Tetra Tech, Inc. (NASDAQ:TTEK) Shares Sold by Legal & General Group Plc

Legal & General Group Plc cut its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 1.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 428,654 shares of the industrial products company’s stock after selling 6,405 shares during the quarter. Legal & General Group Plc’s holdings in Tetra Tech were worth $17,078,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. New England Research & Management Inc. purchased a new stake in shares of Tetra Tech in the fourth quarter valued at about $596,000. Nicola Wealth Management LTD. lifted its position 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 acquiring an additional 17,500 shares during the period. Lecap Asset Management Ltd. grew its stake in shares of Tetra Tech by 71.3% in the 4th quarter. Lecap Asset Management Ltd. now owns 44,769 shares of the industrial products company’s stock valued at $1,784,000 after purchasing an additional 18,635 shares during the last quarter. Y Intercept Hong Kong Ltd increased 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 purchasing an additional 13,606 shares during the period. Finally, Perpetual Ltd raised its stake 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 purchasing an additional 18,842 shares during the last quarter. Hedge funds and other institutional investors own 93.89% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Maxim Group cut shares of Tetra Tech from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. KeyCorp cut their price target on shares of Tetra Tech from $49.00 to $45.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Finally, Royal Bank of Canada set a $49.00 price objective on Tetra Tech in a report on Friday, January 31st. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $47.92.

Insider Activity

In other Tetra Tech news, Director Kirsten M. Volpi sold 10,116 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $34.33, for a total transaction of $347,282.28. Following the completion of the transaction, the director now directly owns 60,196 shares in the company, valued at approximately $2,066,528.68. This trade represents a 14.39 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.40% of the company’s stock.

Tetra Tech Stock Performance

NASDAQ:TTEK opened at $30.42 on Tuesday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.53. Tetra Tech, Inc. has a fifty-two week low of $27.27 and a fifty-two week high of $51.20. The firm’s fifty day simple moving average is $29.87 and its 200-day simple moving average is $38.61. The stock has a market cap of $8.15 billion, a PE ratio of 31.95 and a beta of 0.89.

Tetra Tech (NASDAQ:TTEK) last issued 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 net margin of 4.81% and a return on equity of 22.58%. Analysts expect 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. Shareholders of record on Wednesday, February 12th were issued a $0.058 dividend. This represents a $0.23 annualized dividend and a yield of 0.76%. The ex-dividend date was Wednesday, February 12th. Tetra Tech’s dividend payout ratio (DPR) is 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.