Genesee Valley Trust Co. cut its stake in shares of Tetra Tech Inc. (NASDAQ:TTEK) by 1.9% during the second quarter, Holdings Channel reports. The fund owned 28,437 shares of the company’s stock after selling 558 shares during the period. Genesee Valley Trust Co.’s holdings in Tetra Tech were worth $874,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of TTEK. Capstone Asset Management Co. boosted its position in shares of Tetra Tech by 1.1% in the second quarter. Capstone Asset Management Co. now owns 18,143 shares of the company’s stock valued at $558,000 after buying an additional 190 shares during the last quarter. Bessemer Group Inc. boosted its position in shares of Tetra Tech by 2.9% in the first quarter. Bessemer Group Inc. now owns 7,168 shares of the company’s stock valued at $214,000 after buying an additional 203 shares during the last quarter. OLD National Bancorp IN boosted its position in shares of 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 last quarter. Metropolitan Life Insurance Co. NY boosted its position in Tetra Tech by 1.1% in the first quarter. Metropolitan Life Insurance Co. NY now owns 41,821 shares of the company’s stock worth $1,247,000 after buying an additional 451 shares in the last quarter. Finally, Arizona State Retirement System boosted its position in Tetra Tech by 3.4% in the first quarter. Arizona State Retirement System now owns 30,023 shares of the company’s stock worth $895,000 after buying an additional 1,000 shares in the last quarter. Institutional investors own 89.12% of the company’s stock.
Tetra Tech Inc. (NASDAQ:TTEK) traded down 0.40% during midday trading on Tuesday, reaching $35.19. 267,250 shares of the company’s stock were exchanged. The stock has a market cap of $2.02 billion, a PE ratio of 98.85 and a beta of 1.18. Tetra Tech Inc. has a 12 month low of $22.85 and a 12 month high of $36.24. The firm has a 50 day moving average of $34.65 and a 200-day moving average of $31.21.
Tetra Tech (NASDAQ:TTEK) last issued its earnings results on Wednesday, July 27th. The company reported $0.50 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.50. The firm earned $667 million during the quarter, compared to analyst estimates of $498.79 million. Tetra Tech had a net margin of 0.86% and a return on equity of 12.31%. The company’s quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter last year, the business earned $0.43 earnings per share. On average, equities research analysts predict that Tetra Tech Inc. will post $1.88 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 31st. Shareholders of record on Friday, August 12th were given a dividend of $0.09 per share. The ex-dividend date was Wednesday, August 10th. This represents a $0.36 dividend on an annualized basis and a yield of 1.02%. Tetra Tech’s dividend payout ratio is presently 100.00%.
A number of research firms recently issued reports on TTEK. Canaccord Genuity reiterated a “buy” rating and set a $37.00 price objective on shares of Tetra Tech in a research report on Friday, July 29th. Zacks Investment Research upgraded shares of Tetra Tech from a “sell” rating to a “hold” rating in a research report on Monday, July 25th. Finally, FBR & Co upped their price objective on shares of Tetra Tech from $32.00 to $36.00 and gave the stock a “market perform” rating in a research report on Friday, July 29th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Tetra Tech has an average rating of “Hold” and an average price target of $32.60.
In other Tetra Tech news, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Richard A. Lemmon sold 8,000 shares of the stock in a transaction dated Thursday, June 23rd. The stock was sold at an average price of $31.25, for a total transaction of $250,000.00. The disclosure for this sale can be found here. Company 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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