Tetra Tech, Inc. (NASDAQ:TTEK) Position Trimmed by Thematics Asset Management

Thematics Asset Management trimmed its stake in Tetra Tech, Inc. (NASDAQ:TTEK) by 7.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 253,750 shares of the industrial products company’s stock after selling 20,000 shares during the quarter. Thematics Asset Management owned 0.09% of Tetra Tech worth $10,109,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the stock. New England Research & Management Inc. acquired a new stake in shares of Tetra Tech during the 4th quarter valued at $596,000. Nicola Wealth Management LTD. raised 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 worth $2,590,000 after acquiring an additional 17,500 shares in the last quarter. Lecap Asset Management Ltd. boosted its position in 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 purchasing an additional 18,635 shares during the last quarter. Y Intercept Hong Kong Ltd grew its stake in Tetra Tech by 53.3% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 39,150 shares of the industrial products company’s stock valued at $1,560,000 after purchasing an additional 13,606 shares in the last quarter. Finally, Perpetual Ltd increased 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 worth $8,567,000 after purchasing an additional 18,842 shares during the last quarter. 93.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on TTEK. Royal Bank of Canada set a $49.00 price target on Tetra Tech in a research note on Friday, January 31st. Maxim Group lowered shares of Tetra Tech from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. Finally, KeyCorp reduced their price objective on shares of Tetra Tech from $45.00 to $34.00 and set an “overweight” rating for the company in a research note on Wednesday. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $45.72.

Insider Buying and Selling at Tetra Tech

In other Tetra Tech news, Director Kirsten M. Volpi sold 10,116 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $34.33, for a total value of $347,282.28. Following the completion of the transaction, the director now owns 60,196 shares of the company’s stock, valued at $2,066,528.68. This represents a 14.39 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.40% of the company’s stock.

Tetra Tech Stock Performance

NASDAQ:TTEK opened at $30.22 on Friday. The firm has a market capitalization of $8.10 billion, a PE ratio of 31.74 and a beta of 0.89. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.53. Tetra Tech, Inc. has a 1 year low of $27.27 and a 1 year high of $51.20. The firm’s fifty day simple moving average is $29.63 and its 200 day simple moving average is $38.20.

Tetra Tech (NASDAQ:TTEK) last posted its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.35 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%. On average, sell-side analysts anticipate that Tetra Tech, Inc. will post 1.37 EPS for the current year.

Tetra Tech Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were paid a dividend of $0.058 per share. This represents a $0.23 annualized dividend and a yield of 0.77%. The ex-dividend date was Wednesday, February 12th. Tetra Tech’s payout ratio is currently 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.