Global X Management Co. LLC grew its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 75.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,985 shares of the industrial products company’s stock after acquiring an additional 1,710 shares during the period. Global X Management Co. LLC’s holdings in Tetra Tech were worth $192,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also modified their holdings of TTEK. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Tetra Tech by 50.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,054 shares of the industrial products company’s stock valued at $147,000 after acquiring an additional 1,019 shares during the period. CAPROCK Group Inc. bought a new stake in shares of Tetra Tech during the 4th quarter valued at $200,000. CIBC Asset Management Inc bought a new stake in shares of Tetra Tech during the 4th quarter valued at $205,000. Fortaleza Asset Management Inc. bought a new stake in shares of Tetra Tech during the 4th quarter valued at $206,000. Finally, Parametrica Management Ltd bought a new stake in shares of Tetra Tech during the 4th quarter valued at $212,000. 82.60% of the stock is owned by hedge funds and other institutional investors.
TTEK has been the subject of a number of recent research reports. BidaskClub downgraded shares of Tetra Tech from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 9th. Zacks Investment Research raised shares of Tetra Tech from a “hold” rating to a “buy” rating and set a $59.00 price objective for the company in a research report on Friday, February 2nd. Boenning Scattergood reissued a “buy” rating and set a $54.00 price objective on shares of Tetra Tech in a research report on Thursday, November 9th. Canaccord Genuity reissued a “buy” rating and set a $60.00 price objective on shares of Tetra Tech in a research report on Thursday, February 1st. Finally, Robert W. Baird boosted their price objective on shares of Tetra Tech from $47.00 to $52.00 and gave the company a “neutral” rating in a research report on Friday, November 10th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $54.57.
In other Tetra Tech news, Chairman Dan L. Batrack sold 62,417 shares of the business’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $48.47, for a total value of $3,025,351.99. Following the sale, the chairman now owns 318,994 shares in the company, valued at approximately $15,461,639.18. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP William R. Brownlie sold 12,713 shares of the business’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $50.36, for a total transaction of $640,226.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 214,038 shares of company stock worth $10,459,852. 3.40% of the stock is owned by corporate insiders.
Tetra Tech, Inc. (NASDAQ:TTEK) opened at $50.25 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.25 and a current ratio of 2.25. Tetra Tech, Inc. has a one year low of $38.85 and a one year high of $53.40. The firm has a market cap of $2,810.00, a price-to-earnings ratio of 22.64, a P/E/G ratio of 1.44 and a beta of 1.02.
Tetra Tech (NASDAQ:TTEK) last released its earnings results on Wednesday, January 31st. The industrial products company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.12. Tetra Tech had a net margin of 4.83% and a return on equity of 14.26%. The company had revenue of $544.85 million for the quarter, compared to analysts’ expectations of $510.22 million. During the same quarter in the previous year, the company earned $0.49 EPS. Tetra Tech’s revenue for the quarter was up 11.3% on a year-over-year basis. research analysts expect that Tetra Tech, Inc. will post 2.55 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 2nd. Investors of record on Wednesday, February 14th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date of this dividend is Tuesday, February 13th. Tetra Tech’s dividend payout ratio (DPR) is 18.02%.
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Tetra Tech 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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