California Public Employees Retirement System Lowers Stock Holdings in Tetra Tech, Inc. (NASDAQ:TTEK)

California Public Employees Retirement System lowered its holdings in Tetra Tech, Inc. (NASDAQ:TTEKGet Rating) by 5.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 116,090 shares of the industrial products company’s stock after selling 6,872 shares during the period. California Public Employees Retirement System owned 0.21% of Tetra Tech worth $19,712,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in TTEK. CWM LLC purchased a new stake in shares of Tetra Tech in the fourth quarter valued at $44,000. First Horizon Advisors Inc. grew its position in shares of Tetra Tech by 355.2% in the third quarter. First Horizon Advisors Inc. now owns 569 shares of the industrial products company’s stock valued at $56,000 after purchasing an additional 444 shares during the period. UMB Bank N A MO purchased a new stake in shares of Tetra Tech in the fourth quarter valued at $60,000. National Bank of Canada FI purchased a new stake in shares of Tetra Tech in the fourth quarter valued at $85,000. Finally, Cambridge Investment Research Advisors Inc. purchased a new stake in Tetra Tech during the fourth quarter valued at about $202,000. 87.75% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ TTEK opened at $125.18 on Friday. Tetra Tech, Inc. has a 1-year low of $116.01 and a 1-year high of $192.91. The business has a 50-day moving average of $152.54 and a 200-day moving average of $160.00. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.26 and a quick ratio of 1.31. The company has a market capitalization of $6.72 billion, a price-to-earnings ratio of 26.63 and a beta of 0.93.

Tetra Tech (NASDAQ:TTEKGet Rating) last issued its earnings results on Wednesday, May 4th. The industrial products company reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.08. Tetra Tech had a return on equity of 18.53% and a net margin of 7.53%. The company had revenue of $699.64 million during the quarter, compared to the consensus estimate of $653.85 million. During the same quarter in the prior year, the business earned $0.83 earnings per share. The company’s revenue was up 16.6% compared to the same quarter last year. Research analysts expect that Tetra Tech, Inc. will post 4.42 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, May 27th. Stockholders of record on Friday, May 13th will be given a $0.23 dividend. This is an increase from Tetra Tech’s previous quarterly dividend of $0.20. The ex-dividend date is Thursday, May 12th. This represents a $0.92 annualized dividend and a dividend yield of 0.73%. Tetra Tech’s dividend payout ratio is presently 17.02%.

In related news, Director Patrick C. Haden sold 318 shares of the business’s stock in a transaction dated Thursday, March 17th. The stock was sold at an average price of $164.54, for a total value of $52,323.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Kirsten M. Volpi sold 900 shares of the business’s stock in a transaction dated Tuesday, March 8th. The stock was sold at an average price of $156.34, for a total value of $140,706.00. The disclosure for this sale can be found here. Insiders sold 10,185 shares of company stock valued at $1,673,750 in the last ninety days. Company insiders own 1.20% of the company’s stock.

A number of research firms have issued reports on TTEK. Boenning Scattergood reissued a “neutral” rating on shares of Tetra Tech in a research report on Thursday, May 5th. Maxim Group lowered their price target on Tetra Tech from $215.00 to $190.00 in a research report on Friday, May 6th. StockNews.com began coverage on Tetra Tech in a research report on Thursday, March 31st. They set a “buy” rating for the company. Finally, Robert W. Baird lowered their price target on Tetra Tech from $176.00 to $163.00 in a research report on Thursday, February 3rd.

Tetra Tech Company Profile (Get Rating)

Tetra Tech, Inc provides consulting and engineering services worldwide. The company operates through two segments Government Services Group (GSG) and Commercial/International Services Group (CIG). The GSG segment offers early data collection and monitoring, data analysis and information management, science and engineering applied research, engineering design, project management, and operations and maintenance services; and climate change and energy management consulting, as well as greenhouse gas inventory assessment, certification, reduction, and management services.

Further Reading

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Institutional Ownership by Quarter for Tetra Tech (NASDAQ:TTEK)

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