New York State Common Retirement Fund Trims Stake in Tetra Tech, Inc. (NASDAQ:TTEK)

New York State Common Retirement Fund lowered its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 13.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 145,727 shares of the industrial products company’s stock after selling 23,138 shares during the period. New York State Common Retirement Fund’s holdings in Tetra Tech were worth $24,326,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Contravisory Investment Management Inc. bought a new stake in Tetra Tech during the fourth quarter worth about $26,000. Millburn Ridgefield Corp bought a new stake in Tetra Tech during the third quarter worth about $37,000. McGlone Suttner Wealth Management Inc. bought a new stake in Tetra Tech during the fourth quarter worth about $89,000. Fifth Third Bancorp boosted its stake in Tetra Tech by 39.1% during the third quarter. Fifth Third Bancorp now owns 718 shares of the industrial products company’s stock worth $109,000 after acquiring an additional 202 shares in the last quarter. Finally, GW Henssler & Associates Ltd. bought a new stake in Tetra Tech during the third quarter worth about $204,000. Hedge funds and other institutional investors own 93.89% of the company’s stock.

Tetra Tech Stock Down 0.2 %

Shares of Tetra Tech stock opened at $192.50 on Friday. The company has a market cap of $10.30 billion, a price-to-earnings ratio of 44.56 and a beta of 0.96. The company’s 50 day moving average is $184.29 and its 200 day moving average is $170.13. Tetra Tech, Inc. has a twelve month low of $132.29 and a twelve month high of $194.99. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.61.

Tetra Tech (NASDAQ:TTEK) last issued its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.05. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $974.00 million. Tetra Tech had a net margin of 4.77% and a return on equity of 21.05%. During the same quarter in the prior year, the firm earned $1.34 earnings per share. Research analysts anticipate that Tetra Tech, Inc. will post 6.07 EPS for the current year.

Tetra Tech Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 27th. Shareholders of record on Wednesday, February 14th were issued a dividend of $0.26 per share. The ex-dividend date was Tuesday, February 13th. This represents a $1.04 dividend on an annualized basis and a yield of 0.54%. Tetra Tech’s dividend payout ratio is currently 24.07%.

Wall Street Analysts Forecast Growth

TTEK has been the topic of several analyst reports. KeyCorp initiated coverage on shares of Tetra Tech in a research note on Wednesday, January 10th. They issued an “overweight” rating and a $191.00 target price on the stock. Royal Bank of Canada increased their price objective on shares of Tetra Tech from $192.00 to $203.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Tetra Tech currently has an average rating of “Moderate Buy” and a consensus price target of $197.25.

Insider Buying and Selling at Tetra Tech

In other Tetra Tech news, CFO Steven M. Burdick sold 7,128 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $165.01, for a total transaction of $1,176,191.28. Following the completion of the sale, the chief financial officer now directly owns 37,405 shares of the company’s stock, valued at $6,172,199.05. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Tetra Tech news, Director J Kenneth Thompson sold 3,500 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $177.24, for a total transaction of $620,340.00. Following the completion of the sale, the director now directly owns 10,985 shares of the company’s stock, valued at $1,946,981.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Steven M. Burdick sold 7,128 shares of the stock in a transaction on Monday, February 5th. The stock was sold at an average price of $165.01, for a total transaction of $1,176,191.28. Following the completion of the sale, the chief financial officer now directly owns 37,405 shares of the company’s stock, valued at $6,172,199.05. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,123 shares of company stock valued at $5,487,673. Insiders own 0.61% of the company’s stock.

Tetra Tech Company Profile

Tetra Tech, Inc provides consulting and engineering services in the United States and internationally. 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.