HighTower Advisors LLC boosted its position in Tetra Tech, Inc. (NASDAQ:TTEK) by 907.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 52,796 shares of the industrial products company’s stock after buying an additional 47,555 shares during the period. HighTower Advisors LLC’s holdings in Tetra Tech were worth $2,125,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of TTEK. BlackRock Inc. increased its position in shares of 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 during the last quarter. Norges Bank bought a new position in Tetra Tech during the fourth quarter valued at approximately $83,979,000. KAMES CAPITAL plc increased its position in Tetra Tech by 1,862.0% in the first quarter. KAMES CAPITAL plc now owns 1,049,075 shares of the industrial products company’s stock valued at $42,855,000 after buying an additional 995,604 shares in the last quarter. RidgeWorth Capital Management LLC increased its position 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 valued at $57,115,000 after buying an additional 343,222 shares in the last quarter. Finally, Vanguard Group Inc. increased its position 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 valued at $212,946,000 after buying an additional 302,821 shares in the last quarter. Institutional investors and hedge funds own 84.75% of the company’s stock.
Tetra Tech, Inc. (TTEK) traded up 0.66% during trading on Wednesday, hitting $46.05. 46,379 shares of the company traded hands. The stock has a 50 day moving average price of $45.70 and a 200 day moving average price of $42.89. Tetra Tech, Inc. has a 12-month low of $29.12 and a 12-month high of $47.75. The company has a market capitalization of $2.63 billion, a P/E ratio of 24.30 and a beta of 1.02.
Tetra Tech (NASDAQ:TTEK) last released its earnings results on Wednesday, May 3rd. The industrial products company reported $0.48 EPS for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.02. The company had revenue of $511.95 million for the quarter, compared to analysts’ expectations of $491.60 million. Tetra Tech had a return on equity of 13.70% and a net margin of 4.04%. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.37 EPS. On average, equities analysts anticipate that Tetra Tech, Inc. will post $2.22 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 2nd. Stockholders of record on Thursday, May 18th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.87%. This is a boost from Tetra Tech’s previous quarterly dividend of $0.09. The ex-dividend date was Tuesday, May 16th. Tetra Tech’s payout ratio is presently 21.16%.
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Several equities analysts have commented on TTEK shares. Zacks Investment Research upgraded shares of Tetra Tech from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a report on Tuesday, February 28th. BidaskClub downgraded shares of Tetra Tech from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 21st. Canaccord Genuity reiterated a “buy” rating and issued a $52.00 price objective on shares of Tetra Tech in a report on Wednesday, June 7th. Finally, Sidoti reiterated a “buy” rating and issued a $58.00 price objective (up from $55.00) on shares of Tetra Tech in a report on Sunday, May 14th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $46.78.
In other news, CFO Steven M. Burdick sold 16,750 shares of Tetra Tech 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Brian N. Carter sold 3,396 shares of Tetra Tech stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $46.20, for a total value of $156,895.20. Following the sale, the senior vice president now owns 7,243 shares in the company, valued at $334,626.60. The disclosure for this sale can be found here. Insiders have sold a total of 362,464 shares of company stock worth $16,528,179 over the last quarter. 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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