Louisiana State Employees Retirement System cut its stake in Tetra Tech, Inc. (NASDAQ:TTEK) by 0.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,600 shares of the industrial products company’s stock after selling 196 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Tetra Tech were worth $1,228,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of TTEK. Enlightenment Research LLC bought a new stake in Tetra Tech during the fourth quarter valued at about $31,000. Resources Investment Advisors Inc. bought a new position in Tetra Tech during the fourth quarter worth about $31,000. Quantamental Technologies LLC acquired a new stake in shares of Tetra Tech during the fourth quarter worth approximately $44,000. Meeder Asset Management Inc. acquired a new stake in shares of Tetra Tech during the fourth quarter worth approximately $66,000. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Tetra Tech by 4,747.1% during the third quarter. Tower Research Capital LLC TRC now owns 1,648 shares of the industrial products company’s stock worth $113,000 after buying an additional 1,614 shares in the last quarter. 89.61% of the stock is currently owned by institutional investors and hedge funds.
In related news, SVP Craig L. Christensen sold 625 shares of the company’s stock in a transaction dated Wednesday, February 13th. The shares were sold at an average price of $57.50, for a total value of $35,937.50. Following the transaction, the senior vice president now owns 35,566 shares in the company, valued at approximately $2,045,045. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Craig L. Christensen sold 624 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $65.00, for a total transaction of $40,560.00. Following the completion of the sale, the senior vice president now directly owns 34,317 shares of the company’s stock, valued at approximately $2,230,605. The disclosure for this sale can be found here. Insiders have sold a total of 63,122 shares of company stock worth $3,787,007 over the last 90 days. 3.00% of the stock is owned by company insiders.
Tetra Tech (NASDAQ:TTEK) last released its quarterly earnings data on Wednesday, May 1st. The industrial products company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.06. The company had revenue of $585.40 million for the quarter, compared to analyst estimates of $552.65 million. Tetra Tech had a net margin of 5.44% and a return on equity of 16.71%. Tetra Tech’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.54 EPS. As a group, equities research analysts forecast that Tetra Tech, Inc. will post 3.03 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Wednesday, May 15th will be paid a dividend of $0.15 per share. The ex-dividend date is Tuesday, May 14th. This is a positive change from Tetra Tech’s previous quarterly dividend of $0.12. This represents a $0.60 annualized dividend and a dividend yield of 0.89%. Tetra Tech’s payout ratio is currently 18.18%.
TTEK has been the subject of several recent analyst reports. Zacks Investment Research raised shares of Tetra Tech from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a report on Friday, February 8th. Roth Capital dropped their price objective on shares of Tetra Tech from $73.00 to $66.00 and set a “buy” rating for the company in a report on Tuesday, January 29th. BidaskClub lowered shares of Tetra Tech from a “sell” rating to a “strong sell” rating in a report on Saturday, January 19th. ValuEngine lowered shares of Tetra Tech from a “buy” rating to a “hold” rating in a report on Tuesday, March 5th. Finally, Boenning Scattergood reissued a “buy” rating and issued a $80.00 price target on shares of Tetra Tech in a report on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Tetra Tech has a consensus rating of “Buy” and a consensus price target of $76.83.
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Tetra Tech Profile
Tetra Tech, Inc provides consulting and engineering services worldwide. It operates through Government Services Group (GSG) and Commercial/International Services Group (CIG) segments. The GSG segment offers early data collection and monitoring, data analysis and information technology, science and engineering applied research, engineering design, construction 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.
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