Leith Wheeler Investment Counsel Ltd. lifted its position in Tetra Tech, Inc. (NASDAQ:TTEK) by 30.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,572 shares of the industrial products company’s stock after acquiring an additional 7,190 shares during the quarter. Tetra Tech accounts for approximately 0.5% of Leith Wheeler Investment Counsel Ltd.’s holdings, making the stock its 23rd largest position. Leith Wheeler Investment Counsel Ltd. owned 0.05% of Tetra Tech worth $1,275,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. raised its stake in Tetra Tech by 12,066.6% during the 1st quarter. BlackRock Inc. now owns 8,135,829 shares of the industrial products company’s stock valued at $332,349,000 after acquiring an additional 8,068,959 shares in the last quarter. Chicago Equity Partners LLC bought a new stake in Tetra Tech during the 2nd quarter valued at $1,003,000. Capital Fund Management S.A. bought a new stake in Tetra Tech during the 2nd quarter valued at $581,000. State Street Corp raised its stake in Tetra Tech by 6.8% during the 1st quarter. State Street Corp now owns 1,428,061 shares of the industrial products company’s stock valued at $58,339,000 after acquiring an additional 90,381 shares in the last quarter. Finally, Koch Industries Inc. bought a new stake in shares of Tetra Tech in the 2nd quarter worth $506,000. Institutional investors own 84.79% of the company’s stock.
TTEK has been the topic of a number of research reports. Zacks Investment Research raised Tetra Tech from a “hold” rating to a “buy” rating and set a $51.00 price objective on the stock in a research note on Tuesday, July 4th. Roth Capital set a $52.00 target price on Tetra Tech and gave the stock a “buy” rating in a report on Wednesday, August 2nd. Canaccord Genuity reiterated a “buy” rating and set a $52.00 price target on shares of Tetra Tech in a report on Friday, August 4th. BidaskClub downgraded Tetra Tech from a “buy” rating to a “hold” rating in a report on Saturday, August 5th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $50.00 price target on shares of Tetra Tech in a report on Friday, July 7th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $48.86.
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Tetra Tech, Inc. (TTEK) traded up 0.10% during trading on Friday, hitting $49.90. The company had a trading volume of 65,289 shares. The stock has a 50-day moving average of $46.10 and a 200-day moving average of $44.88. Tetra Tech, Inc. has a one year low of $36.96 and a one year high of $50.00. The stock has a market capitalization of $2.82 billion, a PE ratio of 25.29 and a beta of 1.07.
Tetra Tech (NASDAQ:TTEK) last announced its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.53 EPS for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.01). The business had revenue of $498.47 million for the quarter, compared to analysts’ expectations of $535.18 million. Tetra Tech had a net margin of 4.17% and a return on equity of 13.65%. The business’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 earnings per share. On average, equities analysts anticipate that Tetra Tech, Inc. will post $2.11 EPS for the current year.
In other news, insider Ronald J. Chu sold 14,112 shares of the firm’s stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $50.00, for a total transaction of $705,600.00. Following the sale, the insider now owns 51,216 shares in the company, valued at approximately $2,560,800. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 3.80% 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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