SG Americas Securities LLC lowered its stake in Tetra Tech, Inc. (NASDAQ:TTEK) by 8.7% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 21,795 shares of the industrial products company’s stock after selling 2,088 shares during the period. SG Americas Securities LLC’s holdings in Tetra Tech were worth $1,489,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in Tetra Tech by 9.2% during the 2nd quarter. BlackRock Inc. now owns 8,166,363 shares of the industrial products company’s stock valued at $477,733,000 after purchasing an additional 691,409 shares during the period. KAMES CAPITAL plc boosted its stake in Tetra Tech by 2.6% during the 3rd quarter. KAMES CAPITAL plc now owns 1,480,699 shares of the industrial products company’s stock valued at $101,132,000 after purchasing an additional 37,262 shares during the period. Boston Partners boosted its stake in Tetra Tech by 0.4% during the 2nd quarter. Boston Partners now owns 1,054,385 shares of the industrial products company’s stock valued at $61,682,000 after purchasing an additional 4,525 shares during the period. Macquarie Group Ltd. boosted its stake in Tetra Tech by 11.4% during the 2nd quarter. Macquarie Group Ltd. now owns 915,860 shares of the industrial products company’s stock valued at $53,578,000 after purchasing an additional 93,785 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its stake in Tetra Tech by 5.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 451,242 shares of the industrial products company’s stock valued at $26,398,000 after purchasing an additional 23,992 shares during the period. 84.55% of the stock is owned by institutional investors.
In other news, CEO Dan L. Batrack sold 44,869 shares of the company’s stock in a transaction that occurred on Thursday, November 15th. The shares were sold at an average price of $65.11, for a total value of $2,921,420.59. Following the completion of the sale, the chief executive officer now directly owns 305,800 shares of the company’s stock, valued at approximately $19,910,638. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Brian N. Carter sold 8,215 shares of the company’s stock in a transaction that occurred on Monday, November 26th. The stock was sold at an average price of $62.28, for a total transaction of $511,630.20. Following the completion of the sale, the senior vice president now directly owns 7,430 shares of the company’s stock, valued at $462,740.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 61,034 shares of company stock valued at $3,958,744. Company insiders own 3.40% of the company’s stock.
Tetra Tech (NASDAQ:TTEK) last issued its quarterly earnings results on Wednesday, November 7th. The industrial products company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.01. The company had revenue of $563.67 million during the quarter, compared to analyst estimates of $571.33 million. Tetra Tech had a net margin of 4.62% and a return on equity of 15.80%. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.63 EPS. Equities analysts forecast that Tetra Tech, Inc. will post 2.87 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 30th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date is Thursday, November 29th. Tetra Tech’s dividend payout ratio is currently 18.18%.
A number of research analysts have issued reports on TTEK shares. Robert W. Baird boosted their target price on shares of Tetra Tech from $63.00 to $70.00 and gave the company a “hold” rating in a research note on Thursday, November 8th. Zacks Investment Research reissued a “hold” rating on shares of Tetra Tech in a research note on Saturday, November 17th. BidaskClub raised shares of Tetra Tech from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 16th. Finally, Maxim Group set a $87.00 target price on shares of Tetra Tech and gave the company a “buy” rating in a research note on Thursday, November 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $72.86.
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Tetra Tech Company Profile
Tetra Tech, Inc provides consulting and engineering services worldwide. It operates through two segments, Water, Environment and Infrastructure (WEI); and Resource Management and Energy (RME). The WEI 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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