Envestnet Portfolio Solutions Inc. purchased a new position in Tetra Tech, Inc. (NASDAQ:TTEK – Free Report) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 6,508 shares of the industrial products company’s stock, valued at approximately $989,000.
A number of other hedge funds have also bought and sold shares of TTEK. Norges Bank bought a new stake in Tetra Tech during the fourth quarter worth approximately $132,468,000. CI Private Wealth LLC acquired a new position in Tetra Tech in the fourth quarter worth approximately $72,092,000. Morgan Stanley grew its position in Tetra Tech by 67.7% in the fourth quarter. Morgan Stanley now owns 602,765 shares of the industrial products company’s stock worth $87,516,000 after buying an additional 243,312 shares during the last quarter. Rockefeller Capital Management L.P. grew its position in Tetra Tech by 489.8% during the 1st quarter. Rockefeller Capital Management L.P. now owns 268,091 shares of the industrial products company’s stock worth $39,384,000 after purchasing an additional 222,634 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its position in Tetra Tech by 2,283.4% during the 3rd quarter. Janney Montgomery Scott LLC now owns 148,581 shares of the industrial products company’s stock worth $22,589,000 after purchasing an additional 142,347 shares in the last quarter. 87.95% of the stock is currently owned by institutional investors and hedge funds.
Tetra Tech Stock Performance
NASDAQ TTEK opened at $177.15 on Friday. Tetra Tech, Inc. has a 52-week low of $131.19 and a 52-week high of $181.40. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.25 and a current ratio of 1.25. The firm has a 50-day moving average of $167.87 and a 200-day moving average of $161.84. The stock has a market cap of $9.42 billion, a PE ratio of 41.01 and a beta of 0.95.
Tetra Tech (NASDAQ:TTEK – Get Free Report) last released its earnings results on Wednesday, January 31st. The industrial products company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.35 by $0.05. The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $974.00 million. Tetra Tech had a net margin of 4.77% and a return on equity of 21.05%. During the same period last year, the firm earned $1.34 EPS. On average, sell-side analysts anticipate that Tetra Tech, Inc. will post 6.07 EPS for the current year.
Tetra Tech Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 27th. Investors of record on Wednesday, February 14th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date is Tuesday, February 13th. Tetra Tech’s dividend payout ratio is 24.07%.
Insider Buying and Selling
In other Tetra Tech news, SVP Brian N. Carter sold 1,474 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $165.58, for a total value of $244,064.92. Following the completion of the transaction, the senior vice president now directly owns 8,360 shares in the company, valued at approximately $1,384,248.80. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, SVP Brian N. Carter sold 1,474 shares of the stock in a transaction on Monday, December 4th. The shares were sold at an average price of $165.58, for a total transaction of $244,064.92. Following the transaction, the senior vice president now directly owns 8,360 shares of the company’s stock, valued at $1,384,248.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Steven M. Burdick sold 7,515 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $175.67, for a total transaction of $1,320,160.05. Following the completion of the transaction, the chief financial officer now directly owns 29,890 shares in the company, valued at $5,250,776.30. The disclosure for this sale can be found here. Insiders sold a total of 62,401 shares of company stock worth $10,398,184 in the last three months. 0.61% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
Several equities 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 objective on the stock. Robert W. Baird upped their target price on shares of Tetra Tech from $172.00 to $180.00 and gave the company a “neutral” rating in a research note on Thursday, November 16th. Finally, Royal Bank of Canada upped their target price on shares of Tetra Tech from $192.00 to $203.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Tetra Tech currently has an average rating of “Moderate Buy” and a consensus target price of $197.25.
Read Our Latest Stock Analysis on TTEK
Tetra Tech Profile
(Free Report)
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.
Recommended Stories
Receive News & Ratings for Tetra Tech Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Tetra Tech and related companies with MarketBeat.com’s FREE daily email newsletter.
Source link
credite