Prime Capital Investment Advisors LLC purchased a new position in shares of Tetra Tech, Inc. (NASDAQ:TTEK) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,300 shares of the industrial products company’s stock, valued at approximately $111,000.
Other institutional investors have also made changes to their positions in the company. Advisor Group Inc. lifted its holdings in Tetra Tech by 27.6% in the 4th quarter. Advisor Group Inc. now owns 5,952 shares of the industrial products company’s stock worth $286,000 after buying an additional 1,286 shares in the last quarter. BlueCrest Capital Management Ltd lifted its holdings in Tetra Tech by 112.8% in the 4th quarter. BlueCrest Capital Management Ltd now owns 20,052 shares of the industrial products company’s stock worth $966,000 after buying an additional 10,629 shares in the last quarter. Profund Advisors LLC lifted its holdings in Tetra Tech by 18.7% in the 4th quarter. Profund Advisors LLC now owns 9,488 shares of the industrial products company’s stock worth $457,000 after buying an additional 1,492 shares in the last quarter. Koch Industries Inc. acquired a new position in Tetra Tech in the 4th quarter worth $279,000. Finally, Amundi Pioneer Asset Management Inc. acquired a new position in Tetra Tech in the 4th quarter worth $7,546,000. 82.71% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have commented on TTEK. ValuEngine upgraded shares of Tetra Tech from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. BidaskClub upgraded shares of Tetra Tech from a “sell” rating to a “hold” rating in a report on Friday, February 23rd. Zacks Investment Research upgraded shares of Tetra Tech from a “hold” rating to a “buy” rating and set a $59.00 price objective on the stock in a report on Friday, February 2nd. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $60.00 price objective on shares of Tetra Tech in a report on Thursday, February 1st. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $54.57.
Tetra Tech (NASDAQ:TTEK) last issued its earnings results on Wednesday, January 31st. The industrial products company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.12. The business had revenue of $544.85 million for the quarter, compared to analyst estimates of $510.22 million. Tetra Tech had a net margin of 4.83% and a return on equity of 14.26%. The company’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.49 EPS. sell-side analysts forecast that Tetra Tech, Inc. will post 2.51 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, March 2nd. Stockholders of record on Wednesday, February 14th were paid a $0.10 dividend. The ex-dividend date was Tuesday, February 13th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.76%. Tetra Tech’s dividend payout ratio (DPR) is presently 16.74%.
In other news, Chairman Dan L. Batrack sold 62,417 shares of the company’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $48.47, for a total value of $3,025,351.99. Following the sale, the chairman now owns 318,994 shares in the company, valued at approximately $15,461,639.18. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP William R. Brownlie sold 12,713 shares of the company’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $50.36, for a total transaction of $640,226.68. The disclosure for this sale can be found here. In the last 90 days, insiders sold 135,852 shares of company stock worth $6,652,983. Company insiders own 3.40% of the company’s stock.
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Tetra Tech 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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