Duff & Phelps Investment Management Co. Sells 19,166 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

Duff & Phelps Investment Management Co. trimmed its position in Tetra Tech, Inc. (NASDAQ:TTEK) by 10.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 159,834 shares of the industrial products company’s stock after selling 19,166 shares during the period. Duff & Phelps Investment Management Co. owned approximately 0.30% of Tetra Tech worth $26,681,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Contravisory Investment Management Inc. acquired a new stake in shares of Tetra Tech in the fourth quarter valued at about $26,000. Millburn Ridgefield Corp acquired a new position in shares of Tetra Tech in the 3rd quarter worth approximately $37,000. GAMMA Investing LLC acquired a new stake in Tetra Tech during the 4th quarter worth approximately $38,000. McGlone Suttner Wealth Management Inc. acquired a new stake in Tetra Tech during the 4th quarter worth approximately $89,000. Finally, Fifth Third Bancorp increased its position in shares of Tetra Tech by 39.1% in the 3rd quarter. Fifth Third Bancorp now owns 718 shares of the industrial products company’s stock valued at $109,000 after purchasing an additional 202 shares during the last quarter. Hedge funds and other institutional investors own 93.89% of the company’s stock.

Analyst Ratings Changes

TTEK has been the topic of several research reports. Maxim Group raised their price objective on shares of Tetra Tech from $220.00 to $230.00 and gave the stock a “buy” rating in a research report on Tuesday. KeyCorp assumed coverage on shares of Tetra Tech in a research note on Wednesday, January 10th. They issued an “overweight” rating and a $191.00 price objective for the company. Finally, Royal Bank of Canada raised their target price on shares of Tetra Tech from $192.00 to $203.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $201.00.

Tetra Tech Stock Up 1.0 %

Shares of TTEK stock traded up $1.86 during trading on Tuesday, hitting $195.06. 134,325 shares of the company were exchanged, compared to its average volume of 259,871. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.25 and a current ratio of 1.25. Tetra Tech, Inc. has a twelve month low of $132.29 and a twelve month high of $196.30. The business’s 50-day simple moving average is $184.83 and its 200 day simple moving average is $170.68. The firm has a market capitalization of $10.44 billion, a price-to-earnings ratio of 45.24 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 net margin of 4.77% and a return on equity of 21.05%. During the same quarter in the previous year, the firm posted $1.34 EPS. As a group, analysts forecast that Tetra Tech, Inc. will post 6.07 EPS for the current fiscal year.

Insider Buying and Selling at Tetra Tech

In other news, Director J Kenneth Thompson sold 8,400 shares of the firm’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $165.00, for a total value of $1,386,000.00. Following the transaction, the director now owns 14,485 shares of the company’s stock, valued at approximately $2,390,025. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Steven M. Burdick sold 7,128 shares of the firm’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $165.01, for a total value of $1,176,191.28. Following the completion of the sale, the chief financial officer now directly owns 37,405 shares in the company, valued at approximately $6,172,199.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director J Kenneth Thompson sold 8,400 shares of Tetra Tech stock in a transaction on Monday, February 5th. The stock was sold at an average price of $165.00, for a total transaction of $1,386,000.00. Following the transaction, the director now directly owns 14,485 shares of the company’s stock, valued at $2,390,025. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,123 shares of company stock worth $5,487,673. 0.61% of the stock is currently owned by corporate 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.