Tetra Tech, Inc. $TTEK Shares Purchased by Caitong International Asset Management Co. Ltd

Caitong International Asset Management Co. Ltd increased its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 283.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,547 shares of the industrial products company’s stock after acquiring an additional 1,144 shares during the quarter. Caitong International Asset Management Co. Ltd’s holdings in Tetra Tech were worth $45,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of TTEK. Brighton Jones LLC acquired a new stake in Tetra Tech during the fourth quarter worth about $225,000. Raymond James Financial Inc. acquired a new stake in Tetra Tech during the fourth quarter worth about $8,611,000. Mariner LLC grew its position in Tetra Tech by 116.6% in the 4th quarter. Mariner LLC now owns 37,959 shares of the industrial products company’s stock worth $1,512,000 after purchasing an additional 20,431 shares during the last quarter. Guggenheim Capital LLC bought a new position in Tetra Tech in the 4th quarter worth about $379,000. Finally, Marshall Wace LLP grew its position in Tetra Tech by 107.3% in the 4th quarter. Marshall Wace LLP now owns 45,927 shares of the industrial products company’s stock worth $1,830,000 after purchasing an additional 23,776 shares during the last quarter. Institutional investors and hedge funds own 93.89% of the company’s stock.

Tetra Tech Trading Down 0.2%

Tetra Tech stock opened at $35.80 on Monday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.18 and a current ratio of 1.18. The firm has a market cap of $9.41 billion, a price-to-earnings ratio of 44.75 and a beta of 0.92. Tetra Tech, Inc. has a 1 year low of $27.27 and a 1 year high of $51.20. The firm’s 50 day moving average price is $36.57 and its two-hundred day moving average price is $33.29.

Tetra Tech (NASDAQ:TTEK) last posted its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.06. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.15 billion. Tetra Tech had a net margin of 3.94% and a return on equity of 24.70%. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.59 earnings per share. On average, research analysts predict that Tetra Tech, Inc. will post 1.37 EPS for the current fiscal year.

Tetra Tech Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be given a $0.065 dividend. The ex-dividend date is Friday, August 15th. This represents a $0.26 annualized dividend and a yield of 0.7%. Tetra Tech’s payout ratio is 32.50%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on TTEK. Wall Street Zen upgraded shares of Tetra Tech from a “hold” rating to a “buy” rating in a report on Saturday, August 2nd. KeyCorp increased their price objective on shares of Tetra Tech from $41.00 to $43.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Finally, Robert W. Baird increased their price objective on shares of Tetra Tech from $31.00 to $33.00 and gave the company a “neutral” rating in a report on Thursday, May 8th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $41.67.

Insider Transactions at Tetra Tech

In related news, Director Gary Birkenbeuel sold 2,390 shares of the company’s stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $36.00, for a total value of $86,040.00. Following the completion of the sale, the director owned 37,725 shares in the company, valued at approximately $1,358,100. This represents a 5.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.40% of the company’s stock.

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.