Tetra Tech (NASDAQ:TTEK) Hits New 1-Year High at $194.99

Tetra Tech, Inc. (NASDAQ:TTEK)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $194.99 and last traded at $193.78, with a volume of 13728 shares changing hands. The stock had previously closed at $193.50.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on TTEK shares. KeyCorp started coverage on shares of Tetra Tech in a research report on Wednesday, January 10th. They set an “overweight” rating and a $191.00 price target on the stock. Royal Bank of Canada lifted their price target on shares of Tetra Tech from $192.00 to $203.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $197.25.

Tetra Tech Trading Down 1.2 %

The stock has a market capitalization of $10.28 billion, a price-to-earnings ratio of 44.47 and a beta of 0.96. 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 business’s 50-day simple moving average is $180.74 and its two-hundred day simple moving average is $167.51.

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

Tetra Tech Dividend Announcement

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

Insider Transactions at Tetra Tech

In other news, Director J Kenneth Thompson sold 3,500 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $177.24, for a total transaction of $620,340.00. Following the transaction, the director now directly owns 10,985 shares of the company’s stock, valued at $1,946,981.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CFO Steven M. Burdick sold 7,515 shares of the company’s stock in a transaction on 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 sale, the chief financial officer now directly owns 29,890 shares of the company’s stock, valued at $5,250,776.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director J Kenneth Thompson sold 3,500 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $177.24, for a total transaction of $620,340.00. Following the completion of the sale, the director now directly owns 10,985 shares in the company, valued at $1,946,981.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,123 shares of company stock valued at $5,487,673. Corporate insiders own 0.61% of the company’s stock.

Institutional Trading of Tetra Tech

Several institutional investors have recently added to or reduced their stakes in TTEK. Norges Bank bought a new stake in Tetra Tech during the fourth quarter valued at $132,468,000. CI Private Wealth LLC bought a new position in shares of Tetra Tech during the fourth quarter worth about $72,092,000. AEGON ASSET MANAGEMENT UK Plc bought a new position in shares of Tetra Tech during the fourth quarter worth about $82,209,000. Morgan Stanley grew its position in shares of Tetra Tech by 67.7% during the fourth quarter. Morgan Stanley now owns 602,765 shares of the industrial products company’s stock worth $87,516,000 after acquiring an additional 243,312 shares during the last quarter. Finally, Rockefeller Capital Management L.P. grew its position in shares of Tetra Tech by 489.8% during the first quarter. Rockefeller Capital Management L.P. now owns 268,091 shares of the industrial products company’s stock worth $39,384,000 after acquiring an additional 222,634 shares during the last quarter. Institutional investors own 93.89% of the company’s stock.

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.