Tetra Tech, Inc. (TTEK) Shares Sold by SFE Investment Counsel
SFE Investment Counsel lowered its position in Tetra Tech, Inc. (NASDAQ:TTEK) by 6.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,046 shares of the industrial products company’s stock after selling 2,280 shares during the period. SFE Investment Counsel’s holdings in Tetra Tech were worth $1,420,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of the company. BlackRock Inc. increased its stake in Tetra Tech by 12,066.6% in the first quarter. BlackRock Inc. now owns 8,135,829 shares of the industrial products company’s stock worth $332,349,000 after buying an additional 8,068,959 shares in the last quarter. Vanguard Group Inc. increased its stake in Tetra Tech by 6.2% in the first quarter. Vanguard Group Inc. now owns 5,212,870 shares of the industrial products company’s stock worth $212,946,000 after buying an additional 302,821 shares in the last quarter. State Street Corp increased its stake in Tetra Tech by 6.8% in the first quarter. State Street Corp now owns 1,428,061 shares of the industrial products company’s stock worth $58,339,000 after buying an additional 90,381 shares in the last quarter. RidgeWorth Capital Management LLC increased its stake in Tetra Tech by 32.5% in the first quarter. RidgeWorth Capital Management LLC now owns 1,398,176 shares of the industrial products company’s stock worth $57,115,000 after buying an additional 343,222 shares in the last quarter. Finally, Rice Hall James & Associates LLC increased its stake in Tetra Tech by 12.0% in the second quarter. Rice Hall James & Associates LLC now owns 1,256,181 shares of the industrial products company’s stock worth $57,470,000 after buying an additional 134,770 shares in the last quarter. 85.33% of the stock is owned by institutional investors.
Shares of Tetra Tech, Inc. (NASDAQ TTEK) opened at 41.70 on Tuesday. The company has a market capitalization of $2.36 billion, a P/E ratio of 21.14 and a beta of 1.03. The firm has a 50-day moving average of $45.38 and a 200 day moving average of $43.56. Tetra Tech, Inc. has a 1-year low of $33.55 and a 1-year high of $48.35.
Tetra Tech (NASDAQ:TTEK) last released its earnings results on Wednesday, August 2nd. The industrial products company reported $0.53 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by $0.01. The firm had revenue of $498.47 million during the quarter, compared to the consensus estimate of $535.18 million. Tetra Tech had a return on equity of 13.65% and a net margin of 4.17%. Tetra Tech’s revenue was up .0% compared to the same quarter last year. During the same quarter last year, the business posted $0.50 EPS. On average, analysts anticipate that Tetra Tech, Inc. will post $2.11 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Thursday, August 17th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, August 15th. This represents a $0.40 annualized dividend and a dividend yield of 0.96%. Tetra Tech’s dividend payout ratio (DPR) is presently 20.30%.
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A number of analysts have recently issued reports on TTEK shares. Stifel Nicolaus reaffirmed a “hold” rating and set a $50.00 price objective on shares of Tetra Tech in a report on Friday, July 7th. Zacks Investment Research raised shares of Tetra Tech from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a research note on Tuesday, July 4th. Canaccord Genuity reissued a “buy” rating and issued a $52.00 price target on shares of Tetra Tech in a research note on Friday, August 4th. BidaskClub downgraded shares of Tetra Tech from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 21st. Finally, Roth Capital set a $52.00 price target on shares of Tetra Tech and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $49.75.
In other news, CFO Steven M. Burdick sold 16,750 shares of the firm’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $44.87, for a total value of $751,572.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 4.00% of the stock is currently 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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