Man Group plc decreased its position in Tetra Tech, Inc. (NASDAQ:TTEK) by 27.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 205,587 shares of the industrial products company’s stock after selling 77,134 shares during the quarter. Man Group plc owned about 0.38% of Tetra Tech worth $17,837,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Public Employees Retirement System of Ohio boosted its stake in Tetra Tech by 85.3% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 29,632 shares of the industrial products company’s stock valued at $2,571,000 after purchasing an additional 13,642 shares during the period. Point72 Asset Management L.P. increased its position in Tetra Tech by 41.7% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,700 shares of the industrial products company’s stock worth $147,000 after buying an additional 500 shares during the period. Penserra Capital Management LLC acquired a new stake in shares of Tetra Tech during the third quarter worth $264,000. California State Teachers Retirement System lifted its holdings in shares of Tetra Tech by 1.2% during the third quarter. California State Teachers Retirement System now owns 85,057 shares of the industrial products company’s stock worth $7,380,000 after buying an additional 1,016 shares in the last quarter. Finally, Pictet Asset Management Ltd. grew its stake in shares of Tetra Tech by 61.9% in the third quarter. Pictet Asset Management Ltd. now owns 407,267 shares of the industrial products company’s stock valued at $35,334,000 after acquiring an additional 155,727 shares in the last quarter. Institutional investors own 84.11% of the company’s stock.
In other news, Director J Christopher Lewis sold 4,489 shares of Tetra Tech stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $82.12, for a total value of $368,636.68. Following the transaction, the director now owns 51,519 shares in the company, valued at approximately $4,230,740.28. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Dan L. Batrack sold 43,560 shares of Tetra Tech stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $82.20, for a total value of $3,580,632.00. Following the completion of the transaction, the chief executive officer now owns 308,250 shares in the company, valued at approximately $25,338,150. The disclosure for this sale can be found here. Insiders sold a total of 91,101 shares of company stock valued at $7,643,503 over the last 90 days. Corporate insiders own 3.00% of the company’s stock.
Tetra Tech (NASDAQ:TTEK) last posted its quarterly earnings results on Wednesday, November 13th. The industrial products company reported $0.88 EPS for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.04. Tetra Tech had a return on equity of 17.92% and a net margin of 5.11%. The business had revenue of $640.18 million during the quarter, compared to the consensus estimate of $636.89 million. During the same quarter in the previous year, the firm earned $0.75 earnings per share. Tetra Tech’s revenue for the quarter was up 13.6% compared to the same quarter last year. On average, research analysts predict that Tetra Tech, Inc. will post 3.42 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.69%. The ex-dividend date is Friday, November 29th. Tetra Tech’s dividend payout ratio is currently 18.93%.
Several brokerages have weighed in on TTEK. BidaskClub cut shares of Tetra Tech from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 8th. Cfra lowered shares of Tetra Tech from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Maxim Group raised their target price on shares of Tetra Tech from $92.00 to $104.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. ValuEngine downgraded shares of Tetra Tech from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Roth Capital boosted their price target on Tetra Tech from $75.00 to $84.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $86.00.
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.
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