Tetra Tech, Inc. (TTEK) Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP reduced its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 2.6% during the fourth quarter, HoldingsChannel reports. The firm owned 2,353,519 shares of the industrial products company’s stock after selling 62,939 shares during the period. Dimensional Fund Advisors LP’s holdings in Tetra Tech were worth $121,841,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. BlackRock Inc. increased its position in Tetra Tech by 1.7% during the fourth quarter. BlackRock Inc. now owns 8,557,320 shares of the industrial products company’s stock valued at $443,014,000 after acquiring an additional 139,246 shares during the last quarter. Vanguard Group Inc increased its position in Tetra Tech by 1.5% during the third quarter. Vanguard Group Inc now owns 5,584,328 shares of the industrial products company’s stock valued at $381,410,000 after acquiring an additional 84,426 shares during the last quarter. Morgan Stanley increased its position in Tetra Tech by 51.8% during the third quarter. Morgan Stanley now owns 520,396 shares of the industrial products company’s stock valued at $35,544,000 after acquiring an additional 177,506 shares during the last quarter. Managed Asset Portfolios LLC increased its position in Tetra Tech by 1.7% during the fourth quarter. Managed Asset Portfolios LLC now owns 430,524 shares of the industrial products company’s stock valued at $22,288,000 after acquiring an additional 7,066 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust increased its position in Tetra Tech by 0.4% during the fourth quarter. Emerald Mutual Fund Advisers Trust now owns 401,716 shares of the industrial products company’s stock valued at $20,797,000 after acquiring an additional 1,683 shares during the last quarter. 89.61% of the stock is currently owned by hedge funds and other institutional investors.

Shares of TTEK opened at $65.85 on Tuesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.60 and a quick ratio of 1.79. The stock has a market capitalization of $3.63 billion, a price-to-earnings ratio of 24.94, a P/E/G ratio of 1.48 and a beta of 1.18. Tetra Tech, Inc. has a 52 week low of $48.52 and a 52 week high of $72.56.

Tetra Tech (NASDAQ:TTEK) last issued its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.06. The business had revenue of $585.40 million during the quarter, compared to analysts’ expectations of $552.65 million. Tetra Tech had a return on equity of 16.71% and a net margin of 5.44%. The business’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.54 earnings per share. As a group, research analysts anticipate that Tetra Tech, Inc. will post 3.03 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Wednesday, May 15th will be given a $0.15 dividend. This is a boost from Tetra Tech’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $0.60 dividend on an annualized basis and a yield of 0.91%. Tetra Tech’s dividend payout ratio is presently 18.18%.

In other Tetra Tech news, Director Albert E. Smith sold 12,600 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $60.00, for a total value of $756,000.00. Following the completion of the sale, the director now owns 47,358 shares in the company, valued at $2,841,480. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Craig L. Christensen sold 624 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $65.00, for a total value of $40,560.00. Following the sale, the senior vice president now owns 34,317 shares of the company’s stock, valued at approximately $2,230,605. The disclosure for this sale can be found here. In the last 90 days, insiders sold 63,122 shares of company stock valued at $3,787,007. Company insiders own 3.00% of the company’s stock.

A number of analysts recently commented on the company. Roth Capital upped their price objective on Tetra Tech from $66.00 to $75.00 and gave the company a “buy” rating in a research report on Monday, May 6th. BidaskClub upgraded Tetra Tech from a “sell” rating to a “hold” rating in a research report on Thursday, May 9th. Sidoti assumed coverage on Tetra Tech in a research report on Tuesday, April 9th. They set a “buy” rating for the company. ValuEngine upgraded Tetra Tech from a “hold” rating to a “buy” rating in a research report on Friday, February 8th. Finally, Zacks Investment Research upgraded Tetra Tech from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a research report on Friday, February 8th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Tetra Tech presently has a consensus rating of “Buy” and a consensus price target of $76.83.

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About Tetra Tech

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.

Further Reading: Overbought

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Institutional Ownership by Quarter for Tetra Tech (NASDAQ:TTEK)

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