Public Employees Retirement Association of Colorado held its position in shares of Tetra Tech, Inc. (NASDAQ:TTEK) during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 11,517 shares of the industrial products company’s stock at the end of the first quarter. Public Employees Retirement Association of Colorado’s holdings in Tetra Tech were worth $470,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in the stock. Norges Bank acquired a new position in Tetra Tech during the fourth quarter valued at approximately $83,979,000. State Street Corp boosted its position in Tetra Tech by 7.0% in the fourth quarter. State Street Corp now owns 1,337,680 shares of the industrial products company’s stock valued at $57,724,000 after buying an additional 87,650 shares during the last quarter. Macquarie Group Ltd. boosted its position in Tetra Tech by 17.0% in the fourth quarter. Macquarie Group Ltd. now owns 1,198,396 shares of the industrial products company’s stock valued at $51,711,000 after buying an additional 174,539 shares during the last quarter. KAMES CAPITAL plc boosted its position in Tetra Tech by 1,862.0% in the first quarter. KAMES CAPITAL plc now owns 1,049,075 shares of the industrial products company’s stock valued at $42,855,000 after buying an additional 995,604 shares during the last quarter. Finally, Emerald Advisers Inc. PA boosted its position in Tetra Tech by 79.7% in the first quarter. Emerald Advisers Inc. PA now owns 653,361 shares of the industrial products company’s stock valued at $26,690,000 after buying an additional 289,780 shares during the last quarter. Institutional investors own 84.75% of the company’s stock.
Shares of Tetra Tech, Inc. (TTEK) opened at 45.35 on Wednesday. Tetra Tech, Inc. has a 1-year low of $29.12 and a 1-year high of $47.75. The stock has a 50 day moving average price of $45.70 and a 200-day moving average price of $42.89. The company has a market cap of $2.59 billion, a price-to-earnings ratio of 23.93 and a beta of 1.02.
Tetra Tech (NASDAQ:TTEK) last released its quarterly earnings results on Wednesday, May 3rd. The industrial products company reported $0.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.02. The company had revenue of $511.95 million during the quarter, compared to analyst estimates of $491.60 million. Tetra Tech had a return on equity of 13.70% and a net margin of 4.04%. The firm’s revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the business posted $0.37 earnings per share. Equities research analysts forecast that Tetra Tech, Inc. will post $2.22 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, June 2nd. Investors of record on Thursday, May 18th were given a $0.10 dividend. The ex-dividend date was Tuesday, May 16th. This represents a $0.40 annualized dividend and a yield of 0.88%. This is a positive change from Tetra Tech’s previous quarterly dividend of $0.09. Tetra Tech’s dividend payout ratio (DPR) is currently 21.16%.
Several research firms recently commented on TTEK. Canaccord Genuity restated a “buy” rating and set a $52.00 target price on shares of Tetra Tech in a research report on Wednesday, June 7th. Sidoti reiterated a “buy” rating and issued a $58.00 price objective (up from $55.00) on shares of Tetra Tech in a report on Sunday, May 14th. Finally, Zacks Investment Research cut Tetra Tech from a “hold” rating to a “sell” rating in a report on Wednesday, April 12th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. Tetra Tech has a consensus rating of “Hold” and an average price target of $46.78.
In related news, CFO Steven M. Burdick sold 16,750 shares of Tetra Tech stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $44.87, for a total value of $751,572.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Richard H. Truly sold 8,000 shares of Tetra Tech stock in a transaction dated Monday, April 10th. The stock was sold at an average price of $41.31, for a total value of $330,480.00. Following the completion of the transaction, the director now owns 21,220 shares of the company’s stock, valued at approximately $876,598.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 362,464 shares of company stock valued at $16,528,179. 4.00% of the stock is currently owned by company insiders.
About Tetra Tech
Tetra Tech, Inc is a provider of consulting, engineering, program management, construction management, and technical services. The Company’s segments include Water, Environment and Infrastructure (WEI), Resource Management and Energy (RME), and Remediation and Construction Management (RCM). The WEI segment provides consulting and engineering services.
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