BidaskClub upgraded shares of Tetra Tech (NASDAQ:TTEK) from a sell rating to a hold rating in a report released on Friday morning.
TTEK has been the subject of a number of other reports. ValuEngine lowered Tetra Tech from a buy rating to a hold rating in a report on Wednesday, December 20th. Zacks Investment Research lowered Tetra Tech from a hold rating to a sell rating in a report on Friday, November 10th. Robert W. Baird upped their target price on Tetra Tech from $47.00 to $52.00 and gave the company a neutral rating in a report on Friday, November 10th. Boenning Scattergood reaffirmed a buy rating and issued a $54.00 target price on shares of Tetra Tech in a report on Thursday, November 9th. Finally, Canaccord Genuity reaffirmed a buy rating and issued a $60.00 target price on shares of Tetra Tech in a report on Thursday, February 1st. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Tetra Tech currently has an average rating of Buy and an average price target of $54.57.
Shares of Tetra Tech (NASDAQ TTEK) opened at $50.25 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.25 and a current ratio of 2.25. The company has a market capitalization of $2,806.50, a P/E ratio of 21.03, a price-to-earnings-growth ratio of 1.46 and a beta of 1.02. Tetra Tech has a twelve month low of $38.85 and a twelve month high of $53.40.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Wednesday, February 14th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.80%. The ex-dividend date is Tuesday, February 13th. Tetra Tech’s dividend payout ratio is presently 16.74%.
In other news, SVP William R. Brownlie sold 12,713 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $50.36, for a total value of $640,226.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Dan L. Batrack sold 32,165 shares of the company’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $48.70, for a total value of $1,566,435.50. Following the completion of the transaction, the chairman now directly owns 286,533 shares of the company’s stock, valued at $13,954,157.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 201,344 shares of company stock valued at $9,825,914. 3.40% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in TTEK. Millennium Management LLC grew its holdings in Tetra Tech by 833.1% during the fourth quarter. Millennium Management LLC now owns 236,558 shares of the industrial products company’s stock valued at $11,390,000 after purchasing an additional 211,205 shares during the period. Assenagon Asset Management S.A. bought a new position in Tetra Tech during the fourth quarter valued at $8,213,000. Amundi Pioneer Asset Management Inc. bought a new position in Tetra Tech during the fourth quarter valued at $7,546,000. Allianz Asset Management GmbH grew its holdings in Tetra Tech by 35.5% during the third quarter. Allianz Asset Management GmbH now owns 582,449 shares of the industrial products company’s stock valued at $27,113,000 after purchasing an additional 152,695 shares during the period. Finally, Wells Fargo & Company MN grew its holdings in Tetra Tech by 76.4% during the third quarter. Wells Fargo & Company MN now owns 318,483 shares of the industrial products company’s stock valued at $14,825,000 after purchasing an additional 137,887 shares during the period. 82.60% of the stock is owned by institutional investors and hedge funds.
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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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