Retirement Systems of Alabama Increases Stake in Tetra Tech, Inc. $TTEK

Retirement Systems of Alabama increased its position in Tetra Tech, Inc. (NASDAQ:TTEK) by 13.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 425,827 shares of the industrial products company’s stock after acquiring an additional 48,829 shares during the quarter. Retirement Systems of Alabama’s holdings in Tetra Tech were worth $15,313,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in TTEK. Brighton Jones LLC purchased a new stake in Tetra Tech in the 4th quarter worth about $225,000. Cambridge Investment Research Advisors Inc. increased its holdings in Tetra Tech by 39.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 18,496 shares of the industrial products company’s stock worth $541,000 after acquiring an additional 5,275 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Tetra Tech by 0.3% in the 1st quarter. Principal Financial Group Inc. now owns 621,677 shares of the industrial products company’s stock worth $18,184,000 after acquiring an additional 1,960 shares during the last quarter. OneDigital Investment Advisors LLC increased its holdings in Tetra Tech by 40.5% in the 1st quarter. OneDigital Investment Advisors LLC now owns 9,266 shares of the industrial products company’s stock worth $271,000 after acquiring an additional 2,670 shares during the last quarter. Finally, Impax Asset Management Group plc increased its holdings in Tetra Tech by 3.6% in the 1st quarter. Impax Asset Management Group plc now owns 24,600 shares of the industrial products company’s stock worth $720,000 after acquiring an additional 846 shares during the last quarter. Hedge funds and other institutional investors own 93.89% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tetra Tech in a report on Wednesday, October 8th. KeyCorp lifted their target price on Tetra Tech from $41.00 to $43.00 and gave the company an “overweight” rating in a report on Friday, August 1st. National Bank Financial assumed coverage on Tetra Tech in a report on Wednesday, October 8th. They set an “outperform” rating and a $41.00 target price for the company. Northcoast Research reaffirmed a “neutral” rating on shares of Tetra Tech in a report on Wednesday, October 1st. Finally, Royal Bank Of Canada set a $47.00 target price on Tetra Tech and gave the company an “outperform” rating in a report on Monday, September 29th. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $41.00.

Insiders Place Their Bets

In related news, Director Gary Birkenbeuel sold 2,390 shares of the business’s stock in a transaction that occurred on Thursday, August 14th. The stock was 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 $1,358,100. The trade was a 5.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.40% of the stock is owned by insiders.

Tetra Tech Stock Down 0.6%

Shares of NASDAQ TTEK opened at $31.98 on Friday. Tetra Tech, Inc. has a 12 month low of $27.27 and a 12 month high of $51.20. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $8.40 billion, a price-to-earnings ratio of 39.98 and a beta of 0.94. The business has a 50-day moving average of $34.57 and a 200-day moving average of $35.00.

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

Tetra Tech Company 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.