Wells Fargo & Company MN raised its holdings in Tetra Tech, Inc. (NASDAQ:TTEK) by 12.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 357,520 shares of the industrial products company’s stock after purchasing an additional 39,037 shares during the period. Wells Fargo & Company MN’s holdings in Tetra Tech were worth $17,214,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings 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 worth $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 worth approximately $200,000. CIBC Asset Management Inc bought a new stake in shares of Tetra Tech during the 4th quarter worth approximately $205,000. Fortaleza Asset Management Inc. bought a new stake in shares of Tetra Tech during the 4th quarter worth approximately $206,000. Finally, Parametrica Management Ltd bought a new stake in shares of Tetra Tech during the 4th quarter worth approximately $212,000. 87.25% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have recently weighed in on TTEK. Zacks Investment Research downgraded shares of Tetra Tech from a “hold” rating to a “sell” rating in a report on Thursday, January 11th. BidaskClub downgraded shares of Tetra Tech from a “buy” rating to a “hold” rating in a report on Wednesday, January 10th. Canaccord Genuity reaffirmed a “buy” rating and set a $60.00 price target on shares of Tetra Tech in a report on Thursday, February 1st. Finally, ValuEngine raised shares of Tetra Tech from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $54.57.
Tetra Tech, Inc. (NASDAQ:TTEK) opened at $51.80 on Tuesday. The company has a market cap of $2,923.79, a P/E ratio of 22.86, a P/E/G ratio of 1.54 and a beta of 1.00. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.25 and a quick ratio of 2.25. Tetra Tech, Inc. has a 52 week low of $38.85 and a 52 week high of $53.40.
Tetra Tech (NASDAQ:TTEK) last issued its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $0.65 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.12. The business had revenue of $544.85 million during the quarter, compared to the consensus estimate of $510.22 million. Tetra Tech had a net margin of 4.83% and a return on equity of 14.26%. The firm’s revenue was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.49 EPS. equities analysts expect that Tetra Tech, Inc. will post 2.51 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 2nd. Investors of record on Wednesday, February 14th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.77%. The ex-dividend date was Tuesday, February 13th. Tetra Tech’s payout ratio is 16.74%.
In related news, CEO Dan L. Batrack sold 10,874 shares of the stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $48.34, for a total value of $525,649.16. Following the completion of the transaction, the chief executive officer now owns 286,551 shares of the company’s stock, valued at approximately $13,851,875.34. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP William R. Brownlie sold 4,037 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $46.16, for a total transaction of $186,347.92. Following the completion of the transaction, the senior vice president now directly owns 82,226 shares of the company’s stock, valued at approximately $3,795,552.16. The disclosure for this sale can be found here. In the last three months, insiders sold 73,435 shares of company stock valued at $3,627,631. 3.40% of the stock is owned by insiders.
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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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