Prudential Financial Inc. boosted its position in shares of Tetra Tech Inc. (NASDAQ:TTEK) by 2.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 147,260 shares of the company’s stock after buying an additional 4,120 shares during the period. Prudential Financial Inc. owned about 0.26% of Tetra Tech worth $4,528,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in TTEK. Capstone Asset Management Co. increased its stake in Tetra Tech by 1.1% in the second quarter. Capstone Asset Management Co. now owns 18,143 shares of the company’s stock worth $558,000 after buying an additional 190 shares in the last quarter. Bessemer Group Inc. increased its stake in Tetra Tech by 2.9% in the first quarter. Bessemer Group Inc. now owns 7,168 shares of the company’s stock worth $214,000 after buying an additional 203 shares in the last quarter. Synovus Financial Corp increased its stake in Tetra Tech by 0.7% in the second quarter. Synovus Financial Corp now owns 41,928 shares of the company’s stock worth $1,286,000 after buying an additional 290 shares in the last quarter. Ngam Advisors L.P. increased its stake in Tetra Tech by 1.4% in the second quarter. Ngam Advisors L.P. now owns 37,604 shares of the company’s stock worth $1,156,000 after buying an additional 522 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its stake in Tetra Tech by 11.1% in the second quarter. Teacher Retirement System of Texas now owns 8,071 shares of the company’s stock worth $248,000 after buying an additional 807 shares in the last quarter. Institutional investors and hedge funds own 89.10% of the company’s stock.
Tetra Tech Inc. (NASDAQ:TTEK) opened at 36.69 on Monday. The company has a 50-day moving average price of $35.61 and a 200-day moving average price of $32.13. Tetra Tech Inc. has a 12-month low of $22.85 and a 12-month high of $36.85. The stock has a market capitalization of $2.11 billion, a PE ratio of 103.06 and a beta of 1.21.
Tetra Tech (NASDAQ:TTEK) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.50 EPS for the quarter, meeting the consensus estimate of $0.50. Tetra Tech had a return on equity of 12.31% and a net margin of 0.86%. The company had revenue of $667 million for the quarter, compared to analyst estimates of $498.79 million. During the same period last year, the company earned $0.43 earnings per share. Tetra Tech’s quarterly revenue was up 16.0% compared to the same quarter last year. Analysts expect that Tetra Tech Inc. will post $1.88 earnings per share for the current fiscal year.
A number of research analysts recently issued reports on TTEK shares. Zacks Investment Research upgraded Tetra Tech from a “sell” rating to a “hold” rating in a research note on Monday, July 25th. Canaccord Genuity reiterated a “buy” rating and set a $37.00 price objective on shares of Tetra Tech in a research note on Friday, July 29th. Boenning Scattergood reiterated an “outperform” rating on shares of Tetra Tech in a research note on Friday, October 7th. Finally, FBR & Co boosted their price objective on Tetra Tech from $32.00 to $36.00 and gave the company a “market perform” rating in a research note on Friday, July 29th. 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 stock presently has a consensus rating of “Buy” and a consensus target price of $34.40.
In other Tetra Tech news, SVP Janis B. Salin sold 16,750 shares of the firm’s stock in a transaction that occurred on Thursday, July 21st. The stock was sold at an average price of $32.00, for a total value of $536,000.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director J Kenneth Thompson sold 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $32.75, for a total value of $262,000.00. Following the completion of the sale, the director now directly owns 20,930 shares in the company, valued at $685,457.50. The disclosure for this sale can be found here. 4.00% of the stock is owned by company insiders.
Tetra Tech Company Profile
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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