UBS Asset Management Americas Inc. grew its position in Tetra Tech, Inc. (NASDAQ:TTEK) by 10.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 80,861 shares of the industrial products company’s stock after acquiring an additional 7,361 shares during the quarter. UBS Asset Management Americas Inc.’s holdings in Tetra Tech were worth $3,893,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Crossmark Global Holdings Inc. acquired a new position in shares of Tetra Tech in the third quarter worth about $774,000. Janney Montgomery Scott LLC acquired a new position in shares of Tetra Tech during the 3rd quarter worth about $330,000. Wells Fargo & Company MN raised its position in shares of Tetra Tech by 76.4% during the 3rd quarter. Wells Fargo & Company MN now owns 318,483 shares of the industrial products company’s stock worth $14,825,000 after purchasing an additional 137,887 shares during the last quarter. American International Group Inc. raised its position in shares of Tetra Tech by 5.6% during the 3rd quarter. American International Group Inc. now owns 45,220 shares of the industrial products company’s stock worth $2,105,000 after purchasing an additional 2,390 shares during the last quarter. Finally, Asset Management One Co. Ltd. acquired a new position in shares of Tetra Tech during the 3rd quarter worth about $6,270,000. Institutional investors and hedge funds own 87.25% of the company’s stock.
Several research analysts recently weighed in on TTEK shares. BidaskClub downgraded shares of Tetra Tech from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 9th. ValuEngine downgraded shares of Tetra Tech from a “buy” rating to a “hold” rating in a research report on Wednesday, December 20th. Zacks Investment Research downgraded shares of Tetra Tech from a “hold” rating to a “sell” rating in a research report on Thursday, January 11th. Finally, Canaccord Genuity restated a “buy” rating and set a $60.00 price target on shares of Tetra Tech in a research report on Thursday, February 1st. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Tetra Tech has a consensus rating of “Buy” and a consensus price target of $54.57.
Tetra Tech (NASDAQ:TTEK) last released its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $0.65 EPS for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.12. The company had revenue of $544.85 million during 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%. Tetra Tech’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.49 EPS. analysts forecast that Tetra Tech, Inc. will post 2.51 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 2nd. Shareholders of record on Wednesday, February 14th were issued a $0.10 dividend. The ex-dividend date was Tuesday, February 13th. This represents a $0.40 dividend on an annualized basis and a yield of 0.77%. Tetra Tech’s payout ratio is 16.74%.
In other Tetra Tech news, SVP Richard A. Lemmon sold 16,750 shares of the stock in a transaction dated Tuesday, March 6th. The shares were sold at an average price of $50.03, for a total value of $838,002.50. Following the completion of the sale, the senior vice president now owns 53,323 shares in the company, valued at approximately $2,667,749.69. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 completion of the sale, the senior vice president now owns 3,358 shares of the company’s stock, valued at approximately $169,377.52. The disclosure for this sale can be found here. In the last quarter, insiders sold 62,561 shares of company stock valued at $3,101,982. 3.40% of the stock is owned by insiders.
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About Tetra Tech
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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