Great Lakes Advisors LLC lifted its holdings in Tetra Tech, Inc. (NASDAQ:TTEK) by 6.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,655 shares of the industrial products company’s stock after buying an additional 400 shares during the quarter. Great Lakes Advisors LLC’s holdings in Tetra Tech were worth $396,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in TTEK. Vanguard Group Inc raised its holdings in Tetra Tech by 1.5% during the third quarter. Vanguard Group Inc now owns 5,584,328 shares of the industrial products company’s stock valued at $381,410,000 after buying an additional 84,426 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Tetra Tech in the fourth quarter valued at about $66,000. Bank of Montreal Can grew its position in shares of Tetra Tech by 10.0% in the fourth quarter. Bank of Montreal Can now owns 7,294 shares of the industrial products company’s stock valued at $377,000 after purchasing an additional 666 shares during the last quarter. Strs Ohio grew its position in shares of Tetra Tech by 23.7% in the fourth quarter. Strs Ohio now owns 7,300 shares of the industrial products company’s stock valued at $377,000 after purchasing an additional 1,400 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Tetra Tech by 11.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,847 shares of the industrial products company’s stock valued at $199,000 after purchasing an additional 387 shares during the last quarter. 85.93% of the stock is currently owned by hedge funds and other institutional investors.
In related news, SVP Craig L. Christensen sold 3,925 shares of Tetra Tech stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $60.00, for a total transaction of $235,500.00. Following the sale, the senior vice president now directly owns 38,866 shares of the company’s stock, valued at $2,331,960. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Mark A. Rynning sold 871 shares of Tetra Tech stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $67.37, for a total value of $58,679.27. Following the sale, the senior vice president now directly owns 2,204 shares in the company, valued at $148,483.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,588 shares of company stock worth $3,116,770. 3.00% of the stock is owned by company insiders.
Several brokerages have recently issued reports on TTEK. BidaskClub raised Tetra Tech from a “sell” rating to a “hold” rating in a research report on Thursday, May 9th. Roth Capital raised their price target on Tetra Tech from $66.00 to $75.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Zacks Investment Research raised Tetra Tech from a “hold” rating to a “buy” rating and set a $76.00 price target on the stock in a research report on Friday, May 3rd. Boenning Scattergood reaffirmed a “buy” rating and issued a $80.00 price target on shares of Tetra Tech in a research report on Thursday, May 2nd. Finally, Maxim Group reaffirmed a “buy” rating and issued a $87.00 price target on shares of Tetra Tech in a research report on Wednesday, April 24th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $76.83.
Shares of NASDAQ:TTEK opened at $66.94 on Friday. The stock has a market capitalization of $3.67 billion, a PE ratio of 25.36, a price-to-earnings-growth ratio of 1.50 and a beta of 1.18. Tetra Tech, Inc. has a 52-week low of $48.52 and a 52-week high of $72.56. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.60 and a current ratio of 1.60.
Tetra Tech (NASDAQ:TTEK) last issued its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.06. Tetra Tech had a return on equity of 16.71% and a net margin of 5.44%. The company had revenue of $585.40 million for the quarter, compared to the consensus estimate of $552.65 million. During the same period last year, the business posted $0.54 earnings per share. The firm’s revenue was up 9.9% compared to the same quarter last year. On average, sell-side analysts predict that Tetra Tech, Inc. will post 3.03 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Wednesday, May 15th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This is an increase from Tetra Tech’s previous quarterly dividend of $0.12. This represents a $0.60 dividend on an annualized basis and a yield of 0.90%. Tetra Tech’s dividend payout ratio (DPR) is 22.73%.
About Tetra Tech
Tetra Tech, Inc provides consulting and engineering services worldwide. It operates through Government Services Group (GSG) and Commercial/International Services Group (CIG) segments. The GSG segment offers early data collection and monitoring, data analysis and information technology, science and engineering applied research, engineering design, construction 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.
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