BlueCrest Capital Management Ltd boosted its position in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 112.8% in the 4th quarter, HoldingsChannel reports. The fund owned 20,052 shares of the industrial products company’s stock after acquiring an additional 10,629 shares during the period. BlueCrest Capital Management Ltd’s holdings in Tetra Tech were worth $966,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Crossmark Global Holdings Inc. acquired a new position in Tetra Tech during the 3rd quarter worth approximately $774,000. Janney Montgomery Scott LLC acquired a new position in Tetra Tech during the 3rd quarter worth approximately $330,000. Wells Fargo & Company MN grew its holdings in Tetra Tech by 76.4% during the 3rd quarter. Wells Fargo & Company MN now owns 318,483 shares of the industrial products company’s stock worth $14,825,000 after acquiring an additional 137,887 shares in the last quarter. American International Group Inc. grew its holdings in Tetra Tech by 5.6% during the 3rd quarter. American International Group Inc. now owns 45,220 shares of the industrial products company’s stock worth $2,105,000 after acquiring an additional 2,390 shares in the last quarter. Finally, Asset Management One Co. Ltd. acquired a new position in Tetra Tech during the 3rd quarter worth approximately $6,270,000. Institutional investors own 87.25% of the company’s stock.
Several research analysts have commented on the stock. ValuEngine upgraded shares of Tetra Tech from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. BidaskClub upgraded shares of Tetra Tech from a “sell” rating to a “hold” rating in a report on Friday, February 23rd. 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 report on Friday, February 2nd. Finally, Canaccord Genuity restated a “buy” rating and issued a $60.00 target price on shares of Tetra Tech in a report on Thursday, February 1st. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $54.57.
Tetra Tech (NASDAQ:TTEK) last issued its earnings results on Wednesday, January 31st. The industrial products company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.12. The business had revenue of $544.85 million during the quarter, compared to analysts’ expectations of $510.22 million. Tetra Tech had a net margin of 4.83% and a return on equity of 14.26%. The company’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.49 EPS. sell-side analysts expect that Tetra Tech, Inc. will post 2.51 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 2nd. Investors of record on Wednesday, February 14th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend was Tuesday, February 13th. Tetra Tech’s dividend payout ratio is currently 16.74%.
In related news, Director Hugh M. Grant sold 8,000 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $48.00, for a total transaction of $384,000.00. Following the completion of the sale, the director now owns 25,621 shares in the company, valued at approximately $1,229,808. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP William R. Brownlie sold 4,037 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $46.16, for a total transaction of $186,347.92. Following the sale, the senior vice president now owns 82,226 shares of the company’s stock, valued at approximately $3,795,552.16. The disclosure for this sale can be found here. In the last quarter, insiders have sold 62,561 shares of company stock valued at $3,101,982. 3.40% of the stock is 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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