Tetra Tech, Inc. (NASDAQ:TTEK) Shares Purchased by Penobscot Investment Management Company Inc.

Penobscot Investment Management Company Inc. lifted its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 57.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,132 shares of the industrial products company’s stock after acquiring an additional 6,960 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Tetra Tech were worth $3,194,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Stifel Financial Corp lifted its stake in Tetra Tech by 10.7% in the 3rd quarter. Stifel Financial Corp now owns 26,817 shares of the industrial products company’s stock worth $4,077,000 after acquiring an additional 2,593 shares in the last quarter. WCM Investment Management LLC lifted its stake in Tetra Tech by 2.5% in the 4th quarter. WCM Investment Management LLC now owns 339,938 shares of the industrial products company’s stock worth $57,127,000 after acquiring an additional 8,394 shares in the last quarter. Teachers Retirement System of The State of Kentucky lifted its stake in Tetra Tech by 95.7% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 17,977 shares of the industrial products company’s stock worth $2,733,000 after acquiring an additional 8,791 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc purchased a new stake in Tetra Tech in the 4th quarter worth about $82,209,000. Finally, Sequoia Financial Advisors LLC purchased a new stake in shares of Tetra Tech during the 4th quarter worth about $873,000. 93.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TTEK. Maxim Group raised their price target on Tetra Tech from $220.00 to $230.00 and gave the stock a “buy” rating in a research note on Tuesday. KeyCorp initiated coverage on Tetra Tech in a research note on Wednesday, January 10th. They set an “overweight” rating and a $191.00 price target for the company. Finally, Royal Bank of Canada increased their price objective on Tetra Tech from $192.00 to $203.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $201.00.

Tetra Tech Price Performance

NASDAQ:TTEK traded up $2.89 during mid-day trading on Tuesday, hitting $196.09. The company’s stock had a trading volume of 164,711 shares, compared to its average volume of 260,165. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.61. The stock has a fifty day moving average of $184.83 and a 200-day moving average of $170.68. The company has a market capitalization of $10.49 billion, a price-to-earnings ratio of 45.24 and a beta of 0.96. Tetra Tech, Inc. has a fifty-two week low of $132.29 and a fifty-two week high of $196.30.

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

Insider Buying and Selling

In other Tetra Tech news, Director J Kenneth Thompson sold 3,500 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $177.24, for a total transaction of $620,340.00. Following the transaction, the director now owns 10,985 shares in the company, valued at $1,946,981.40. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Tetra Tech news, Director J Kenneth Thompson sold 3,500 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $177.24, for a total transaction of $620,340.00. Following the transaction, the director now owns 10,985 shares in the company, valued at $1,946,981.40. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Brian N. Carter sold 5,580 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $176.52, for a total value of $984,981.60. Following the transaction, the senior vice president now owns 8,360 shares in the company, valued at approximately $1,475,707.20. The disclosure for this sale can be found here. Insiders sold a total of 32,123 shares of company stock worth $5,487,673 over the last three months. 0.61% of the stock is currently owned by company insiders.

Tetra Tech Profile

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.