Martingale Asset Management L P Sells 413,224 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

Martingale Asset Management L P cut its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 87.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 57,537 shares of the industrial products company’s stock after selling 413,224 shares during the quarter. Martingale Asset Management L P’s holdings in Tetra Tech were worth $2,292,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. R Squared Ltd bought a new position in Tetra Tech during the 4th quarter worth $39,000. Asset Planning Inc acquired a new position in Tetra Tech in the fourth quarter valued at about $40,000. Jones Financial Companies Lllp lifted its holdings in shares of Tetra Tech by 98.0% during the 4th quarter. Jones Financial Companies Lllp now owns 1,000 shares of the industrial products company’s stock worth $40,000 after acquiring an additional 495 shares during the period. Blue Trust Inc. lifted its stake in Tetra Tech by 235.8% during the fourth quarter. Blue Trust Inc. now owns 1,444 shares of the industrial products company’s stock worth $58,000 after purchasing an additional 1,014 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. bought a new stake in shares of Tetra Tech during the 4th quarter worth $63,000. 93.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TTEK has been the subject of a number of research analyst reports. KeyCorp lowered their price objective on shares of Tetra Tech from $49.00 to $45.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Maxim Group lowered Tetra Tech from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 4th. Finally, Royal Bank of Canada set a $49.00 target price on Tetra Tech in a research report on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $47.92.

Insider Activity

In other Tetra Tech news, Director Kirsten M. Volpi sold 10,116 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $34.33, for a total transaction of $347,282.28. Following the transaction, the director now directly owns 60,196 shares in the company, valued at approximately $2,066,528.68. This represents a 14.39 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.40% of the stock is owned by company insiders.

Tetra Tech Stock Down 2.0 %

Shares of NASDAQ:TTEK opened at $29.26 on Friday. The firm has a market cap of $7.84 billion, a P/E ratio of 30.74 and a beta of 0.89. Tetra Tech, Inc. has a 12-month low of $27.27 and a 12-month high of $51.20. The business has a fifty day simple moving average of $30.03 and a 200 day simple moving average of $38.89. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.53.

Tetra Tech (NASDAQ:TTEK) last issued its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. Tetra Tech had a return on equity of 22.58% and a net margin of 4.81%. 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 0.79%. Tetra Tech’s payout ratio is 24.21%.

About Tetra Tech

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.