Mirae Asset Global Investments Co. Ltd. Decreases Stake in Tetra Tech, Inc. (NASDAQ:TTEK)

Mirae Asset Global Investments Co. Ltd. lessened its stake in Tetra Tech, Inc. (NASDAQ:TTEK) by 0.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 278,358 shares of the industrial products company’s stock after selling 2,514 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 0.52% of Tetra Tech worth $46,466,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Contravisory Investment Management Inc. purchased a new position in Tetra Tech in the fourth quarter valued at about $26,000. Meeder Asset Management Inc. lifted its position in Tetra Tech by 165.9% during the fourth quarter. Meeder Asset Management Inc. now owns 242 shares of the industrial products company’s stock worth $35,000 after buying an additional 151 shares during the period. Millburn Ridgefield Corp acquired a new stake in Tetra Tech in the 3rd quarter worth about $37,000. ST Germain D J Co. Inc. purchased a new stake in Tetra Tech in the 2nd quarter valued at about $38,000. Finally, Farther Finance Advisors LLC grew its holdings in Tetra Tech by 79.9% in the 2nd quarter. Farther Finance Advisors LLC now owns 241 shares of the industrial products company’s stock valued at $39,000 after buying an additional 107 shares during the period. Institutional investors and hedge funds own 93.89% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Steven M. Burdick sold 7,128 shares of the stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $165.01, for a total transaction of $1,176,191.28. Following the transaction, the chief financial officer now owns 37,405 shares of the company’s stock, valued at $6,172,199.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Steven M. Burdick sold 7,515 shares of Tetra Tech stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $175.67, for a total value of $1,320,160.05. Following the sale, the chief financial officer now directly owns 29,890 shares in the company, valued at approximately $5,250,776.30. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Steven M. Burdick sold 7,128 shares of the company’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $165.01, for a total transaction of $1,176,191.28. Following the completion of the transaction, the chief financial officer now owns 37,405 shares of the company’s stock, valued at approximately $6,172,199.05. The disclosure for this sale can be found here. Insiders sold a total of 32,123 shares of company stock valued at $5,487,673 in the last ninety days. Corporate insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on TTEK. Royal Bank of Canada raised their target price on shares of Tetra Tech from $192.00 to $203.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. KeyCorp began coverage on Tetra Tech in a research report on Wednesday, January 10th. They issued an “overweight” rating and a $191.00 target price on the stock. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $197.25.

Tetra Tech Stock Up 1.5 %

Tetra Tech stock traded up $2.79 during midday trading on Friday, hitting $193.00. 276,840 shares of the company were exchanged, compared to its average volume of 235,928. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.25 and a quick ratio of 1.25. Tetra Tech, Inc. has a fifty-two week low of $132.29 and a fifty-two week high of $193.84. The company’s fifty day moving average price is $178.85 and its 200-day moving average price is $166.71. The company has a market cap of $10.33 billion, a PE ratio of 44.68 and a beta of 0.96.

Tetra Tech (NASDAQ:TTEK) last posted its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.05. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate 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 previous year, the business earned $1.34 EPS. On average, research analysts predict that Tetra Tech, Inc. will post 6.07 EPS for the current fiscal year.

Tetra Tech Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 27th. Shareholders of record on Wednesday, February 14th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Tuesday, February 13th. This represents a $1.04 dividend on an annualized basis and a yield of 0.54%. Tetra Tech’s dividend payout ratio (DPR) is 24.07%.

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.