Systematic Financial Management LP reduced its position in Tetra Tech, Inc. (NASDAQ:TTEK) by 2.8% in the 4th quarter, HoldingsChannel reports. The fund owned 243,981 shares of the industrial products company’s stock after selling 7,092 shares during the period. Systematic Financial Management LP’s holdings in Tetra Tech were worth $11,748,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in TTEK. Goldman Sachs Group Inc. raised its holdings in shares of Tetra Tech by 67.4% in the second quarter. Goldman Sachs Group Inc. now owns 84,586 shares of the industrial products company’s stock valued at $3,870,000 after acquiring an additional 34,043 shares in the last quarter. State Street Corp raised its holdings in shares of Tetra Tech by 5.2% in the second quarter. State Street Corp now owns 1,502,537 shares of the industrial products company’s stock valued at $68,741,000 after acquiring an additional 74,476 shares in the last quarter. Rockefeller Financial Services Inc. raised its holdings in shares of Tetra Tech by 11.3% in the third quarter. Rockefeller Financial Services Inc. now owns 21,495 shares of the industrial products company’s stock valued at $1,001,000 after acquiring an additional 2,177 shares in the last quarter. Rathbone Brothers plc raised its holdings in shares of Tetra Tech by 3.2% in the third quarter. Rathbone Brothers plc now owns 33,395 shares of the industrial products company’s stock valued at $1,555,000 after acquiring an additional 1,050 shares in the last quarter. Finally, Crossmark Global Holdings Inc. bought a new stake in shares of Tetra Tech in the third quarter valued at about $774,000. Hedge funds and other institutional investors own 82.60% of the company’s stock.
In other news, SVP William R. Brownlie sold 12,713 shares of the business’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $50.36, for a total transaction of $640,226.68. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Brian N. Carter sold 12,694 shares of the business’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $49.94, for a total value of $633,938.36. Following the sale, the senior vice president now owns 23,737 shares in the company, valued at approximately $1,185,425.78. The disclosure for this sale can be found here. Insiders sold 206,428 shares of company stock worth $10,079,136 in the last quarter. 3.40% of the stock is owned by insiders.
Several analysts recently weighed in on the company. Zacks Investment Research downgraded Tetra Tech from a “hold” rating to a “sell” rating in a report on Thursday, January 11th. BidaskClub downgraded Tetra Tech from a “buy” rating to a “hold” rating in a report on Wednesday, January 10th. Canaccord Genuity restated a “buy” rating and issued a $60.00 price objective on shares of Tetra Tech in a report on Thursday, February 1st. Boenning Scattergood restated a “buy” rating and issued a $54.00 price objective on shares of Tetra Tech in a report on Thursday, November 9th. Finally, Robert W. Baird lifted their target price on Tetra Tech from $47.00 to $52.00 and gave the company a “neutral” rating in a research note on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $54.57.
Tetra Tech, Inc. (TTEK) opened at $49.60 on Thursday. Tetra Tech, Inc. has a 52 week low of $38.85 and a 52 week high of $53.40. The company has a quick ratio of 2.25, a current ratio of 2.25 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $2,728.31, a PE ratio of 20.75, a price-to-earnings-growth ratio of 1.42 and a beta of 1.02.
Tetra Tech (NASDAQ:TTEK) last posted its earnings results on Wednesday, January 31st. The industrial products company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.12. Tetra Tech had a return on equity of 14.26% and a net margin of 4.83%. The company had revenue of $544.85 million for the quarter, compared to analyst estimates of $510.22 million. During the same quarter in the previous year, the firm earned $0.49 earnings per share. The firm’s quarterly revenue was up 11.3% compared to the same quarter last year. equities research analysts expect that Tetra Tech, Inc. will post 2.55 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 2nd. Shareholders of record on Wednesday, February 14th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, February 13th. This represents a $0.40 annualized dividend and a yield of 0.81%. Tetra Tech’s dividend payout ratio (DPR) is presently 16.74%.
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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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