presently 24.7 days.

In related news, CEO Ronald N. Tutor sold 50,000 shares of the company’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $13.31, for a total value of $665,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder N. Tutor Separate Prope Ronald sold 20,000 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $16.51, for a total transaction of $330,200.00. Following the completion of the sale, the insider now directly owns 5,594,050 shares of the company’s stock, valued at approximately $92,357,765.50. The disclosure for this sale can be found here. In the last three months, insiders sold 120,000 shares of company stock valued at $1,823,200. 24.30% of the stock is owned by insiders.

Institutional investors have recently added to or reduced their stakes in the business. NumerixS Investment Technologies Inc acquired a new stake in Tutor Perini in the fourth quarter valued at $32,000. Covington Capital Management raised its stake in shares of Tutor Perini by 90.2% during the 4th quarter. Covington Capital Management now owns 8,435 shares of the construction company’s stock worth $135,000 after buying an additional 4,000 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of Tutor Perini by 142.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 8,716 shares of the construction company’s stock worth $149,000 after buying an additional 5,127 shares during the last quarter. Denali Advisors LLC acquired a new position in shares of Tutor Perini during the 2nd quarter worth $182,000. Finally, Metropolitan Life Insurance Co. NY raised its stake in shares of Tutor Perini by 363.5% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 12,264 shares of the construction company’s stock worth $196,000 after buying an additional 9,618 shares during the last quarter. 89.69% of the stock is owned by institutional investors.

NYSE:TPC traded up $0.34 during mid-day trading on Friday, hitting $14.18. The stock had a trading volume of 376,362 shares, compared to its average volume of 458,447. The company has a market capitalization of $694.49 million, a P/E ratio of 7.42, a PEG ratio of 0.66 and a beta of 1.91. Tutor Perini has a twelve month low of $12.62 and a twelve month high of $22.02. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.49. The firm’s 50-day simple moving average is $14.18.

Tutor Perini (NYSE:TPC) last announced its earnings results on Wednesday, May 8th. The construction company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.06). Tutor Perini had a return on equity of 5.42% and a net margin of 2.17%. The business had revenue of $958.49 million for the quarter, compared to analysts’ expectations of $1.01 billion. As a group, equities analysts anticipate that Tutor Perini will post 2.11 EPS for the current fiscal year.

TPC has been the topic of a number of recent analyst reports. TheStreet cut shares of Tribune Publishing from a “c-” rating to a “d+” rating in a research report on Monday, May 20th. Zacks Investment Research cut shares of Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, May 11th. ValuEngine raised shares of VESTAS WIND SYS/ADR from a “hold” rating to a “buy” rating in a research report on Thursday, May 9th. Finally, DA Davidson raised shares of Tutor Perini from a “neutral” rating to a “buy” rating and set a $22.00 price target on the stock in a research report on Monday, July 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. Tutor Perini has an average rating of “Hold” and a consensus price target of $22.50.

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 worldwide. The company operates through three segments: Civil, Building, and Specialty Contractors. The Civil segment engages in the public works construction, replacement, and reconstruction of infrastructure, including highways, bridges, tunnels, mass-transit systems, and water management and wastewater treatment facilities.

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