Driehaus Capital Management LLC Sells 204,185 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

Driehaus Capital Management LLC reduced its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 11.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,603,928 shares of the industrial products company’s stock after selling 204,185 shares during the quarter. Driehaus Capital Management LLC owned about 0.60% of Tetra Tech worth $63,900,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of TTEK. R Squared Ltd bought a new stake in shares of Tetra Tech during the fourth quarter worth $39,000. Asset Planning Inc acquired a new position in shares of Tetra Tech during the 4th quarter worth about $40,000. Jones Financial Companies Lllp lifted its stake in Tetra Tech by 98.0% in the 4th quarter. Jones Financial Companies Lllp now owns 1,000 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 495 shares during the last quarter. Caption Management LLC acquired a new position in Tetra Tech during the fourth quarter worth approximately $40,000. Finally, Blue Trust Inc. increased its holdings in shares of Tetra Tech by 235.8% during the 4th quarter. Blue Trust Inc. now owns 1,444 shares of the industrial products company’s stock worth $58,000 after acquiring an additional 1,014 shares during the last quarter. 93.89% of the stock is currently owned by institutional investors and hedge funds.

Tetra Tech Stock Up 1.0 %

TTEK stock opened at $30.88 on Thursday. The stock has a market capitalization of $8.28 billion, a P/E ratio of 32.44 and a beta of 0.92. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.53. The firm has a 50-day moving average price of $29.81 and a 200-day moving average price of $36.66. Tetra Tech, Inc. has a 12 month low of $27.27 and a 12 month high of $51.20.

Tetra Tech (NASDAQ:TTEK) last released its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.02. Tetra Tech had a net margin of 4.81% and a return on equity of 22.58%. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter last year, the firm earned $0.28 earnings per share. The company’s revenue for the quarter was up 25.9% on a year-over-year basis. As a group, equities research analysts anticipate that Tetra Tech, Inc. will post 1.37 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on TTEK. Maxim Group lowered Tetra Tech from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. KeyCorp reduced their target price on shares of Tetra Tech from $45.00 to $34.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. Finally, Royal Bank of Canada set a $49.00 target price on shares of Tetra Tech in a research report on Friday, January 31st. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $45.90.

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.