Bank of New York Mellon Corp decreased its holdings in Tetra Tech, Inc. (NASDAQ:TTEK) by 1.2% in the 4th quarter, HoldingsChannel reports. The fund owned 857,283 shares of the industrial products company’s stock after selling 10,844 shares during the quarter. Bank of New York Mellon Corp’s holdings in Tetra Tech were worth $41,277,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of TTEK. Crossmark Global Holdings Inc. acquired a new position in shares of Tetra Tech in the third quarter worth $774,000. Boston Partners grew its stake in shares of Tetra Tech by 2.2% during the third quarter. Boston Partners now owns 1,033,492 shares of the industrial products company’s stock worth $48,109,000 after purchasing an additional 22,718 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Tetra Tech by 14.2% during the third quarter. Principal Financial Group Inc. now owns 636,867 shares of the industrial products company’s stock worth $29,646,000 after purchasing an additional 79,198 shares in the last quarter. BNP Paribas Arbitrage SA grew its stake in shares of Tetra Tech by 33.6% during the third quarter. BNP Paribas Arbitrage SA now owns 35,473 shares of the industrial products company’s stock worth $1,651,000 after purchasing an additional 8,924 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan grew its stake in shares of Tetra Tech by 36.9% during the third quarter. Municipal Employees Retirement System of Michigan now owns 29,410 shares of the industrial products company’s stock worth $1,369,000 after purchasing an additional 7,920 shares in the last quarter. Institutional investors and hedge funds own 82.71% of the company’s stock.
Tetra Tech, Inc. (NASDAQ:TTEK) opened at $52.35 on Monday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.25 and a current ratio of 2.25. The company has a market cap of $2,923.80, a price-to-earnings ratio of 21.90, a P/E/G ratio of 1.54 and a beta of 1.00. Tetra Tech, Inc. has a 12 month low of $38.85 and a 12 month high of $53.40.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 2nd. Shareholders of record on Wednesday, February 14th were paid a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, February 13th. This represents a $0.40 annualized dividend and a yield of 0.76%. Tetra Tech’s dividend payout ratio is presently 16.74%.
In other Tetra Tech news, CEO Dan L. Batrack sold 10,874 shares of the company’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $48.34, for a total value of $525,649.16. Following the completion of the transaction, the chief executive officer now owns 286,551 shares in the company, valued at $13,851,875.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP William R. Brownlie sold 12,713 shares of the company’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $50.36, for a total transaction of $640,226.68. The disclosure for this sale can be found here. Insiders sold 73,435 shares of company stock valued at $3,627,631 in the last 90 days. 3.40% of the stock is currently owned by insiders.
TTEK has been the subject of a number of analyst reports. BidaskClub downgraded shares of Tetra Tech from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 9th. ValuEngine downgraded shares of Tetra Tech from a “buy” rating to a “hold” rating in a research note on Wednesday, December 20th. Zacks Investment Research upgraded shares of Tetra Tech from a “hold” rating to a “buy” rating and set a $59.00 target price for the company in a research note on Friday, February 2nd. Finally, Canaccord Genuity reiterated a “buy” rating and set a $60.00 target price on shares of Tetra Tech in a research note on Thursday, February 1st. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $54.57.
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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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