Koch Industries Inc. Acquires New Holdings in Tetra Tech, Inc. (TTEK)

Koch Industries Inc. bought a new stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 5,788 shares of the industrial products company’s stock, valued at approximately $279,000.

Several other large investors have also bought and sold shares of TTEK. Assenagon Asset Management S.A. bought a new stake in shares of Tetra Tech during the 4th quarter valued at about $8,213,000. Amundi Pioneer Asset Management Inc. acquired a new position in Tetra Tech during the 4th quarter valued at about $7,546,000. Allianz Asset Management GmbH boosted its stake in Tetra Tech by 35.5% during the 3rd quarter. Allianz Asset Management GmbH now owns 582,449 shares of the industrial products company’s stock valued at $27,113,000 after purchasing an additional 152,695 shares during the period. Wells Fargo & Company MN boosted its stake in Tetra Tech by 76.4% during the 3rd quarter. Wells Fargo & Company MN now owns 318,483 shares of the industrial products company’s stock valued at $14,825,000 after purchasing an additional 137,887 shares during the period. Finally, Asset Management One Co. Ltd. acquired a new stake in shares of Tetra Tech in the 3rd quarter worth approximately $6,270,000. Institutional investors and hedge funds own 87.27% of the company’s stock.

Shares of TTEK stock traded down $1.05 during mid-day trading on Friday, reaching $49.15. The company’s stock had a trading volume of 170,907 shares, compared to its average volume of 253,749. The stock has a market cap of $2,770.20, a price-to-earnings ratio of 23.08, a P/E/G ratio of 1.48 and a beta of 0.97. 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 1-year low of $39.95 and a 1-year high of $53.40.

Tetra Tech (NASDAQ:TTEK) last announced its earnings results on Wednesday, January 31st. The industrial products company reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.12. The business had revenue of $544.85 million during the quarter, compared to analysts’ expectations 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 for the quarter was up 11.3% on a year-over-year basis. During the same quarter last year, the company posted $0.49 EPS. sell-side analysts predict that Tetra Tech, Inc. will post 2.49 earnings per share for the current year.

In related news, Chairman Dan L. Batrack sold 68,270 shares of Tetra Tech stock in a transaction that occurred on Wednesday, March 14th. The shares were sold at an average price of $51.62, for a total transaction of $3,524,097.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director J Christopher Lewis sold 8,000 shares of Tetra Tech stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $49.91, for a total transaction of $399,280.00. Following the transaction, the director now directly owns 56,389 shares in the company, valued at approximately $2,814,374.99. The disclosure for this sale can be found here. Insiders sold a total of 164,331 shares of company stock valued at $8,343,340 in the last 90 days. Corporate insiders own 3.40% of the company’s stock.

TTEK has been the subject of a number of research analyst reports. BidaskClub lowered shares of Tetra Tech from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 9th. ValuEngine lowered shares of Tetra Tech from a “buy” rating to a “hold” rating in a report on Wednesday, December 20th. Zacks Investment Research lowered shares of Tetra Tech from a “hold” rating to a “sell” rating in a report on Thursday, January 11th. Canaccord Genuity reiterated a “buy” rating and issued a $60.00 price objective on shares of Tetra Tech in a research note on Thursday, February 1st. Finally, Boenning Scattergood reiterated a “buy” rating and issued a $65.00 price objective on shares of Tetra Tech in a research note on Thursday, March 15th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Tetra Tech presently has an average rating of “Buy” and an average target price of $57.00.

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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.

Institutional Ownership by Quarter for Tetra Tech (NASDAQ:TTEK)

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