Natixis Investment Managers International grew its position in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 36.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,582 shares of the industrial products company’s stock after acquiring an additional 420 shares during the quarter. Natixis Investment Managers International’s holdings in Tetra Tech were worth $193,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently bought and sold shares of TTEK. TimesSquare Capital Management LLC purchased a new position in Tetra Tech during the 2nd quarter worth $29,983,000. Goldman Sachs Group Inc. boosted its holdings in Tetra Tech by 149.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 381,588 shares of the industrial products company’s stock worth $51,790,000 after acquiring an additional 228,916 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in Tetra Tech by 7.2% during the 2nd quarter. Alliancebernstein L.P. now owns 2,359,726 shares of the industrial products company’s stock worth $287,981,000 after acquiring an additional 157,847 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Tetra Tech by 15.0% during the 1st quarter. Geode Capital Management LLC now owns 982,625 shares of the industrial products company’s stock worth $133,361,000 after acquiring an additional 128,217 shares during the last quarter. Finally, Neuberger Berman Group LLC boosted its holdings in Tetra Tech by 6.3% during the 1st quarter. Neuberger Berman Group LLC now owns 1,994,955 shares of the industrial products company’s stock worth $269,863,000 after acquiring an additional 117,699 shares during the last quarter. 83.25% of the stock is currently owned by hedge funds and other institutional investors.
Tetra Tech stock traded up $1.05 during midday trading on Thursday, reaching $160.85. The stock had a trading volume of 199 shares, compared to its average volume of 278,498. Tetra Tech, Inc. has a 12 month low of $99.66 and a 12 month high of $160.61. The firm’s 50-day moving average price is $145.81 and its 200 day moving average price is $133.19. The firm has a market capitalization of $8.70 billion, a PE ratio of 44.89, a P/E/G ratio of 2.64 and a beta of 0.82. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.20.
The business also recently declared a quarterly dividend, which was paid on Friday, September 3rd. Stockholders of record on Friday, August 20th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend was Thursday, August 19th. Tetra Tech’s dividend payout ratio is presently 24.54%.
Tetra Tech announced that its board has authorized a stock repurchase program on Thursday, October 7th that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the industrial products company to repurchase up to 4.7% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
Separately, Zacks Investment Research downgraded shares of Tetra Tech from a “buy” rating to a “hold” rating and set a $149.00 price objective on the stock. in a report on Friday, August 13th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Tetra Tech presently has a consensus rating of “Buy” and a consensus target price of $142.80.
In other news, SVP Bernard Teufele sold 860 shares of the business’s stock in a transaction dated Wednesday, August 11th. The stock was sold at an average price of $138.42, for a total transaction of $119,041.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director J Christopher Lewis sold 850 shares of the business’s stock in a transaction dated Monday, August 30th. The stock was sold at an average price of $143.11, for a total value of $121,643.50. Following the transaction, the director now directly owns 68,626 shares of the company’s stock, valued at approximately $9,821,066.86. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,066 shares of company stock worth $2,395,443. Company insiders own 1.65% of the company’s stock.
About Tetra Tech
Tetra Tech, Inc engages in the provision of consulting and engineering services. It operates through the following segments: Government Services Group (GSG); Commercial and International Services Group (CIG); and Remediation and Construction Management (RCM). The GSG segment offers consulting and engineering services primarily to United States government clients such as federal, state and local, and development agencies worldwide.
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