Pitcairn Co. Sells 442 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

Pitcairn Co. cut its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 6.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,354 shares of the industrial products company’s stock after selling 442 shares during the period. Pitcairn Co.’s holdings in Tetra Tech were worth $253,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. New England Research & Management Inc. bought a new position in shares of Tetra Tech during the 4th quarter valued at about $596,000. Nicola Wealth Management LTD. raised its holdings in Tetra Tech by 36.8% during the 4th quarter. Nicola Wealth Management LTD. now owns 65,000 shares of the industrial products company’s stock worth $2,590,000 after buying an additional 17,500 shares during the period. Lecap Asset Management Ltd. lifted its stake in Tetra Tech by 71.3% in the fourth quarter. Lecap Asset Management Ltd. now owns 44,769 shares of the industrial products company’s stock valued at $1,784,000 after buying an additional 18,635 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its holdings in shares of Tetra Tech by 53.3% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 39,150 shares of the industrial products company’s stock valued at $1,560,000 after buying an additional 13,606 shares during the period. Finally, Perpetual Ltd increased its position in shares of Tetra Tech by 9.6% during the fourth quarter. Perpetual Ltd now owns 215,042 shares of the industrial products company’s stock worth $8,567,000 after acquiring an additional 18,842 shares in the last quarter. 93.89% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Tetra Tech news, Director Kirsten M. Volpi sold 10,116 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $34.33, for a total value of $347,282.28. Following the completion of the sale, the director now owns 60,196 shares in the company, valued at $2,066,528.68. This trade represents a 14.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Maxim Group lowered shares of Tetra Tech from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Royal Bank of Canada set a $49.00 price target on Tetra Tech in a research note on Friday, January 31st. Finally, KeyCorp reduced their price objective on Tetra Tech from $49.00 to $45.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $47.92.

Tetra Tech Stock Down 3.0 %

Tetra Tech stock opened at $29.10 on Monday. The company has a fifty day simple moving average of $31.02 and a 200 day simple moving average of $39.54. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.53. Tetra Tech, Inc. has a 1-year low of $28.17 and a 1-year high of $51.20. The company has a market cap of $7.80 billion, a P/E ratio of 30.57 and a beta of 0.93.

Tetra Tech (NASDAQ:TTEK) last released its earnings results on Wednesday, January 29th. The industrial products company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. Tetra Tech had a return on equity of 22.58% and a net margin of 4.81%. Research analysts anticipate that Tetra Tech, Inc. will post 1.37 earnings per share for the current fiscal year.

Tetra Tech Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were paid a $0.058 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $0.23 annualized dividend and a dividend yield of 0.80%. Tetra Tech’s dividend payout ratio is presently 24.21%.

About Tetra Tech

Tetra Tech, Inc provides consulting and engineering services in the United States and internationally. The company operates through two segments, Government Services Group (GSG) and Commercial/International Services Group (CIG). The GSG segment offers early data collection and monitoring, data analysis and information management, science and engineering applied research, engineering design, project 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.