Emerald Acquisition Ltd. purchased a new stake in shares of Tetra Tech Inc. (NASDAQ:TTEK) during the second quarter, Holdings Channel reports. The firm purchased 133,964 shares of the company’s stock, valued at approximately $4,115,000. Emerald Acquisition Ltd. owned 0.23% of Tetra Tech at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of TTEK. Norges Bank acquired a new stake in Tetra Tech during the fourth quarter valued at about $56,782,000. OLD National Bancorp IN raised its stake in Tetra Tech by 1.0% in the first quarter. OLD National Bancorp IN now owns 23,617 shares of the company’s stock valued at $704,000 after buying an additional 225 shares during the period. Aperio Group LLC raised its stake in Tetra Tech by 24.0% in the first quarter. Aperio Group LLC now owns 24,384 shares of the company’s stock valued at $727,000 after buying an additional 4,715 shares during the period. Ngam Advisors L.P. raised its stake in Tetra Tech by 5.8% in the first quarter. Ngam Advisors L.P. now owns 37,082 shares of the company’s stock valued at $1,106,000 after buying an additional 2,049 shares during the period. Finally, Prudential Financial Inc. raised its stake in Tetra Tech by 4.3% in the first quarter. Prudential Financial Inc. now owns 143,140 shares of the company’s stock valued at $4,268,000 after buying an additional 5,900 shares during the period. 89.12% of the stock is currently owned by institutional investors.
Tetra Tech Inc. (NASDAQ:TTEK) traded down 0.40% during mid-day trading on Tuesday, hitting $35.19. 267,250 shares of the stock traded hands. Tetra Tech Inc. has a 1-year low of $22.85 and a 1-year high of $36.24. The company’s 50 day moving average price is $34.65 and its 200-day moving average price is $31.21. The stock has a market cap of $2.02 billion, a price-to-earnings ratio of 98.85 and a beta of 1.18.
Tetra Tech (NASDAQ:TTEK) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.50 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.50. Tetra Tech had a net margin of 0.86% and a return on equity of 12.31%. The company had revenue of $667 million for the quarter, compared to the consensus estimate of $498.79 million. During the same period in the prior year, the firm posted $0.43 EPS. Tetra Tech’s revenue for the quarter was up 16.0% on a year-over-year basis. Analysts predict that Tetra Tech Inc. will post $1.88 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 31st. Investors of record on Friday, August 12th were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.02%. The ex-dividend date was Wednesday, August 10th. Tetra Tech’s dividend payout ratio (DPR) is 100.00%.
Several analysts have recently issued reports on TTEK shares. Canaccord Genuity raised shares of Tetra Tech from a “hold” rating to a “buy” rating in a research report on Tuesday, May 31st. Zacks Investment Research lowered shares of Tetra Tech from a “hold” rating to a “sell” rating in a research report on Monday, July 18th. Finally, FBR & Co boosted their price target on shares of Tetra Tech from $32.00 to $36.00 and gave the company a “market perform” rating in a research report on Friday, July 29th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $32.60.
In related news, SVP Richard A. Lemmon sold 8,000 shares of the stock in a transaction dated Thursday, June 23rd. The shares were sold at an average price of $31.25, for a total transaction of $250,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Steven M. Burdick sold 16,750 shares of the stock in a transaction dated Monday, July 11th. The shares were sold at an average price of $31.23, for a total transaction of $523,102.50. The disclosure for this sale can be found here. Corporate insiders own 4.00% of the company’s stock.
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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