What Next for Tutor Perini Corporation (NYSE:TPC) Stock After Increase in Shorted Shares?

October 13, 2018 - By Hugh Holland

Tutor Perini Corporation (NYSE:TPC) Logo

Investors sentiment decreased to 0.94 in 2018 Q2. Its down 0.55, from 1.49 in 2018Q1. It turned negative, as 22 investors sold Tutor Perini Corporation shares while 45 reduced holdings. 18 funds opened positions while 45 raised stakes. 39.29 million shares or 4.40% less from 41.10 million shares in 2018Q1 were reported.
Livforsakringsbolaget Skandia Omsesidigt reported 40,181 shares stake. Pub Employees Retirement Association Of Colorado has 10,465 shares. Employees Retirement Sys Of Texas accumulated 28,000 shares. Lsv Asset Mngmt accumulated 487,373 shares. Advsr Asset Management holds 0.05% of its portfolio in Tutor Perini Corporation (NYSE:TPC) for 19,611 shares. Manufacturers Life Insur The reported 28,744 shares. Envestnet Asset Management Inc invested in 0% or 277 shares. Oppenheimer And Co, a New York-based fund reported 25,548 shares. Covington Cap reported 0.01% in Tutor Perini Corporation (NYSE:TPC). Zurcher Kantonalbank (Zurich Cantonalbank) holds 0% of its portfolio in Tutor Perini Corporation (NYSE:TPC) for 2,225 shares. Daiwa Secs Group Inc Inc Inc accumulated 220,200 shares or 0.03% of the stock. Savings Bank Of New York Mellon Corp has invested 0% in Tutor Perini Corporation (NYSE:TPC). California State Teachers Retirement Sys stated it has 0% of its portfolio in Tutor Perini Corporation (NYSE:TPC). Systematic Finance Mgmt Limited Partnership reported 0.03% in Tutor Perini Corporation (NYSE:TPC). Price T Rowe Associates Md holds 23,609 shares or 0% of its portfolio.

Since May 30, 2018, it had 0 buys, and 8 selling transactions for $8.07 million activity. TUTOR RONALD N had sold 50,000 shares worth $991,500.

The stock of Tutor Perini Corporation (NYSE:TPC) registered an increase of 2.58% in short interest. TPC’s total short interest was 6.58 million shares in October as published by FINRA. Its up 2.58% from 6.41 million shares, reported previously. With 302,900 shares average volume, it will take short sellers 22 days to cover their TPC’s short positions. The short interest to Tutor Perini Corporation’s float is 16.76%.

The stock decreased 0.28% or $0.05 during the last trading session, reaching $17.8. About 1.18 million shares traded or 248.61% up from the average. Tutor Perini Corporation (NYSE:TPC) has declined 21.74% since October 13, 2017 and is downtrending. It has underperformed by 37.36% the S&P500.

Tutor Perini Corporation provides diversified general contracting, construction management, and design-build services to private clients and public agencies worldwide. The company has market cap of $890.29 million. It operates through three divisions: Civil, Building, and Specialty Contractors. It has a 7.67 P/E ratio. 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.

Tutor Perini Corporation (NYSE:TPC) Ratings Coverage

Among 2 analysts covering Tutor Perini Corp (NYSE:TPC), 2 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Tutor Perini Corp had 2 analyst reports since April 23, 2018 according to SRatingsIntel. The stock of Tutor Perini Corporation (NYSE:TPC) has “Buy” rating given on Wednesday, August 8 by FBR Capital.

Tutor Perini Corporation (NYSE:TPC) Institutional Positions Chart

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