Ledyard National Bank Sells 891 Shares of Tetra Tech, Inc. $TTEK

Ledyard National Bank lowered its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 4.7% in the 2nd quarter, Holdings Channel.com reports. The fund owned 18,177 shares of the industrial products company’s stock after selling 891 shares during the period. Ledyard National Bank’s holdings in Tetra Tech were worth $654,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. raised its stake in Tetra Tech by 39.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 18,496 shares of the industrial products company’s stock worth $541,000 after buying an additional 5,275 shares during the last quarter. FORA Capital LLC bought a new position in Tetra Tech during the first quarter worth $442,000. Catalyst Capital Advisors LLC raised its stake in Tetra Tech by 16.2% during the first quarter. Catalyst Capital Advisors LLC now owns 72,960 shares of the industrial products company’s stock worth $2,134,000 after buying an additional 10,159 shares during the last quarter. M&T Bank Corp raised its stake in Tetra Tech by 69.6% during the first quarter. M&T Bank Corp now owns 39,212 shares of the industrial products company’s stock worth $1,147,000 after buying an additional 16,093 shares during the last quarter. Finally, Isthmus Partners LLC raised its stake in Tetra Tech by 12.0% during the first quarter. Isthmus Partners LLC now owns 106,927 shares of the industrial products company’s stock worth $3,128,000 after buying an additional 11,432 shares during the last quarter. Institutional investors and hedge funds own 93.89% of the company’s stock.

Insiders Place Their Bets

In related news, Director Gary Birkenbeuel sold 2,390 shares of the business’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $36.00, for a total transaction of $86,040.00. Following the transaction, the director directly owned 37,725 shares in the company, valued at approximately $1,358,100. The trade was a 5.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. National Bank Financial assumed coverage on shares of Tetra Tech in a research note on Wednesday, October 8th. They set an “outperform” rating and a $41.00 target price for the company. Wall Street Zen raised shares of Tetra Tech from a “hold” rating to a “buy” rating in a research note on Saturday, October 25th. Royal Bank Of Canada set a $47.00 target price on shares of Tetra Tech and gave the stock an “outperform” rating in a research note on Monday, September 29th. Weiss Ratings restated a “hold (c)” rating on shares of Tetra Tech in a report on Wednesday, October 8th. Finally, Northcoast Research restated a “neutral” rating on shares of Tetra Tech in a report on Wednesday, October 1st. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $41.00.

Tetra Tech Stock Up 1.0%

Shares of NASDAQ TTEK opened at $32.18 on Friday. The stock has a market capitalization of $8.46 billion, a P/E ratio of 40.23 and a beta of 0.94. The company has a 50-day moving average price of $34.67 and a 200-day moving average price of $34.95. Tetra Tech, Inc. has a 1 year low of $27.27 and a 1 year high of $51.20. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.18 and a quick ratio of 1.18.

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

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.