Parallel Advisors LLC boosted its stake in Tetra Tech, Inc. (NASDAQ:TTEK) by 62.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 337 shares of the industrial products company’s stock after acquiring an additional 129 shares during the period. Parallel Advisors LLC’s holdings in Tetra Tech were worth $29,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Wealthcare Advisory Partners LLC bought a new stake in shares of Tetra Tech during the 3rd quarter valued at $33,000. Winthrop Partners WNY LLC bought a new stake in shares of Tetra Tech during the 3rd quarter valued at $33,000. Meeder Asset Management Inc. boosted its holdings in shares of Tetra Tech by 82.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 625 shares of the industrial products company’s stock valued at $49,000 after buying an additional 283 shares in the last quarter. Huntington National Bank boosted its holdings in shares of Tetra Tech by 57.7% during the 2nd quarter. Huntington National Bank now owns 749 shares of the industrial products company’s stock valued at $59,000 after buying an additional 274 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. bought a new position in Tetra Tech in the 2nd quarter worth about $83,000. Institutional investors and hedge funds own 85.73% of the company’s stock.
TTEK has been the topic of a number of analyst reports. Roth Capital upped their price target on shares of Tetra Tech from $75.00 to $84.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. ValuEngine cut shares of Tetra Tech from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Maxim Group upped their price target on shares of Tetra Tech from $92.00 to $104.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, BidaskClub cut shares of Tetra Tech from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 8th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Tetra Tech currently has an average rating of “Buy” and a consensus target price of $86.00.
Tetra Tech (NASDAQ:TTEK) last released its quarterly earnings results on Wednesday, November 13th. The industrial products company reported $0.88 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.04. Tetra Tech had a net margin of 5.85% and a return on equity of 17.36%. The firm had revenue of $640.18 million during the quarter, compared to analyst estimates of $636.89 million. During the same quarter in the prior year, the firm earned $0.75 EPS. The business’s revenue for the quarter was up 13.6% compared to the same quarter last year. As a group, research analysts predict that Tetra Tech, Inc. will post 3.44 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.69%. Tetra Tech’s payout ratio is currently 18.93%.
In other news, CFO Steven M. Burdick sold 27,500 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $81.18, for a total transaction of $2,232,450.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Dan L. Batrack sold 43,560 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $82.20, for a total transaction of $3,580,632.00. Following the sale, the chief executive officer now directly owns 308,250 shares of the company’s stock, valued at approximately $25,338,150. The disclosure for this sale can be found here. Insiders have sold a total of 103,059 shares of company stock valued at $8,430,166 in the last ninety days. Insiders own 3.00% of the company’s stock.
Tetra Tech Company 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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