Whittier Trust Co. cut its stake in shares of Tetra Tech Inc. (NASDAQ:TTEK) by 12.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,270 shares of the company’s stock after selling 900 shares during the period. Whittier Trust Co.’s holdings in Tetra Tech were worth $193,000 as of its most recent filing with the SEC.
Several other large investors also recently added to or reduced their stakes in the stock. BlackRock Institutional Trust Company N.A. increased its stake in shares of Tetra Tech by 5.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,563,248 shares of the company’s stock valued at $46,616,000 after buying an additional 85,672 shares in the last quarter. Bank of Montreal Can acquired a new stake in shares of Tetra Tech during the second quarter valued at about $1,377,000. Shell Asset Management Co. acquired a new stake in shares of Tetra Tech during the second quarter valued at about $1,019,000. Robecosam AG increased its stake in shares of Tetra Tech by 7.2% in the first quarter. Robecosam AG now owns 464,903 shares of the company’s stock valued at $13,836,000 after buying an additional 31,120 shares in the last quarter. Finally, BlackRock Group LTD increased its stake in shares of Tetra Tech by 12.7% in the first quarter. BlackRock Group LTD now owns 257,621 shares of the company’s stock valued at $7,682,000 after buying an additional 29,069 shares in the last quarter. 89.12% of the stock is owned by institutional investors.
Shares of Tetra Tech Inc. (NASDAQ:TTEK) traded up 1.16% on Friday, hitting $36.69. The company had a trading volume of 430,993 shares. The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of 103.06 and a beta of 1.21. Tetra Tech Inc. has a 1-year low of $22.85 and a 1-year high of $36.85. The company has a 50 day moving average price of $35.61 and a 200 day moving average price of $32.13.
Tetra Tech (NASDAQ:TTEK) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.50 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.50. Tetra Tech had a return on equity of 12.31% and a net margin of 0.86%. The business had revenue of $667 million for the quarter, compared to analysts’ expectations of $498.79 million. During the same quarter in the previous year, the firm earned $0.43 earnings per share. The business’s revenue was up 16.0% on a year-over-year basis. On average, equities analysts forecast that Tetra Tech Inc. will post $1.88 earnings per share for the current fiscal year.
Several equities research analysts have issued reports on the company. Boenning Scattergood reaffirmed an “outperform” rating on shares of Tetra Tech in a report on Friday, October 7th. Zacks Investment Research upgraded Tetra Tech from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a research report on Tuesday, October 4th. Canaccord Genuity reiterated a “buy” rating and set a $37.00 price objective on shares of Tetra Tech in a research report on Friday, July 29th. Finally, FBR & Co increased their price objective on Tetra Tech from $32.00 to $36.00 and gave the stock a “market perform” rating in a research report on Friday, July 29th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Tetra Tech currently has a consensus rating of “Buy” and a consensus price target of $34.40.
In other Tetra Tech news, SVP Janis B. Salin sold 16,750 shares of the business’s stock in a transaction on Thursday, July 21st. The stock was sold at an average price of $32.00, for a total value of $536,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director J Kenneth Thompson sold 8,000 shares of the business’s stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $32.75, for a total value of $262,000.00. Following the completion of the transaction, the director now directly owns 20,930 shares in the company, valued at approximately $685,457.50. The disclosure for this sale can be found here. 4.00% of the stock is owned by company insiders.
About Tetra Tech
Tetra Tech, Inc is a provider of consulting, engineering, program management, construction management, and technical services. The Company’s segments include Water, Environment and Infrastructure (WEI), Resource Management and Energy (RME), and Remediation and Construction Management (RCM). The WEI segment provides consulting and engineering services.
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