Zacks Investment Management Cuts Stock Position in Tetra Tech, Inc. (NASDAQ:TTEK)

Zacks Investment Management trimmed its stake in Tetra Tech, Inc. (NASDAQ:TTEK) by 14.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 465,400 shares of the industrial products company’s stock after selling 80,293 shares during the quarter. Zacks Investment Management owned 0.17% of Tetra Tech worth $18,542,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. New England Research & Management Inc. bought a new position in Tetra Tech in the 4th quarter worth about $596,000. Nicola Wealth Management LTD. grew its holdings in shares of Tetra Tech by 36.8% during the fourth quarter. Nicola Wealth Management LTD. now owns 65,000 shares of the industrial products company’s stock valued at $2,590,000 after buying an additional 17,500 shares during the last quarter. Lecap Asset Management Ltd. increased its position in shares of Tetra Tech by 71.3% during the fourth quarter. Lecap Asset Management Ltd. now owns 44,769 shares of the industrial products company’s stock valued at $1,784,000 after acquiring an additional 18,635 shares in the last quarter. Y Intercept Hong Kong Ltd raised its holdings in Tetra Tech by 53.3% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 39,150 shares of the industrial products company’s stock worth $1,560,000 after acquiring an additional 13,606 shares during the last quarter. Finally, Perpetual Ltd lifted its position in Tetra Tech by 9.6% in the 4th quarter. Perpetual Ltd now owns 215,042 shares of the industrial products company’s stock valued at $8,567,000 after acquiring an additional 18,842 shares in the last quarter. 93.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Royal Bank of Canada set a $49.00 target price on Tetra Tech in a 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, KeyCorp lowered their target price on shares of Tetra Tech from $45.00 to $34.00 and set an “overweight” rating on the stock in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $45.72.

Tetra Tech Stock Down 0.4 %

Tetra Tech stock opened at $29.85 on Thursday. Tetra Tech, Inc. has a one year low of $27.27 and a one year high of $51.20. The stock has a fifty day moving average of $29.80 and a 200 day moving average of $38.55. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.29 and a current ratio of 1.29. The stock has a market cap of $8.00 billion, a PE ratio of 31.36 and a beta of 0.89.

Tetra Tech (NASDAQ:TTEK) last released its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $0.35 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%. As a group, sell-side analysts predict that Tetra Tech, Inc. will post 1.37 EPS for the current year.

Tetra Tech Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were given a dividend of $0.058 per share. This represents a $0.23 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date was Wednesday, February 12th. Tetra Tech’s payout ratio is 24.21%.

Insider Transactions at Tetra Tech

In other Tetra Tech news, Director Kirsten M. Volpi sold 10,116 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $34.33, for a total transaction of $347,282.28. Following the completion of the sale, the director now owns 60,196 shares of the company’s stock, valued at approximately $2,066,528.68. The trade was a 14.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.40% of the stock is currently 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.