Tetra Tech, Inc. (NASDAQ:TTEK) Shares Sold by Quarry LP

Quarry LP lowered its holdings in Tetra Tech, Inc. (NASDAQ:TTEK) by 49.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,622 shares of the industrial products company’s stock after selling 2,561 shares during the quarter. Quarry LP’s holdings in Tetra Tech were worth $104,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in TTEK. Norges Bank purchased a new position in shares of Tetra Tech during the 4th quarter valued at about $121,390,000. Capital International Investors purchased a new position in Tetra Tech during the fourth quarter valued at approximately $43,895,000. King Luther Capital Management Corp lifted its holdings in Tetra Tech by 324.0% in the fourth quarter. King Luther Capital Management Corp now owns 1,278,295 shares of the industrial products company’s stock valued at $50,927,000 after acquiring an additional 976,810 shares during the period. Teacher Retirement System of Texas grew its stake in shares of Tetra Tech by 130.8% during the 4th quarter. Teacher Retirement System of Texas now owns 1,383,025 shares of the industrial products company’s stock worth $55,100,000 after purchasing an additional 783,736 shares during the period. Finally, Bessemer Group Inc. increased its holdings in shares of Tetra Tech by 924.3% during the 4th quarter. Bessemer Group Inc. now owns 815,939 shares of the industrial products company’s stock valued at $32,508,000 after purchasing an additional 736,279 shares in the last quarter. Hedge funds and other institutional investors own 93.89% of the company’s stock.

Tetra Tech Stock Up 0.2 %

Shares of TTEK opened at $31.27 on Wednesday. The stock has a 50 day moving average price of $29.67 and a 200 day moving average price of $37.33. Tetra Tech, Inc. has a one year low of $27.27 and a one year high of $51.20. 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 capitalization of $8.38 billion, a price-to-earnings ratio of 32.85 and a beta of 0.89.

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, topping analysts’ consensus estimates of $0.34 by $0.01. Tetra Tech had a net margin of 4.81% and a return on equity of 22.58%. Equities research analysts forecast that Tetra Tech, Inc. will post 1.37 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently commented on TTEK. Maxim Group lowered shares of Tetra Tech from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 4th. KeyCorp reduced their price target on Tetra Tech from $45.00 to $34.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Finally, Royal Bank of Canada set a $49.00 price target 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’s stock. Based on data from MarketBeat.com, Tetra Tech currently has an average rating of “Moderate Buy” and a consensus target price of $45.72.

Insider Buying and Selling

In other Tetra Tech news, Director Kirsten M. Volpi sold 10,116 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $34.33, for a total value of $347,282.28. Following the completion of the sale, the director now 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.40% of the stock is currently owned by company insiders.

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.