Convergence Investment Partners LLC decreased its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 28.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 10,974 shares of the industrial products company’s stock after selling 4,312 shares during the quarter. Convergence Investment Partners LLC’s holdings in Tetra Tech were worth $952,000 as of its most recent filing with the SEC.
Several other large investors also recently bought and sold shares of TTEK. Nuveen Asset Management LLC increased its holdings in shares of Tetra Tech by 3,925.4% during the 2nd quarter. Nuveen Asset Management LLC now owns 673,534 shares of the industrial products company’s stock worth $52,906,000 after purchasing an additional 656,802 shares during the period. Wells Fargo & Company MN boosted its position in shares of Tetra Tech by 161.5% during the 2nd quarter. Wells Fargo & Company MN now owns 518,983 shares of the industrial products company’s stock valued at $40,767,000 after acquiring an additional 320,512 shares in the last quarter. Allianz Asset Management GmbH boosted its position in shares of Tetra Tech by 28.8% during the 2nd quarter. Allianz Asset Management GmbH now owns 816,078 shares of the industrial products company’s stock valued at $64,103,000 after acquiring an additional 182,242 shares in the last quarter. Sandler Capital Management acquired a new stake in shares of Tetra Tech during the 2nd quarter valued at about $13,233,000. Finally, Columbus Circle Investors boosted its position in shares of Tetra Tech by 478.2% during the 2nd quarter. Columbus Circle Investors now owns 184,299 shares of the industrial products company’s stock valued at $14,477,000 after acquiring an additional 152,423 shares in the last quarter. Institutional investors own 86.32% of the company’s stock.
TTEK has been the topic of several recent research reports. Roth Capital lifted their target price on shares of Tetra Tech from $75.00 to $84.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. ValuEngine lowered shares of Tetra Tech from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. BidaskClub upgraded shares of Tetra Tech from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 9th. Finally, Maxim Group set a $92.00 target price on shares of Tetra Tech and gave the company a “buy” rating in a research report on Friday, August 23rd. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Tetra Tech presently has a consensus rating of “Buy” and a consensus target price of $80.40.
NASDAQ:TTEK opened at $87.95 on Thursday. The firm has a market cap of $4.84 billion, a PE ratio of 33.31, a price-to-earnings-growth ratio of 1.65 and a beta of 1.10. Tetra Tech, Inc. has a 12 month low of $48.52 and a 12 month high of $89.63. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.32. The company’s 50-day moving average price is $84.34 and its two-hundred day moving average price is $76.15.
Tetra Tech (NASDAQ:TTEK) last released its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.89 EPS for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.09. The firm had revenue of $623.20 million for the quarter, compared to analyst estimates of $605.42 million. Tetra Tech had a net margin of 5.85% and a return on equity of 17.36%. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.71 earnings per share. On average, research analysts expect that Tetra Tech, Inc. will post 3.13 EPS for the current fiscal year.
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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