Insider Selling: Tetra Tech, Inc. (NASDAQ:TTEK) CEO Sells 17,924 Shares of Stock

Tetra Tech, Inc. (NASDAQ:TTEK) CEO Dan L. Batrack sold 17,924 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $227.72, for a total transaction of $4,081,653.28. Following the transaction, the chief executive officer now owns 24,877 shares of the company’s stock, valued at approximately $5,664,990.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Tetra Tech Price Performance

Shares of TTEK traded up $3.11 during trading hours on Thursday, reaching $231.76. 251,753 shares of the company traded hands, compared to its average volume of 285,969. The company has a quick ratio of 1.24, a current ratio of 1.21 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $12.41 billion, a PE ratio of 46.91 and a beta of 0.93. Tetra Tech, Inc. has a fifty-two week low of $143.35 and a fifty-two week high of $234.94. The stock has a fifty day simple moving average of $209.51 and a 200 day simple moving average of $195.53.

Tetra Tech shares are scheduled to split on the morning of Monday, September 9th. The 5-1 split was announced on Wednesday, July 31st. The newly minted shares will be distributed to shareholders after the closing bell on Friday, September 6th.

Tetra Tech (NASDAQ:TTEK) last released its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $1.59 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.05. The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.08 billion. Tetra Tech had a return on equity of 21.50% and a net margin of 5.72%. The company’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period last year, the business posted $1.29 EPS. As a group, research analysts predict that Tetra Tech, Inc. will post 6.24 EPS for the current fiscal year.

Tetra Tech Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Thursday, August 15th will be given a $0.29 dividend. The ex-dividend date is Thursday, August 15th. This represents a $1.16 annualized dividend and a dividend yield of 0.50%. Tetra Tech’s payout ratio is 23.48%.

Analyst Ratings Changes

Several brokerages have recently weighed in on TTEK. Royal Bank of Canada increased their target price on shares of Tetra Tech from $233.00 to $259.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. KeyCorp raised their price target on shares of Tetra Tech from $234.00 to $247.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. StockNews.com raised shares of Tetra Tech from a “hold” rating to a “buy” rating in a report on Monday. Maxim Group lifted their target price on shares of Tetra Tech from $234.00 to $268.00 and gave the stock a “buy” rating in a research note on Thursday, May 16th. Finally, Robert W. Baird lifted their price target on Tetra Tech from $223.00 to $230.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Tetra Tech currently has a consensus rating of “Moderate Buy” and a consensus price target of $245.80.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in TTEK. Nisa Investment Advisors LLC boosted its position in Tetra Tech by 1.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 26,540 shares of the industrial products company’s stock worth $4,430,000 after acquiring an additional 400 shares during the period. Sequoia Financial Advisors LLC purchased a new stake in Tetra Tech in the 4th quarter worth about $873,000. Koshinski Asset Management Inc. purchased a new stake in Tetra Tech in the 4th quarter worth about $211,000. Simplicity Solutions LLC increased its position in Tetra Tech by 3.1% in the 4th quarter. Simplicity Solutions LLC now owns 23,337 shares of the industrial products company’s stock worth $3,896,000 after purchasing an additional 710 shares during the last quarter. Finally, WCM Investment Management LLC increased its holdings in shares of Tetra Tech by 2.5% during the 4th quarter. WCM Investment Management LLC now owns 339,938 shares of the industrial products company’s stock valued at $57,127,000 after acquiring an additional 8,394 shares during the last quarter. Institutional investors and hedge funds own 93.89% of the company’s stock.

About Tetra Tech

Tetra Tech, Inc provides consulting and engineering services in the United States and internationally. The company operates through two segments, Government Services Group (GSG) and Commercial/International Services Group (CIG). The GSG segment offers early data collection and monitoring, data analysis and information management, science and engineering applied research, engineering design, project management, and operations and maintenance services; and climate change and energy management consulting, as well as greenhouse gas inventory assessment, certification, reduction, and management services.