Chevy Chase Trust Holdings LLC Makes New Investment in Tetra Tech, Inc. (NASDAQ:TTEK)

Chevy Chase Trust Holdings LLC purchased a new position in shares of Tetra Tech, Inc. (NASDAQ:TTEK – Get Rating) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 3,750 shares of the industrial products company’s stock, valued at approximately $482,000.

Other large investors have also recently bought and sold shares of the company. Brown Brothers Harriman & Co. acquired a new position in Tetra Tech during the 2nd quarter worth approximately $25,000. Private Trust Co. NA raised its stake in shares of Tetra Tech by 64.3% during the 3rd quarter. Private Trust Co. NA now owns 253 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 99 shares in the last quarter. Clear Investment Research LLC bought a new stake in shares of Tetra Tech during the 3rd quarter worth approximately $39,000. Quantbot Technologies LP bought a new stake in shares of Tetra Tech during the 2nd quarter worth approximately $39,000. Finally, Householder Group Estate & Retirement Specialist LLC bought a new stake in shares of Tetra Tech during the 3rd quarter worth approximately $40,000. Institutional investors and hedge funds own 85.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on TTEK shares. StockNews.com upgraded Tetra Tech from a “hold” rating to a “buy” rating in a research note on Saturday, December 17th. Maxim Group upped their price objective on Tetra Tech from $190.00 to $200.00 in a research note on Friday, November 11th.

Insider Buying and Selling at Tetra Tech

In other Tetra Tech news, CEO Dan L. Batrack sold 30,000 shares of the company’s stock in a transaction on Thursday, December 15th. The stock was sold at an average price of $153.63, for a total value of $4,608,900.00. Following the transaction, the chief executive officer now directly owns 48,487 shares of the company’s stock, valued at approximately $7,449,057.81. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director J Kenneth Thompson sold 3,500 shares of the stock in a transaction on Monday, November 14th. The stock was sold at an average price of $158.98, for a total transaction of $556,430.00. Following the sale, the director now directly owns 23,308 shares of the company’s stock, valued at approximately $3,705,505.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Dan L. Batrack sold 30,000 shares of the stock in a transaction on Thursday, December 15th. The stock was sold at an average price of $153.63, for a total value of $4,608,900.00. Following the sale, the chief executive officer now directly owns 48,487 shares in the company, valued at $7,449,057.81. The disclosure for this sale can be found here. Insiders have sold a total of 58,580 shares of company stock valued at $9,093,178 in the last ninety days. 0.76% of the stock is currently owned by corporate insiders.

Tetra Tech Stock Up 2.2 %

TTEK opened at $155.52 on Wednesday. Tetra Tech, Inc. has a 1-year low of $118.55 and a 1-year high of $169.95. The stock’s fifty day simple moving average is $149.40 and its 200 day simple moving average is $143.38. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.21. The stock has a market cap of $8.28 billion, a PE ratio of 31.93 and a beta of 0.93.

Tetra Tech (NASDAQ:TTEK – Get Rating) last posted its quarterly earnings results on Wednesday, November 9th. The industrial products company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.09. Tetra Tech had a return on equity of 20.02% and a net margin of 7.51%. The business had revenue of $736.10 million for the quarter, compared to analysts’ expectations of $712.86 million. During the same quarter in the prior year, the business earned $1.05 EPS. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. As a group, research analysts expect that Tetra Tech, Inc. will post 4.84 earnings per share for the current year.

Tetra Tech Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 9th. Shareholders of record on Monday, November 21st were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend was Friday, November 18th. Tetra Tech’s dividend payout ratio is 18.89%.

Tetra Tech Profile

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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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