American Century Companies Inc. increased its stake in Tetra Tech, Inc. (NASDAQ:TTEK) by 57.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,181 shares of the industrial products company’s stock after buying an additional 1,520 shares during the quarter. American Century Companies Inc.’s holdings in Tetra Tech were worth $510,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. BlackRock Inc. lifted its position in Tetra Tech by 2.7% in the first quarter. BlackRock Inc. now owns 6,911,892 shares of the industrial products company’s stock worth $938,081,000 after buying an additional 183,315 shares during the last quarter. Alliancebernstein L.P. lifted its position in Tetra Tech by 7.2% in the second quarter. Alliancebernstein L.P. now owns 2,359,726 shares of the industrial products company’s stock worth $287,981,000 after buying an additional 157,847 shares during the last quarter. Neuberger Berman Group LLC lifted its position in Tetra Tech by 6.3% in the first quarter. Neuberger Berman Group LLC now owns 1,994,955 shares of the industrial products company’s stock worth $269,863,000 after buying an additional 117,699 shares during the last quarter. Geode Capital Management LLC lifted its position in Tetra Tech by 15.0% in the first quarter. Geode Capital Management LLC now owns 982,625 shares of the industrial products company’s stock worth $133,361,000 after buying an additional 128,217 shares during the last quarter. Finally, Allianz Asset Management GmbH lifted its position in shares of Tetra Tech by 18.1% during the first quarter. Allianz Asset Management GmbH now owns 732,285 shares of the industrial products company’s stock worth $99,386,000 after purchasing an additional 112,346 shares during the last quarter. Institutional investors own 83.25% of the company’s stock.
In other news, Director Patrick C. Haden sold 5,400 shares of the company’s stock in a transaction on Tuesday, September 7th. The stock was sold at an average price of $147.88, for a total value of $798,552.00. Following the transaction, the director now owns 3,380 shares of the company’s stock, valued at approximately $499,834.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director J Kenneth Thompson sold 4,200 shares of the company’s stock in a transaction on Friday, September 3rd. The shares were sold at an average price of $152.03, for a total value of $638,526.00. The disclosure for this sale can be found here. Insiders sold 16,066 shares of company stock valued at $2,395,443 over the last 90 days. Company insiders own 1.65% of the company’s stock.
Tetra Tech (NASDAQ:TTEK) last announced its quarterly earnings results on Wednesday, July 28th. The industrial products company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.87 by $0.08. The firm had revenue of $638.04 million for the quarter, compared to analyst estimates of $623.30 million. Tetra Tech had a return on equity of 17.81% and a net margin of 6.33%. Analysts forecast that Tetra Tech, Inc. will post 3.73 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 3rd. Shareholders of record on Friday, August 20th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date was Thursday, August 19th. Tetra Tech’s payout ratio is presently 24.54%.
Separately, Zacks Investment Research downgraded Tetra Tech from a “buy” rating to a “hold” rating and set a $149.00 target price for the company. in a research report on Friday, August 13th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $142.80.
Tetra Tech Profile
Tetra Tech, Inc engages in the provision of consulting and engineering services. It operates through the following segments: Government Services Group (GSG); Commercial and International Services Group (CIG); and Remediation and Construction Management (RCM). The GSG segment offers consulting and engineering services primarily to United States government clients such as federal, state and local, and development agencies worldwide.
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