Macquarie Group Ltd. raised its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 9.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 746,162 shares of the industrial products company’s stock after acquiring an additional 63,040 shares during the quarter. Macquarie Group Ltd. owned approximately 1.34% of Tetra Tech worth $35,928,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of the company. Rice Hall James & Associates LLC grew its stake in shares of Tetra Tech by 5.5% in the fourth quarter. Rice Hall James & Associates LLC now owns 1,272,473 shares of the industrial products company’s stock valued at $61,270,000 after buying an additional 66,381 shares in the last quarter. KAMES CAPITAL plc grew its stake in shares of Tetra Tech by 7.3% in the fourth quarter. KAMES CAPITAL plc now owns 1,209,670 shares of the industrial products company’s stock valued at $58,185,000 after buying an additional 82,147 shares in the last quarter. Boston Partners grew its stake in shares of Tetra Tech by 4.4% in the fourth quarter. Boston Partners now owns 1,079,262 shares of the industrial products company’s stock valued at $51,967,000 after buying an additional 45,770 shares in the last quarter. Neuberger Berman Group LLC grew its stake in shares of Tetra Tech by 1.4% in the third quarter. Neuberger Berman Group LLC now owns 783,488 shares of the industrial products company’s stock valued at $36,471,000 after buying an additional 10,692 shares in the last quarter. Finally, Allianz Asset Management GmbH grew its stake in shares of Tetra Tech by 35.5% in the third quarter. Allianz Asset Management GmbH now owns 582,449 shares of the industrial products company’s stock valued at $27,113,000 after buying an additional 152,695 shares in the last quarter. 87.21% of the stock is owned by institutional investors.
Several research firms recently weighed in on TTEK. Zacks Investment Research cut shares of Tetra Tech from a “hold” rating to a “sell” rating in a research note on Thursday, January 11th. Boenning Scattergood reissued a “buy” rating and issued a $65.00 target price on shares of Tetra Tech in a research note on Thursday, March 15th. ValuEngine raised shares of Tetra Tech from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. BidaskClub cut shares of Tetra Tech from a “buy” rating to a “hold” rating in a research report on Wednesday, January 10th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $60.00 price objective on shares of Tetra Tech in a research report on Thursday, February 1st. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Tetra Tech has an average rating of “Buy” and a consensus price target of $56.14.
In related news, SVP Richard A. Lemmon sold 15,089 shares of the business’s stock in a transaction dated Friday, March 16th. The stock was sold at an average price of $51.09, for a total value of $770,897.01. Following the completion of the transaction, the senior vice president now owns 51,785 shares of the company’s stock, valued at $2,645,695.65. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Dan L. Batrack sold 68,270 shares of the business’s stock in a transaction dated Wednesday, March 14th. The shares were sold at an average price of $51.62, for a total value of $3,524,097.40. The disclosure for this sale can be found here. Insiders have sold 164,331 shares of company stock valued at $8,343,340 in the last three months. Insiders own 3.40% of the company’s stock.
Shares of TTEK stock opened at $51.35 on Wednesday. Tetra Tech, Inc. has a twelve month low of $39.00 and a twelve month high of $53.40. The company has a current ratio of 2.25, a quick ratio of 2.25 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $2,867.94, a price-to-earnings ratio of 22.42, a PEG ratio of 1.53 and a beta of 1.00.
Tetra Tech (NASDAQ:TTEK) last posted its earnings results on Wednesday, January 31st. The industrial products company reported $0.65 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.12. Tetra Tech had a return on equity of 14.26% and a net margin of 4.83%. The company had revenue of $544.85 million during the quarter, compared to the consensus estimate of $510.22 million. During the same quarter last year, the firm earned $0.49 earnings per share. The company’s revenue was up 11.3% on a year-over-year basis. research analysts forecast that Tetra Tech, Inc. will post 2.49 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, March 2nd. Stockholders of record on Wednesday, February 14th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date was Tuesday, February 13th. Tetra Tech’s dividend payout ratio is currently 16.74%.
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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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