Tetra Tech Inc. (TTEK) Shares Sold by Genesee Valley Trust Co.
Genesee Valley Trust Co. decreased its stake in shares of Tetra Tech Inc. (NASDAQ:TTEK) by 1.9% during the second quarter, Holdings Channel reports. The firm owned 28,437 shares of the company’s stock after selling 558 shares during the period. Genesee Valley Trust Co.’s holdings in Tetra Tech were worth $874,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Acrospire Investment Management LLC bought a new stake in Tetra Tech during the first quarter valued at approximately $113,000. Invictus RG boosted its position in shares of Tetra Tech by 1,003.7% in the first quarter. Invictus RG now owns 4,448 shares of the company’s stock worth $133,000 after buying an additional 4,045 shares during the last quarter. Bessemer Group Inc. boosted its position in shares of Tetra Tech by 2.9% in the first quarter. Bessemer Group Inc. now owns 7,168 shares of the company’s stock worth $214,000 after buying an additional 203 shares during the last quarter. Squarepoint Ops LLC acquired a new position in shares of Tetra Tech during the first quarter worth about $226,000. Finally, Bayesian Capital Management LP acquired a new position in shares of Tetra Tech during the first quarter worth about $277,000. 89.12% of the stock is currently owned by institutional investors and hedge funds.
Shares of Tetra Tech Inc. (NASDAQ:TTEK) traded down 0.40% during trading on Tuesday, reaching $35.19. 267,250 shares of the company’s stock were exchanged. Tetra Tech Inc. has a 52-week low of $22.85 and a 52-week high of $36.24. The stock has a market cap of $2.02 billion, a PE ratio of 98.85 and a beta of 1.18. The stock’s 50 day moving average price is $34.65 and its 200-day moving average price is $31.21.
Tetra Tech (NASDAQ:TTEK) last issued its earnings results on Wednesday, July 27th. The company reported $0.50 EPS for the quarter, meeting the consensus estimate of $0.50. The company earned $667 million during the quarter, compared to analysts’ expectations of $498.79 million. Tetra Tech had a net margin of 0.86% and a return on equity of 12.31%. The business’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.43 EPS. On average, equities research analysts forecast that Tetra Tech Inc. will post $1.88 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, August 31st. Stockholders of record on Friday, August 12th were given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend was Wednesday, August 10th. Tetra Tech’s payout ratio is presently 100.00%.
A number of equities analysts have issued reports on the stock. Canaccord Genuity reaffirmed a “buy” rating and issued a $37.00 price objective on shares of Tetra Tech in a research note on Friday, July 29th. Zacks Investment Research cut shares of Tetra Tech from a “hold” rating to a “sell” rating in a research note on Monday, July 18th. Finally, FBR & Co raised their price objective on shares of Tetra Tech from $32.00 to $36.00 and gave the company a “market perform” rating in a research note on Friday, July 29th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $32.60.
In other news, SVP Richard A. Lemmon sold 8,000 shares of the business’s stock in a transaction that occurred on Thursday, June 23rd. The shares were sold at an average price of $31.25, for a total value of $250,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Steven M. Burdick sold 16,750 shares of the business’s stock in a transaction that occurred on Monday, July 11th. The shares were sold at an average price of $31.23, for a total transaction of $523,102.50. The disclosure for this sale can be found here. 4.00% of the stock is currently owned by insiders.
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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