Barrett Asset Management LLC raised its position in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 3.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 471,300 shares of the industrial products company’s stock after purchasing an additional 16,815 shares during the period. Tetra Tech makes up approximately 1.6% of Barrett Asset Management LLC’s investment portfolio, making the stock its 24th biggest position. Barrett Asset Management LLC owned 0.83% of Tetra Tech worth $21,939,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Advisor Group Inc. raised its position in Tetra Tech by 194.9% during the second quarter. Advisor Group Inc. now owns 3,279 shares of the industrial products company’s stock valued at $150,000 after purchasing an additional 2,167 shares in the last quarter. Strs Ohio raised its position in Tetra Tech by 45.2% during the second quarter. Strs Ohio now owns 4,500 shares of the industrial products company’s stock valued at $205,000 after purchasing an additional 1,400 shares in the last quarter. Tocqueville Asset Management L.P. acquired a new position in Tetra Tech during the second quarter valued at approximately $206,000. Teacher Retirement System of Texas acquired a new position in Tetra Tech during the second quarter valued at approximately $210,000. Finally, Everence Capital Management Inc. acquired a new position in Tetra Tech during the second quarter valued at approximately $217,000. Institutional investors and hedge funds own 85.84% of the company’s stock.
In related news, insider Ronald J. Chu sold 696 shares of the business’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $50.00, for a total value of $34,800.00. Following the sale, the insider now owns 37,800 shares of the company’s stock, valued at $1,890,000. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Ronald J. Chu sold 14,112 shares of the business’s stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $50.00, for a total transaction of $705,600.00. Following the completion of the sale, the insider now directly owns 51,216 shares in the company, valued at approximately $2,560,800. The disclosure for this sale can be found here. In the last three months, insiders sold 57,203 shares of company stock worth $2,860,150. 4.00% of the stock is currently owned by insiders.
TTEK has been the subject of several research analyst reports. Roth Capital set a $52.00 price objective on shares of Tetra Tech and gave the company a “buy” rating in a research report on Wednesday, August 2nd. Canaccord Genuity restated a “buy” rating and set a $52.00 price objective on shares of Tetra Tech in a research report on Friday, August 4th. Boenning Scattergood restated a “buy” rating and set a $54.00 price objective on shares of Tetra Tech in a research report on Thursday, November 9th. Zacks Investment Research upgraded shares of Tetra Tech from a “sell” rating to a “hold” rating in a research report on Friday, October 6th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $47.00 price target on shares of Tetra Tech in a report on Thursday, September 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $52.29.
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Shares of Tetra Tech, Inc. (NASDAQ TTEK) traded up $1.45 during trading hours on Wednesday, hitting $50.00. 343,000 shares of the stock traded hands, compared to its average volume of 345,227. The firm has a market capitalization of $2,705.33, a P/E ratio of 22.79, a PEG ratio of 1.55 and a beta of 1.08. The company has a quick ratio of 1.97, a current ratio of 1.94 and a debt-to-equity ratio of 0.37. Tetra Tech, Inc. has a 52 week low of $38.85 and a 52 week high of $50.15.
Tetra Tech (NASDAQ:TTEK) last announced its quarterly earnings results on Wednesday, November 8th. The industrial products company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.02. The company had revenue of $533.00 million during the quarter, compared to the consensus estimate of $517.90 million. Tetra Tech had a net margin of 4.28% and a return on equity of 13.60%. The company’s revenue for the quarter was up .4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.59 earnings per share. sell-side analysts expect that Tetra Tech, Inc. will post 2.32 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be paid a $0.10 dividend. The ex-dividend date is Wednesday, November 29th. This represents a $0.40 annualized dividend and a dividend yield of 0.80%. Tetra Tech’s dividend payout ratio is 19.61%.
Tetra Tech Profile
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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