Sumitomo Mitsui DS Asset Management Company Ltd Has $6 Million Stock Holdings in Tetra Tech, Inc. (NASDAQ:TTEK)

Sumitomo Mitsui DS Asset Management Company Ltd trimmed its position in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 5.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 35,919 shares of the industrial products company’s stock after selling 1,926 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Tetra Tech were worth $5,996,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Contravisory Investment Management Inc. acquired a new position in shares of Tetra Tech in the fourth quarter worth approximately $26,000. Meeder Asset Management Inc. lifted its stake in shares of Tetra Tech by 165.9% in the fourth quarter. Meeder Asset Management Inc. now owns 242 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 151 shares during the period. Millburn Ridgefield Corp acquired a new position in shares of Tetra Tech in the third quarter worth approximately $37,000. Covestor Ltd lifted its stake in shares of Tetra Tech by 90.8% in the first quarter. Covestor Ltd now owns 248 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 118 shares during the period. Finally, 1832 Asset Management L.P. lifted its stake in shares of Tetra Tech by 88.7% in the first quarter. 1832 Asset Management L.P. now owns 268 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 126 shares during the period. 93.89% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on TTEK. Royal Bank of Canada lifted their price objective 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 began coverage on Tetra Tech in a report on Wednesday, January 10th. They issued an “overweight” rating and a $191.00 target price for the company. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $197.25.

Tetra Tech Trading Down 1.2 %

Shares of TTEK stock opened at $184.67 on Monday. The company has a market cap of $9.88 billion, a P/E ratio of 42.75 and a beta of 0.96. The stock has a 50 day simple moving average of $183.42 and a two-hundred day simple moving average of $169.41. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.25 and a current ratio of 1.25. Tetra Tech, Inc. has a fifty-two week low of $132.29 and a fifty-two week high of $194.99.

Tetra Tech (NASDAQ:TTEK) last issued its earnings results on Wednesday, January 31st. The industrial products company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.05. The business had revenue of $1.23 billion during 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 period in the previous year, the company posted $1.34 earnings per share. Research analysts forecast that Tetra Tech, Inc. will post 6.07 earnings per share for the current year.

Tetra Tech Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 27th. Investors of record on Wednesday, February 14th were issued 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 0.56%. Tetra Tech’s dividend payout ratio (DPR) is currently 24.07%.

Insider Buying and Selling

In other Tetra Tech news, SVP Brian N. Carter sold 5,580 shares of the business’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $176.52, for a total value of $984,981.60. Following the transaction, the senior vice president now owns 8,360 shares of the company’s stock, valued at $1,475,707.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, SVP Brian N. Carter sold 5,580 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $176.52, for a total transaction of $984,981.60. Following the transaction, the senior vice president now owns 8,360 shares of the company’s stock, valued at approximately $1,475,707.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director J Kenneth Thompson sold 8,400 shares of the business’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $165.00, for a total value of $1,386,000.00. Following the sale, the director now owns 14,485 shares in the company, valued at $2,390,025. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,123 shares of company stock worth $5,487,673. 0.61% of the stock is owned by corporate insiders.

Tetra Tech 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.