Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Tetra Tech, Inc. (NASDAQ:TTEK) by 7.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,722 shares of the industrial products company’s stock after purchasing an additional 687 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Tetra Tech were worth $687,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in TTEK. Norges Bank purchased a new stake in Tetra Tech in the 4th quarter valued at approximately $160,609,000. Redwood Investments LLC purchased a new stake in Tetra Tech in the 1st quarter valued at approximately $12,681,000. FMR LLC boosted its holdings in Tetra Tech by 18.8% in the 4th quarter. FMR LLC now owns 1,040,288 shares of the industrial products company’s stock valued at $89,631,000 after purchasing an additional 164,272 shares in the last quarter. Pictet Asset Management Ltd. boosted its holdings in Tetra Tech by 39.2% in the 4th quarter. Pictet Asset Management Ltd. now owns 566,951 shares of the industrial products company’s stock valued at $48,848,000 after purchasing an additional 159,684 shares in the last quarter. Finally, FIL Ltd boosted its holdings in Tetra Tech by 53.1% in the 4th quarter. FIL Ltd now owns 264,305 shares of the industrial products company’s stock valued at $22,773,000 after purchasing an additional 91,654 shares in the last quarter. 81.83% of the stock is currently owned by institutional investors.
A number of equities research analysts have recently issued reports on TTEK shares. Sidoti reduced their price target on shares of Tetra Tech from $108.00 to $104.00 and set a “buy” rating for the company in a research report on Monday, March 16th. Zacks Investment Research downgraded shares of Tetra Tech from a “hold” rating to a “sell” rating and set a $81.00 price target for the company. in a research report on Wednesday, April 8th. Boenning Scattergood downgraded shares of Tetra Tech from an “outperform” rating to a “neutral” rating in a research report on Monday, March 23rd. Stifel Nicolaus reduced their price target on shares of Tetra Tech from $92.00 to $72.00 and set a “hold” rating for the company in a research report on Thursday, April 2nd. Finally, BidaskClub upgraded shares of Tetra Tech from a “buy” rating to a “strong-buy” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $89.00.
Tetra Tech (NASDAQ:TTEK) last issued its quarterly earnings data on Wednesday, April 29th. The industrial products company reported $0.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.01. Tetra Tech had a return on equity of 18.64% and a net margin of 4.52%. The firm had revenue of $584.50 million during the quarter, compared to the consensus estimate of $599.79 million. During the same period in the previous year, the firm posted $0.70 EPS. The company’s quarterly revenue was down .2% compared to the same quarter last year. As a group, research analysts expect that Tetra Tech, Inc. will post 3.14 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Wednesday, May 13th will be paid a $0.17 dividend. This is a boost from Tetra Tech’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend is Tuesday, May 12th. Tetra Tech’s payout ratio is presently 21.45%.
In other Tetra Tech news, Director Hugh M. Grant sold 8,000 shares of Tetra Tech stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $95.00, for a total value of $760,000.00. Following the completion of the sale, the director now directly owns 32,331 shares of the company’s stock, valued at approximately $3,071,445. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kirsten M. Volpi sold 1,351 shares of Tetra Tech stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $70.56, for a total transaction of $95,326.56. Following the completion of the sale, the director now directly owns 18,208 shares of the company’s stock, valued at $1,284,756.48. The disclosure for this sale can be found here. 1.97% of the stock is currently owned by insiders.
About Tetra Tech
Tetra Tech, Inc provides consulting and engineering services worldwide. It operates through Government Services Group (GSG) and Commercial/International Services Group (CIG) segments. The GSG segment offers early data collection and monitoring, data analysis and information technology, science and engineering applied research, engineering design, construction 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.
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