Richard Bernstein Advisors LLC held its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 105,154 shares of the industrial products company’s stock at the end of the first quarter. Richard Bernstein Advisors LLC’s holdings in Tetra Tech were worth $4,296,000 as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in the company. Tyers Asset Management LLC acquired a new stake in shares of Tetra Tech during the fourth quarter worth $146,000. Flinton Capital Management LLC acquired a new stake in shares of Tetra Tech during the fourth quarter worth $178,000. Intellectus Partners LLC acquired a new stake in shares of Tetra Tech during the fourth quarter worth $181,000. LS Investment Advisors LLC boosted its stake in shares of Tetra Tech by 117.6% in the first quarter. LS Investment Advisors LLC now owns 4,872 shares of the industrial products company’s stock worth $199,000 after buying an additional 2,633 shares during the period. Finally, Covington Capital Management acquired a new stake in shares of Tetra Tech during the third quarter worth $207,000. Institutional investors and hedge funds own 86.14% of the company’s stock.
Shares of Tetra Tech, Inc. (NASDAQ:TTEK) traded up 1.11% during midday trading on Wednesday, reaching $45.50. 62,573 shares of the company traded hands. The company has a market capitalization of $2.60 billion, a PE ratio of 24.01 and a beta of 1.11. The company has a 50 day moving average price of $43.49 and a 200 day moving average price of $42.24. Tetra Tech, Inc. has a 1-year low of $28.01 and a 1-year high of $46.92.
Tetra Tech (NASDAQ:TTEK) last released its earnings results on Wednesday, May 3rd. The industrial products company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.02. The company had revenue of $511.95 million for the quarter, compared to the consensus estimate of $491.60 million. Tetra Tech had a net margin of 3.24% and a return on equity of 13.28%. Tetra Tech’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.37 EPS. On average, analysts expect that Tetra Tech, Inc. will post $2.22 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 2nd. Shareholders of record on Thursday, May 18th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend is Tuesday, May 16th. This is an increase from Tetra Tech’s previous quarterly dividend of $0.09. Tetra Tech’s payout ratio is currently 24.16%.
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A number of brokerages have weighed in on TTEK. Zacks Investment Research cut shares of Tetra Tech from a “buy” rating to a “hold” rating in a report on Monday, February 27th. Sidoti restated a “buy” rating and issued a $58.00 price objective (up previously from $55.00) on shares of Tetra Tech in a report on Sunday, May 14th. Canaccord Genuity restated a “buy” rating and issued a $50.00 price objective on shares of Tetra Tech in a report on Thursday, March 23rd. Roth Capital started coverage on shares of Tetra Tech in a report on Wednesday, January 25th. They set a “buy” rating and a $49.00 price target on the stock. Finally, Stifel Nicolaus increased their price target on shares of Tetra Tech to $45.00 and gave the company a “hold” rating in a report on Monday, February 6th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $46.56.
In other news, SVP Brian N. Carter sold 3,396 shares of the company’s stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $46.20, for a total value of $156,895.20. Following the sale, the senior vice president now directly owns 7,243 shares of the company’s stock, valued at approximately $334,626.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Dan L. Batrack sold 1,117 shares of the company’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $45.00, for a total transaction of $50,265.00. Following the completion of the sale, the chief executive officer now directly owns 214,128 shares in the company, valued at $9,635,760. The disclosure for this sale can be found here. In the last three months, insiders have sold 345,714 shares of company stock worth $15,776,606. 4.00% of the stock is owned by insiders.
About Tetra Tech
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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