New York Life Investment Management LLC Sells 2,434 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

New York Life Investment Management LLC trimmed its position in Tetra Tech, Inc. (NASDAQ:TTEK) by 7.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 28,294 shares of the industrial products company’s stock after selling 2,434 shares during the quarter. New York Life Investment Management LLC’s holdings in Tetra Tech were worth $1,127,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in TTEK. Geode Capital Management LLC grew its stake in shares of Tetra Tech by 406.6% during the third quarter. Geode Capital Management LLC now owns 4,716,080 shares of the industrial products company’s stock worth $222,466,000 after buying an additional 3,785,189 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Tetra Tech by 357.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,070,483 shares of the industrial products company’s stock worth $97,644,000 after buying an additional 1,618,211 shares during the last quarter. Premier Fund Managers Ltd grew its stake in shares of Tetra Tech by 400.0% during the third quarter. Premier Fund Managers Ltd now owns 1,500,000 shares of the industrial products company’s stock worth $69,615,000 after buying an additional 1,200,000 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc grew its stake in shares of Tetra Tech by 337.0% during the third quarter. AEGON ASSET MANAGEMENT UK Plc now owns 1,466,385 shares of the industrial products company’s stock worth $69,081,000 after buying an additional 1,130,842 shares during the last quarter. Finally, WCM Investment Management LLC grew its stake in shares of Tetra Tech by 316.9% during the third quarter. WCM Investment Management LLC now owns 1,431,099 shares of the industrial products company’s stock worth $66,403,000 after buying an additional 1,087,819 shares during the last quarter. 93.89% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

TTEK has been the topic of a number of research reports. KeyCorp decreased their target price on shares of Tetra Tech from $49.00 to $45.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. StockNews.com cut shares of Tetra Tech from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Robert W. Baird boosted their target price on shares of Tetra Tech from $46.00 to $47.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Royal Bank of Canada set a $49.00 price target on shares of Tetra Tech in a report on Friday, January 31st. Finally, Maxim Group lowered shares of Tetra Tech from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Three 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, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $47.92.

Tetra Tech Price Performance

Shares of NASDAQ:TTEK opened at $28.26 on Tuesday. The firm has a market cap of $7.57 billion, a PE ratio of 29.68 and a beta of 0.89. The firm’s fifty day moving average is $36.62 and its 200-day moving average is $42.60. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.29 and a current ratio of 1.29. Tetra Tech, Inc. has a 52 week low of $28.17 and a 52 week high of $51.20.

Tetra Tech (NASDAQ:TTEK) last released its earnings results on Wednesday, January 29th. The industrial products company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.01. Tetra Tech had a net margin of 4.81% and a return on equity of 22.58%. Sell-side analysts predict that Tetra Tech, Inc. will post 1.37 earnings per share for the current year.

Tetra Tech Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were issued a $0.058 dividend. The ex-dividend date was Wednesday, February 12th. This represents a $0.23 annualized dividend and a yield of 0.82%. Tetra Tech’s payout ratio is 24.21%.

Insider Activity at Tetra Tech

In related news, Director Kirsten M. Volpi sold 10,116 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $34.33, for a total value of $347,282.28. Following the transaction, the director now owns 60,196 shares in the company, valued at $2,066,528.68. The trade was a 14.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.40% of the stock is owned by company insiders.

Tetra Tech 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.