New York Life Investment Management LLC Sells 2,434 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

New York Life Investment Management LLC decreased its stake in Tetra Tech, Inc. (NASDAQ:TTEK) by 7.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,294 shares of the industrial products company’s stock after selling 2,434 shares during the period. New York Life Investment Management LLC’s holdings in Tetra Tech were worth $1,127,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Oregon Public Employees Retirement Fund lifted its stake in Tetra Tech by 0.7% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 54,525 shares of the industrial products company’s stock valued at $2,172,000 after purchasing an additional 400 shares during the last quarter. Nordea Investment Management AB lifted its stake in Tetra Tech by 0.9% in the 4th quarter. Nordea Investment Management AB now owns 45,422 shares of the industrial products company’s stock valued at $1,809,000 after purchasing an additional 411 shares during the last quarter. CIBC Asset Management Inc lifted its stake in Tetra Tech by 5.6% in the 4th quarter. CIBC Asset Management Inc now owns 8,318 shares of the industrial products company’s stock valued at $331,000 after purchasing an additional 438 shares during the last quarter. LGT Financial Advisors LLC lifted its stake in Tetra Tech by 400.0% in the 3rd quarter. LGT Financial Advisors LLC now owns 555 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 444 shares during the last quarter. Finally, Canton Hathaway LLC lifted its stake in Tetra Tech by 400.0% in the 3rd quarter. Canton Hathaway LLC now owns 645 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 516 shares during the last quarter. Institutional investors own 93.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TTEK. KeyCorp cut their price objective on shares of Tetra Tech from $49.00 to $45.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Royal Bank of Canada set a $49.00 price objective on shares of Tetra Tech in a research report on Friday, January 31st. Robert W. Baird raised their price objective on shares of Tetra Tech from $46.00 to $47.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. StockNews.com downgraded shares of Tetra Tech from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Finally, Maxim Group downgraded shares of Tetra Tech from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $47.92.

Tetra Tech Stock Down 3.2 %

Shares of TTEK opened at $28.26 on Tuesday. Tetra Tech, Inc. has a 12 month low of $28.17 and a 12 month high of $51.20. The firm’s 50 day moving average is $36.62 and its 200-day moving average is $42.60. The stock has a market capitalization of $7.57 billion, a PE ratio of 29.68 and a beta of 0.89. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.53.

Tetra Tech (NASDAQ:TTEK) last announced its earnings results on Wednesday, January 29th. The industrial products company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.34 by $0.01. Tetra Tech had a net margin of 4.81% and a return on equity of 22.58%. Equities research analysts forecast that Tetra Tech, Inc. will post 1.37 EPS for the current year.

Tetra Tech Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were issued a dividend of $0.058 per share. The ex-dividend date was Wednesday, February 12th. This represents a $0.23 annualized dividend and a dividend yield of 0.82%. Tetra Tech’s dividend payout ratio is presently 24.21%.

Insider Activity at Tetra Tech

In related news, Director Kirsten M. Volpi sold 10,116 shares of Tetra Tech stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $34.33, for a total value of $347,282.28. Following the transaction, the director now directly owns 60,196 shares of the company’s stock, valued at $2,066,528.68. This trade represents a 14.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.40% of the stock is currently owned by insiders.

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.