Pinebridge Investments L.P. reduced its stake in Tetra Tech, Inc. (NASDAQ:TTEK) by 12.7% during the 4th quarter, Holdings Channel reports. The firm owned 17,859 shares of the industrial products company’s stock after selling 2,594 shares during the period. Pinebridge Investments L.P.’s holdings in Tetra Tech were worth $860,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors also recently added to or reduced their stakes in TTEK. Assenagon Asset Management S.A. acquired a new position in shares of Tetra Tech in the fourth quarter valued at about $8,213,000. Allianz Asset Management GmbH grew its stake in shares of Tetra Tech by 35.5% in 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 acquiring an additional 152,695 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of Tetra Tech by 76.4% in 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 acquiring an additional 137,887 shares in the last quarter. Asset Management One Co. Ltd. acquired a new position in shares of Tetra Tech in the third quarter valued at about $6,270,000. Finally, KAMES CAPITAL plc grew its stake in shares of Tetra Tech by 7.3% in the fourth quarter. KAMES CAPITAL plc now owns 1,209,670 shares of the industrial products company’s stock valued at $58,185,000 after acquiring an additional 82,147 shares in the last quarter. Hedge funds and other institutional investors own 82.60% of the company’s stock.
Several research firms recently commented on TTEK. Canaccord Genuity restated a “buy” rating and issued a $60.00 price target on shares of Tetra Tech in a research note on Thursday, February 1st. Zacks Investment Research upgraded shares of Tetra Tech from a “hold” rating to a “buy” rating and set a $59.00 price target on the stock in a research note on Friday, February 2nd. BidaskClub upgraded shares of Tetra Tech from a “sell” rating to a “hold” rating in a research note on Friday, February 23rd. Robert W. Baird upped their price target on shares of Tetra Tech from $47.00 to $52.00 and gave the company a “neutral” rating in a research note on Friday, November 10th. Finally, ValuEngine downgraded shares of Tetra Tech from a “buy” rating to a “hold” rating in a research note on Wednesday, December 20th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $54.57.
Tetra Tech (NASDAQ:TTEK) last announced its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.12. The firm had revenue of $544.85 million for the quarter, compared to the consensus estimate of $510.22 million. Tetra Tech had a net margin of 4.83% and a return on equity of 14.26%. The business’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.49 earnings per share. equities analysts predict that Tetra Tech, Inc. will post 2.55 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 2nd. Shareholders of record on Wednesday, February 14th will be paid a dividend of $0.10 per share. The ex-dividend date is Tuesday, February 13th. This represents a $0.40 dividend on an annualized basis and a yield of 0.81%. Tetra Tech’s payout ratio is 18.02%.
In other Tetra Tech news, SVP Mark A. Rynning sold 660 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $50.44, for a total transaction of $33,290.40. Following the sale, the senior vice president now directly owns 3,358 shares in the company, valued at $169,377.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Patrick C. Haden sold 4,401 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $50.16, for a total transaction of $220,754.16. Following the sale, the director now owns 9,680 shares in the company, valued at $485,548.80. The disclosure for this sale can be found here. Insiders have sold 194,584 shares of company stock worth $9,488,788 over the last quarter. Corporate insiders own 3.40% of the company’s stock.
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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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