Adams Diversified Equity Fund Inc. lowered its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 40.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,700 shares of the industrial products company’s stock after selling 7,300 shares during the period. Adams Diversified Equity Fund Inc.’s holdings in Tetra Tech were worth $731,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of the business. LPL Financial LLC bought a new position in Tetra Tech during the first quarter worth $494,000. BlackRock Inc. boosted its position in Tetra Tech by 9.2% during the second quarter. BlackRock Inc. now owns 8,166,363 shares of the industrial products company’s stock worth $477,733,000 after purchasing an additional 691,409 shares during the period. CAPROCK Group Inc. bought a new position in Tetra Tech during the second quarter worth $237,000. Systematic Financial Management LP boosted its position in Tetra Tech by 14.8% during the second quarter. Systematic Financial Management LP now owns 251,046 shares of the industrial products company’s stock worth $14,686,000 after purchasing an additional 32,282 shares during the period. Finally, Chicago Equity Partners LLC bought a new position in Tetra Tech during the second quarter worth $1,034,000. 83.89% of the stock is currently owned by institutional investors.
In related news, CEO Dan L. Batrack sold 44,869 shares of the business’s stock in a transaction dated Thursday, November 15th. The stock was sold at an average price of $65.11, for a total value of $2,921,420.59. Following the completion of the transaction, the chief executive officer now owns 305,800 shares of the company’s stock, valued at $19,910,638. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Kirsten M. Volpi sold 1,200 shares of the business’s stock in a transaction dated Wednesday, November 14th. The shares were sold at an average price of $66.94, for a total value of $80,328.00. Following the completion of the transaction, the director now directly owns 8,801 shares of the company’s stock, valued at approximately $589,138.94. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,819 shares of company stock valued at $3,447,114. 3.40% of the stock is owned by insiders.
Shares of TTEK traded down $0.76 during midday trading on Thursday, reaching $62.68. 178,446 shares of the stock were exchanged, compared to its average volume of 314,861. Tetra Tech, Inc. has a twelve month low of $44.65 and a twelve month high of $72.56. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.01 and a current ratio of 1.70. The company has a market capitalization of $3.51 billion, a P/E ratio of 23.74, a P/E/G ratio of 1.58 and a beta of 0.98.
Tetra Tech (NASDAQ:TTEK) last posted its earnings results on Wednesday, November 7th. The industrial products company reported $0.75 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.01. The company had revenue of $563.67 million during the quarter, compared to the consensus estimate of $571.33 million. Tetra Tech had a return on equity of 15.80% and a net margin of 4.62%. The company’s revenue was up 5.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.63 earnings per share. On average, equities research analysts predict that Tetra Tech, Inc. will post 2.88 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 30th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend is Thursday, November 29th. Tetra Tech’s dividend payout ratio (DPR) is presently 18.18%.
A number of equities analysts have commented on TTEK shares. Maxim Group started coverage on shares of Tetra Tech in a research report on Tuesday, October 23rd. They set a “buy” rating and a $87.00 price objective for the company. BidaskClub raised Tetra Tech from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 8th. Canaccord Genuity reissued a “buy” rating and set a $73.00 target price (up previously from $60.00) on shares of Tetra Tech in a report on Thursday, August 2nd. Zacks Investment Research raised Tetra Tech from a “sell” rating to a “buy” rating and set a $74.00 target price for the company in a report on Monday, August 6th. Finally, Roth Capital lifted their target price on Tetra Tech from $59.00 to $73.00 and gave the stock a “buy” rating in a report on Monday, August 6th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $70.71.
Tetra Tech Profile
Tetra Tech, Inc provides consulting and engineering services worldwide. It operates through two segments, Water, Environment and Infrastructure (WEI); and Resource Management and Energy (RME). The WEI 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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