Tetra Tech, Inc. (TTEK) Shares Bought by Allianz Asset Management GmbH
Allianz Asset Management GmbH grew its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 35.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 582,449 shares of the industrial products company’s stock after buying an additional 152,695 shares during the period. Allianz Asset Management GmbH owned 1.04% of Tetra Tech worth $27,113,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in Tetra Tech by 0.5% in the second quarter. Vanguard Group Inc. now owns 5,236,842 shares of the industrial products company’s stock worth $239,585,000 after purchasing an additional 23,972 shares during the period. State Street Corp grew its stake in Tetra Tech by 5.2% in the second quarter. State Street Corp now owns 1,502,537 shares of the industrial products company’s stock worth $68,741,000 after purchasing an additional 74,476 shares during the period. Northern Trust Corp grew its stake in Tetra Tech by 2.2% in the second quarter. Northern Trust Corp now owns 1,075,476 shares of the industrial products company’s stock worth $49,203,000 after purchasing an additional 23,510 shares during the period. Boston Partners grew its stake in Tetra Tech by 2.2% in the third quarter. Boston Partners now owns 1,033,492 shares of the industrial products company’s stock worth $48,109,000 after purchasing an additional 22,718 shares during the period. Finally, Alliancebernstein L.P. grew its stake in Tetra Tech by 16.0% in the second quarter. Alliancebernstein L.P. now owns 781,764 shares of the industrial products company’s stock worth $35,766,000 after purchasing an additional 107,602 shares during the period. 84.78% of the stock is currently owned by hedge funds and other institutional investors.
TTEK has been the topic of several recent research reports. Boenning Scattergood reaffirmed an “outperform” rating on shares of Tetra Tech in a research note on Tuesday, September 5th. Robert W. Baird reaffirmed a “hold” rating and issued a $47.00 price target on shares of Tetra Tech in a research note on Tuesday, September 5th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $47.00 price target on shares of Tetra Tech in a research note on Thursday, September 7th. Zacks Investment Research raised Tetra Tech from a “sell” rating to a “hold” rating in a research note on Friday, October 6th. Finally, BidaskClub cut Tetra Tech from a “strong-buy” rating to a “buy” rating in a research note on Saturday. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. Tetra Tech presently has an average rating of “Buy” and a consensus price target of $52.29.
Tetra Tech (NASDAQ:TTEK) last released its earnings results on Wednesday, November 8th. The industrial products company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. Tetra Tech had a return on equity of 13.60% and a net margin of 4.28%. The firm had revenue of $533.00 million for the quarter, compared to analysts’ expectations of $517.90 million. During the same period in the prior year, the firm posted $0.59 earnings per share. The company’s quarterly revenue was up .4% on a year-over-year basis. equities research analysts anticipate that Tetra Tech, Inc. will post 2.32 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend is Wednesday, November 29th. Tetra Tech’s payout ratio is currently 19.61%.
In other news, EVP Ronald J. Chu sold 42,395 shares of the company’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $50.00, for a total transaction of $2,119,750.00. Following the transaction, the executive vice president now directly owns 58,624 shares of the company’s stock, valued at $2,931,200. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Ronald J. Chu sold 14,112 shares of the company’s stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $50.00, for a total value of $705,600.00. Following the transaction, the insider now directly owns 51,216 shares in the company, valued at $2,560,800. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 115,411 shares of company stock worth $5,727,537. Corporate insiders own 3.80% of the company’s stock.
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Tetra Tech 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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