New York State Common Retirement Fund Reduces Stock Position in Tetra Tech, Inc. (NASDAQ:TTEK)

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New York State Common Retirement Fund cut its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 1.3% in the third quarter, Holdings Channel.com reports. The institutional investor owned 110,534 shares of the industrial products company’s stock after selling 1,400 shares during the quarter. New York State Common Retirement Fund’s holdings in Tetra Tech were worth $10,556,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. NEXT Financial Group Inc purchased a new position in shares of Tetra Tech in the 3rd quarter worth $39,000. Harbor Investment Advisory LLC raised its position in Tetra Tech by 77.1% in the third quarter. Harbor Investment Advisory LLC now owns 611 shares of the industrial products company’s stock worth $58,000 after acquiring an additional 266 shares during the period. Private Advisor Group LLC bought a new position in Tetra Tech in the 2nd quarter worth $71,000. Keebeck Wealth Management LLC purchased a new position in shares of Tetra Tech during the 2nd quarter valued at about $79,000. Finally, Canada Pension Plan Investment Board bought a new position in shares of Tetra Tech in the second quarter worth approximately $95,000. 82.74% of the stock is currently owned by hedge funds and other institutional investors.

In other Tetra Tech news, SVP Roger R. Argus sold 4,164 shares of the business’s stock in a transaction that occurred on Thursday, November 19th. The stock was sold at an average price of $120.98, for a total transaction of $503,760.72. Following the completion of the transaction, the senior vice president now owns 3,711 shares in the company, valued at $448,956.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Dan L. Batrack sold 59,112 shares of the company’s stock in a transaction that occurred on Wednesday, November 18th. The shares were sold at an average price of $123.76, for a total value of $7,315,701.12. Following the transaction, the chief executive officer now directly owns 265,870 shares in the company, valued at approximately $32,904,071.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 108,196 shares of company stock valued at $12,695,938. 1.97% of the stock is owned by corporate insiders.

A number of equities research analysts have commented on TTEK shares. Stifel Nicolaus raised Tetra Tech from a “hold” rating to a “buy” rating and raised their price target for the company from $86.00 to $125.00 in a report on Monday, November 9th. Maxim Group increased their price objective on shares of Tetra Tech from $110.00 to $135.00 in a report on Thursday, November 12th. BidaskClub raised shares of Tetra Tech from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 7th. Roth Capital lifted their price target on shares of Tetra Tech from $85.00 to $98.00 and gave the company a “buy” rating in a report on Monday, August 3rd. Finally, Zacks Investment Research downgraded shares of Tetra Tech from a “buy” rating to a “hold” rating and set a $100.00 price objective for the company. in a report on Wednesday, September 30th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Tetra Tech presently has an average rating of “Buy” and an average price target of $110.33.

TTEK opened at $121.65 on Friday. The stock has a 50-day moving average of $107.81 and a 200 day moving average of $89.75. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.27. Tetra Tech, Inc. has a 12 month low of $63.61 and a 12 month high of $127.19. The firm has a market cap of $6.56 billion, a P/E ratio of 47.71, a P/E/G ratio of 2.08 and a beta of 0.85.

Tetra Tech (NASDAQ:TTEK) last announced its earnings results on Wednesday, November 11th. The industrial products company reported $0.91 EPS for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.10. Tetra Tech had a return on equity of 18.03% and a net margin of 4.56%. The firm had revenue of $589.81 million during the quarter, compared to analysts’ expectations of $589.86 million. During the same quarter in the previous year, the business earned $0.88 EPS. The company’s quarterly revenue was down 6.0% on a year-over-year basis. On average, research analysts forecast that Tetra Tech, Inc. will post 3.17 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Monday, November 30th will be issued a $0.17 dividend. The ex-dividend date is Friday, November 27th. This represents a $0.68 annualized dividend and a dividend yield of 0.56%. Tetra Tech’s dividend payout ratio (DPR) is presently 21.45%.

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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Institutional Ownership by Quarter for Tetra Tech (NASDAQ:TTEK)

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