Pitcairn Co. acquired a new stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 7,647 shares of the industrial products company’s stock, valued at approximately $349,000.

Other hedge funds have also made changes to their positions in the company. Teachers Advisors LLC boosted its stake in shares of Tetra Tech by 2.3% in the fourth quarter. Teachers Advisors LLC now owns 105,706 shares of the industrial products company’s stock valued at $4,561,000 after buying an additional 2,399 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of Tetra Tech by 27.7% in the first quarter. Bank of Montreal Can now owns 9,502 shares of the industrial products company’s stock valued at $389,000 after buying an additional 2,063 shares during the last quarter. First National Bank of Omaha boosted its stake in shares of Tetra Tech by 30.8% in the first quarter. First National Bank of Omaha now owns 28,776 shares of the industrial products company’s stock valued at $1,175,000 after buying an additional 6,775 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of Tetra Tech by 1.7% in the first quarter. Louisiana State Employees Retirement System now owns 23,300 shares of the industrial products company’s stock valued at $952,000 after buying an additional 400 shares during the last quarter. Finally, Legato Capital Management LLC boosted its stake in shares of Tetra Tech by 3,985.0% in the first quarter. Legato Capital Management LLC now owns 68,015 shares of the industrial products company’s stock valued at $1,665,000 after buying an additional 66,350 shares during the last quarter. Institutional investors and hedge funds own 85.33% of the company’s stock.

Tetra Tech, Inc. (NASDAQ TTEK) opened at 41.30 on Wednesday. Tetra Tech, Inc. has a 1-year low of $33.55 and a 1-year high of $48.35. The firm has a market capitalization of $2.34 billion, a PE ratio of 20.93 and a beta of 1.03. The company has a 50 day moving average of $45.24 and a 200 day moving average of $43.54.

Tetra Tech (NASDAQ:TTEK) last issued its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.53 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by $0.01. Tetra Tech had a return on equity of 13.65% and a net margin of 4.17%. The company had revenue of $498.47 million for the quarter, compared to analyst estimates of $535.18 million. During the same period in the prior year, the business earned $0.50 earnings per share. Tetra Tech’s revenue for the quarter was up .0% compared to the same quarter last year. Analysts forecast that Tetra Tech, Inc. will post $2.11 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Thursday, August 17th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend is Tuesday, August 15th. Tetra Tech’s dividend payout ratio is presently 20.30%.

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Several analysts have commented on TTEK shares. Sidoti restated a “buy” rating and set a $58.00 price objective (up from $55.00) on shares of Tetra Tech in a research note on Sunday, May 14th. Canaccord Genuity restated a “buy” rating and set a $52.00 price objective on shares of Tetra Tech in a research note on Wednesday, June 7th. BidaskClub cut shares of Tetra Tech from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 21st. Zacks Investment Research upgraded shares of Tetra Tech from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a research note on Tuesday, July 4th. Finally, Stifel Nicolaus restated a “hold” rating and set a $50.00 price objective on shares of Tetra Tech in a research note on Friday, July 7th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Tetra Tech has a consensus rating of “Hold” and an average price target of $49.75.

In related news, CFO Steven M. Burdick sold 16,750 shares of the stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $44.87, for a total transaction of $751,572.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 4.00% of the stock is owned by company 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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Institutional Ownership by Quarter for Tetra Tech (NASDAQ:TTEK)

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