First Mercantile Trust Co. lowered its position in Tetra Tech Inc. (NASDAQ:TTEK) by 30.1% during the second quarter, Holdings Channel reports. The firm owned 13,820 shares of the company’s stock after selling 5,940 shares during the period. First Mercantile Trust Co.’s holdings in Tetra Tech were worth $425,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of TTEK. Norges Bank bought a new stake in Tetra Tech during the fourth quarter worth approximately $56,782,000. Aperio Group LLC increased 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 worth $727,000 after buying an additional 4,715 shares in the last quarter. Ngam Advisors L.P. increased 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 worth $1,106,000 after buying an additional 2,049 shares in the last quarter. Prudential Financial Inc. increased 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 worth $4,268,000 after buying an additional 5,900 shares in the last quarter. Finally, BlackRock Inc. increased its stake in Tetra Tech by 8.1% in the first quarter. BlackRock Inc. now owns 26,517 shares of the company’s stock worth $791,000 after buying an additional 1,993 shares in the last quarter. Institutional investors and hedge funds own 89.12% of the company’s stock.
Shares of Tetra Tech Inc. (NASDAQ:TTEK) opened at 35.34 on Tuesday. Tetra Tech Inc. has a 52-week low of $22.85 and a 52-week high of $36.24. The stock has a 50 day moving average of $34.99 and a 200 day moving average of $31.48. The firm has a market cap of $2.03 billion, a price-to-earnings ratio of 99.27 and a beta of 1.18.
Tetra Tech (NASDAQ:TTEK) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.50 earnings per share for the quarter, meeting the consensus estimate of $0.50. The firm had revenue of $667 million for 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 revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.43 earnings per share. Equities analysts predict that Tetra Tech Inc. will post $1.88 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, August 31st. Stockholders of record on Friday, August 12th were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend was Wednesday, August 10th. Tetra Tech’s dividend payout ratio is 100.00%.
TTEK has been the topic of several recent analyst reports. Canaccord Genuity raised shares of Tetra Tech from a “hold” rating to a “buy” rating in a research note 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 upped their price target 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 analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $32.60.
In other news, Director J Kenneth Thompson sold 8,000 shares of Tetra Tech stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $32.75, for a total value of $262,000.00. Following the transaction, the director now owns 20,930 shares of the company’s stock, valued at $685,457.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Craig L. Christensen sold 16,750 shares of Tetra Tech stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $35.00, for a total transaction of $586,250.00. Following the completion of the transaction, the senior vice president now directly owns 45,891 shares in the company, valued at approximately $1,606,185. The disclosure for this sale can be found here. 4.00% of the stock is currently owned by insiders.
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.
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