United Services Automobile Association lessened its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 24.7% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 8,488 shares of the industrial products company’s stock after selling 2,778 shares during the period. United Services Automobile Association’s holdings in Tetra Tech were worth $667,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Stanley Laman Group Ltd. increased its holdings in Tetra Tech by 0.9% during the second quarter. Stanley Laman Group Ltd. now owns 15,092 shares of the industrial products company’s stock valued at $1,185,000 after buying an additional 129 shares during the period. Bridge City Capital LLC increased its holdings in Tetra Tech by 0.5% during the second quarter. Bridge City Capital LLC now owns 39,495 shares of the industrial products company’s stock valued at $3,102,000 after buying an additional 195 shares during the period. Commonwealth Equity Services LLC increased its holdings in Tetra Tech by 2.9% during the second quarter. Commonwealth Equity Services LLC now owns 7,172 shares of the industrial products company’s stock valued at $563,000 after buying an additional 203 shares during the period. Huntington National Bank increased its holdings in Tetra Tech by 57.7% during the second quarter. Huntington National Bank now owns 749 shares of the industrial products company’s stock valued at $59,000 after buying an additional 274 shares during the period. Finally, Meeder Asset Management Inc. increased its holdings in Tetra Tech by 82.7% during the second quarter. Meeder Asset Management Inc. now owns 625 shares of the industrial products company’s stock valued at $49,000 after buying an additional 283 shares during the period. 86.36% of the stock is owned by hedge funds and other institutional investors.
TTEK has been the topic of several research reports. ValuEngine lowered shares of Tetra Tech from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Roth Capital lifted their price objective on shares of Tetra Tech from $75.00 to $84.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. BidaskClub raised shares of Tetra Tech from a “buy” rating to a “strong-buy” rating in a report on Friday, August 9th. Finally, Maxim Group set a $92.00 price objective on shares of Tetra Tech and gave the company a “buy” rating in a report on Friday, August 23rd. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $80.40.
NASDAQ TTEK opened at $85.62 on Friday. The firm’s fifty day simple moving average is $82.62 and its two-hundred day simple moving average is $74.50. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.32. Tetra Tech, Inc. has a 12-month low of $48.52 and a 12-month high of $87.62. The firm has a market capitalization of $4.56 billion, a P/E ratio of 27.47, a P/E/G ratio of 1.56 and a beta of 1.10.
Tetra Tech (NASDAQ:TTEK) last released its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.89 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.09. Tetra Tech had a net margin of 5.85% and a return on equity of 17.36%. The business had revenue of $623.20 million for the quarter, compared to analyst estimates of $605.42 million. During the same period in the previous year, the company earned $0.71 earnings per share. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. As a group, sell-side analysts predict that Tetra Tech, Inc. will post 3.13 earnings per share for the current fiscal year.
In other news, SVP Richard A. Lemmon sold 11,510 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $82.74, for a total transaction of $952,337.40. Following the sale, the senior vice president now directly owns 45,667 shares of the company’s stock, valued at $3,778,487.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kirsten M. Volpi sold 4,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $312,000.00. Following the sale, the director now directly owns 15,378 shares in the company, valued at $1,199,484. The disclosure for this sale can be found here. Insiders sold 128,009 shares of company stock worth $10,375,455 over the last ninety days. Corporate insiders own 3.00% of the company’s stock.
About Tetra Tech
Tetra Tech, Inc provides consulting and engineering services worldwide. It operates through Government Services Group (GSG) and Commercial/International Services Group (CIG) segments. The GSG segment offers early data collection and monitoring, data analysis and information technology, science and engineering applied research, engineering design, construction 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.
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