Trillium Asset Management LLC Acquires New Position in Tetra Tech, Inc. (TTEK)
Trillium Asset Management LLC acquired a new position in shares of Tetra Tech, Inc. (NASDAQ:TTEK) during the second quarter, Holdings Channel reports. The fund acquired 23,804 shares of the industrial products company’s stock, valued at approximately $1,089,000.
A number of other large investors have also modified their holdings of the stock. Pitcairn Co. acquired a new stake in shares of Tetra Tech during the second quarter worth approximately $349,000. Teacher Retirement System of Texas acquired a new stake in shares of Tetra Tech during the second quarter worth approximately $210,000. Rice Hall James & Associates LLC boosted its stake in shares of 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 during the last quarter. First Trust Advisors LP boosted its stake in shares of Tetra Tech by 21.4% in the second quarter. First Trust Advisors LP now owns 207,974 shares of the industrial products company’s stock worth $9,515,000 after buying an additional 36,684 shares during the last quarter. Finally, Boston Partners boosted its stake in shares of Tetra Tech by 2.2% in the second quarter. Boston Partners now owns 1,010,774 shares of the industrial products company’s stock worth $46,243,000 after buying an additional 21,989 shares during the last quarter. 85.33% of the stock is currently owned by hedge funds and other institutional investors.
Tetra Tech, Inc. (NASDAQ:TTEK) opened at 41.30 on Wednesday. The stock has a market capitalization of $2.34 billion, a price-to-earnings ratio of 20.93 and a beta of 1.03. The firm has a 50-day moving average of $45.24 and a 200-day moving average of $43.54. Tetra Tech, Inc. has a 12-month low of $33.55 and a 12-month high of $48.35.
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 Zacks’ consensus estimate of $0.54 by $0.01. The company had revenue of $498.47 million during the quarter, compared to analysts’ expectations of $535.18 million. Tetra Tech had a return on equity of 13.65% and a net margin of 4.17%. The company’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.50 EPS. Equities research analysts forecast that Tetra Tech, Inc. will post $2.11 earnings per share for the current fiscal 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 paid a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, August 15th. This represents a $0.40 dividend on an annualized basis and a yield of 0.97%. Tetra Tech’s dividend payout ratio is currently 20.30%.
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A number of equities research analysts recently commented on the stock. Canaccord Genuity reissued a “buy” rating and issued a $52.00 price objective on shares of Tetra Tech in a research note on Friday, August 4th. BidaskClub cut shares of Tetra Tech from a “buy” rating to a “hold” rating in a research note on Saturday, August 5th. Roth Capital set a $52.00 price objective on shares of Tetra Tech and gave the company a “buy” rating in a research note on Wednesday, August 2nd. Zacks Investment Research cut shares of Tetra Tech from a “buy” rating to a “hold” rating in a research note on Monday, July 10th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $50.00 price objective on shares of Tetra Tech in a research note on Friday, July 7th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Tetra Tech has an average rating of “Hold” and a consensus target price of $49.75.
In related news, CFO Steven M. Burdick sold 16,750 shares of Tetra Tech stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $44.87, for a total value of $751,572.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 4.00% of the company’s stock.
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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