Invictus RG Buys Shares of 4,758 Tetra Tech, Inc. (TTEK)
Invictus RG bought a new stake in Tetra Tech, Inc. (NASDAQ:TTEK) during the third quarter, HoldingsChannel reports. The fund bought 4,758 shares of the industrial products company’s stock, valued at approximately $325,000.
Other hedge funds have also recently modified their holdings of the company. Steward Partners Investment Advisory LLC raised its holdings in Tetra Tech by 303.8% in the 3rd quarter. Steward Partners Investment Advisory LLC now owns 1,615 shares of the industrial products company’s stock valued at $110,000 after acquiring an additional 1,215 shares during the period. Tower Research Capital LLC TRC raised its holdings in Tetra Tech by 4,747.1% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,648 shares of the industrial products company’s stock valued at $113,000 after acquiring an additional 1,614 shares during the period. Smithfield Trust Co. raised its holdings in Tetra Tech by 70.1% in the 3rd quarter. Smithfield Trust Co. now owns 2,280 shares of the industrial products company’s stock valued at $156,000 after acquiring an additional 940 shares during the period. Tocqueville Asset Management L.P. bought a new position in Tetra Tech in the 2nd quarter valued at about $205,000. Finally, M Holdings Securities Inc. bought a new position in Tetra Tech in the 2nd quarter valued at about $222,000. 84.55% of the stock is currently owned by institutional investors.
In related news, SVP Brian N. Carter sold 8,215 shares of the stock in a transaction that occurred on Monday, November 26th. The shares were sold at an average price of $62.28, for a total transaction of $511,630.20. Following the sale, the senior vice president now owns 7,430 shares in the company, valued at approximately $462,740.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kirsten M. Volpi sold 1,200 shares of the stock in a transaction that occurred on Wednesday, November 14th. The stock was sold at an average price of $66.94, for a total transaction of $80,328.00. Following the sale, the director now owns 8,801 shares in the company, valued at approximately $589,138.94. The disclosure for this sale can be found here. Insiders have sold a total of 61,034 shares of company stock worth $3,958,744 in the last quarter. 3.40% of the stock is currently owned by company insiders.
Tetra Tech (NASDAQ:TTEK) last posted its quarterly earnings results on Wednesday, November 7th. The industrial products company reported $0.75 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.01. The business had revenue of $563.67 million for the quarter, compared to analyst estimates of $571.33 million. Tetra Tech had a net margin of 4.62% and a return on equity of 15.80%. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter last year, the business posted $0.63 EPS. Equities analysts expect that Tetra Tech, Inc. will post 2.87 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 30th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $0.48 annualized dividend and a dividend yield of 0.86%. Tetra Tech’s dividend payout ratio is 18.18%.
Several research firms have weighed in on TTEK. BidaskClub raised shares of Tetra Tech from a “hold” rating to a “buy” rating in a report on Thursday, November 8th. Robert W. Baird increased their target price on shares of Tetra Tech from $63.00 to $70.00 and gave the stock a “hold” rating in a research report on Thursday, November 8th. Maxim Group set a $87.00 target price on shares of Tetra Tech and gave the stock a “buy” rating in a research report on Thursday, November 8th. Finally, Zacks Investment Research restated a “hold” rating on shares of Tetra Tech in a research report on Saturday, November 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $72.86.
About Tetra Tech
Tetra Tech, Inc provides consulting and engineering services worldwide. It operates through two segments, Water, Environment and Infrastructure (WEI); and Resource Management and Energy (RME). The WEI segment offers early data collection and monitoring, data analysis and information technology, science and engineering applied research, engineering design, construction 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.
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