Renaissance Technologies LLC cut its stake in Tetra Tech, Inc. (NASDAQ:TTEK) by 14.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 140,600 shares of the industrial products company’s stock after selling 23,900 shares during the quarter. Renaissance Technologies LLC owned about 0.25% of Tetra Tech worth $6,770,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Janney Montgomery Scott LLC purchased a new position in shares of Tetra Tech in the 3rd quarter valued at $330,000. Wells Fargo & Company MN increased its holdings in shares of Tetra Tech by 76.4% in the 3rd quarter. Wells Fargo & Company MN now owns 318,483 shares of the industrial products company’s stock valued at $14,825,000 after acquiring an additional 137,887 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Tetra Tech by 50.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,054 shares of the industrial products company’s stock valued at $147,000 after acquiring an additional 1,019 shares during the period. Asset Management One Co. Ltd. purchased a new position in shares of Tetra Tech in the 3rd quarter valued at $6,270,000. Finally, Public Employees Retirement System of Ohio increased its holdings in shares of Tetra Tech by 45.8% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 27,299 shares of the industrial products company’s stock valued at $1,271,000 after acquiring an additional 8,570 shares during the period. Institutional investors and hedge funds own 87.35% of the company’s stock.
NASDAQ TTEK opened at $52.10 on Friday. Tetra Tech, Inc. has a twelve month low of $39.95 and a twelve month high of $53.40. The stock has a market capitalization of $2,926.58, a P/E ratio of 22.88, a price-to-earnings-growth ratio of 1.56 and a beta of 0.97. The company has a quick ratio of 2.25, a current ratio of 2.25 and a debt-to-equity ratio of 0.46.
Tetra Tech (NASDAQ:TTEK) last announced its earnings results on Wednesday, January 31st. The industrial products company reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.12. Tetra Tech had a return on equity of 14.26% and a net margin of 4.83%. The business had revenue of $544.85 million during the quarter, compared to analysts’ expectations of $510.22 million. During the same quarter in the prior year, the firm earned $0.49 earnings per share. The business’s revenue was up 11.3% compared to the same quarter last year. equities research analysts expect that Tetra Tech, Inc. will post 2.49 EPS for the current year.
TTEK has been the topic of several research analyst reports. BidaskClub upgraded Tetra Tech from a “hold” rating to a “buy” rating in a research note on Tuesday. Zacks Investment Research downgraded Tetra Tech from a “hold” rating to a “sell” rating in a research note on Thursday, January 11th. Stifel Nicolaus boosted their target price on Tetra Tech from $52.00 to $53.00 and gave the stock a “hold” rating in a research note on Monday, April 2nd. Boenning Scattergood reiterated a “buy” rating and set a $65.00 price target on shares of Tetra Tech in a research note on Thursday, March 15th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $60.00 price target 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’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $57.00.
In other news, SVP William R. Brownlie sold 4,037 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $46.16, for a total value of $186,347.92. Following the completion of the sale, the senior vice president now directly owns 82,226 shares in the company, valued at $3,795,552.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Richard A. Lemmon sold 15,089 shares of the company’s stock in a transaction that occurred on Friday, March 16th. The shares were sold at an average price of $51.09, for a total value of $770,897.01. Following the completion of the sale, the senior vice president now owns 51,785 shares of the company’s stock, valued at $2,645,695.65. 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.
Tetra Tech Company 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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