Comerica Bank reduced its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK – Get Rating) by 4.0% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 25,444 shares of the industrial products company’s stock after selling 1,065 shares during the period. Comerica Bank’s holdings in Tetra Tech were worth $3,416,000 as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. Yousif Capital Management LLC grew its holdings in shares of Tetra Tech by 3.9% in the second quarter. Yousif Capital Management LLC now owns 30,201 shares of the industrial products company’s stock valued at $4,124,000 after acquiring an additional 1,145 shares in the last quarter. Duality Advisers LP grew its holdings in shares of Tetra Tech by 46.2% in the second quarter. Duality Advisers LP now owns 8,411 shares of the industrial products company’s stock valued at $1,149,000 after acquiring an additional 2,658 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Tetra Tech in the second quarter valued at approximately $36,885,000. Lazard Asset Management LLC grew its holdings in shares of Tetra Tech by 51.3% in the second quarter. Lazard Asset Management LLC now owns 45,481 shares of the industrial products company’s stock valued at $6,209,000 after acquiring an additional 15,422 shares in the last quarter. Finally, Illinois Municipal Retirement Fund purchased a new position in Tetra Tech in the second quarter valued at approximately $495,000. 85.28% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several equities analysts recently commented on the company. 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.
Tetra Tech Trading Up 2.0 %
NASDAQ:TTEK opened at $148.56 on Monday. The company has a market cap of $7.87 billion, a P/E ratio of 30.51 and a beta of 0.93. The stock’s fifty day moving average price is $149.75 and its two-hundred day moving average price is $142.16. Tetra Tech, Inc. has a 1 year low of $118.55 and a 1 year high of $169.95. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.26 and a quick ratio of 1.26.
Tetra Tech (NASDAQ:TTEK – Get Rating) last posted its earnings results on Wednesday, November 9th. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.09. The firm had revenue of $736.10 million for the quarter, compared to the consensus estimate of $712.86 million. Tetra Tech had a return on equity of 20.02% and a net margin of 7.51%. The business’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.05 earnings per share. As a group, analysts expect that Tetra Tech, Inc. will post 4.84 EPS for the current year.
Tetra Tech Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 9th. Investors of record on Monday, November 21st were given a $0.23 dividend. The ex-dividend date of this dividend was Friday, November 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.62%. Tetra Tech’s dividend payout ratio (DPR) is presently 18.89%.
Insider Buying and Selling
In related news, Director Kirsten M. Volpi sold 700 shares of the stock in a transaction on Tuesday, December 6th. The stock was sold at an average price of $154.61, for a total value of $108,227.00. Following the sale, the director now owns 12,603 shares in the company, valued at $1,948,549.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, SVP Roger R. Argus sold 4,115 shares of the stock in a transaction on Wednesday, November 23rd. The stock was sold at an average price of $153.67, for a total value of $632,352.05. Following the transaction, the senior vice president now owns 2,081 shares of the company’s stock, valued at $319,787.27. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kirsten M. Volpi sold 700 shares of the stock in a transaction on Tuesday, December 6th. The shares were sold at an average price of $154.61, for a total value of $108,227.00. Following the completion of the transaction, the director now directly owns 12,603 shares in the company, valued at approximately $1,948,549.83. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 58,580 shares of company stock worth $9,093,178. Corporate insiders own 1.20% of the company’s stock.
Tetra Tech Profile
Tetra Tech, Inc provides consulting and engineering services worldwide. The company operates through two segments Government Services Group (GSG) and Commercial/International Services Group (CIG). The GSG segment offers early data collection and monitoring, data analysis and information management, science and engineering applied research, engineering design, project 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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