Raymond James & Associates Cuts Position in Tetra Tech, Inc. (NASDAQ:TTEK)

Raymond James & Associates cut its stake in Tetra Tech, Inc. (NASDAQ:TTEK) by 17.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,034 shares of the industrial products company’s stock after selling 6,124 shares during the quarter. Raymond James & Associates owned about 0.05% of Tetra Tech worth $4,680,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in TTEK. American Century Companies Inc. increased its holdings in shares of Tetra Tech by 20.0% in the 1st quarter. American Century Companies Inc. now owns 3,178 shares of the industrial products company’s stock valued at $524,000 after acquiring an additional 529 shares during the period. US Bancorp DE increased its holdings in shares of Tetra Tech by 4.2% in the 1st quarter. US Bancorp DE now owns 2,170 shares of the industrial products company’s stock valued at $358,000 after acquiring an additional 87 shares during the period. Cetera Advisor Networks LLC purchased a new position in shares of Tetra Tech in the 1st quarter valued at $421,000. Bank of Montreal Can increased its holdings in shares of Tetra Tech by 8.2% in the 1st quarter. Bank of Montreal Can now owns 6,868 shares of the industrial products company’s stock valued at $1,163,000 after acquiring an additional 522 shares during the period. Finally, Great West Life Assurance Co. Can increased its holdings in shares of Tetra Tech by 8.3% in the 1st quarter. Great West Life Assurance Co. Can now owns 29,944 shares of the industrial products company’s stock valued at $5,077,000 after acquiring an additional 2,283 shares during the period. 93.89% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Royal Bank of Canada boosted their target price on Tetra Tech from $192.00 to $203.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. KeyCorp assumed coverage on Tetra Tech in a research note on Wednesday, January 10th. They set an “overweight” rating and a $191.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $197.25.

Tetra Tech Stock Down 1.2 %

Shares of TTEK stock opened at $192.11 on Thursday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.25 and a quick ratio of 1.25. The stock’s fifty day moving average price is $180.74 and its 200 day moving average price is $167.51. The company has a market cap of $10.28 billion, a price-to-earnings ratio of 44.47 and a beta of 0.96. Tetra Tech, Inc. has a 1-year low of $132.29 and a 1-year high of $194.99.

Tetra Tech (NASDAQ:TTEK) last posted its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.05. The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $974.00 million. Tetra Tech had a return on equity of 21.05% and a net margin of 4.77%. During the same quarter in the previous year, the business earned $1.34 EPS. On average, research analysts expect that Tetra Tech, Inc. will post 6.07 earnings per share for the current fiscal year.

Tetra Tech Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 27th. Shareholders of record on Wednesday, February 14th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Tuesday, February 13th. This represents a $1.04 annualized dividend and a yield of 0.54%. Tetra Tech’s payout ratio is presently 24.07%.

Insider Buying and Selling at Tetra Tech

In other Tetra Tech news, CFO Steven M. Burdick sold 7,128 shares of the business’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $165.01, for a total transaction of $1,176,191.28. Following the sale, the chief financial officer now owns 37,405 shares in the company, valued at approximately $6,172,199.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CFO Steven M. Burdick sold 7,128 shares of the business’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $165.01, for a total value of $1,176,191.28. Following the completion of the transaction, the chief financial officer now owns 37,405 shares of the company’s stock, valued at approximately $6,172,199.05. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Steven M. Burdick sold 7,515 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $175.67, for a total value of $1,320,160.05. Following the completion of the transaction, the chief financial officer now directly owns 29,890 shares of the company’s stock, valued at approximately $5,250,776.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,123 shares of company stock worth $5,487,673. 0.61% of the stock is currently owned by insiders.

Tetra Tech Company Profile

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.