New York State Common Retirement Fund Has $24.33 Million Stake in Tetra Tech, Inc. (NASDAQ:TTEK)

New York State Common Retirement Fund trimmed its holdings in Tetra Tech, Inc. (NASDAQ:TTEK) by 13.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 145,727 shares of the industrial products company’s stock after selling 23,138 shares during the period. New York State Common Retirement Fund owned 0.27% of Tetra Tech worth $24,326,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in TTEK. Contravisory Investment Management Inc. bought a new position in Tetra Tech in the fourth quarter valued at approximately $26,000. Millburn Ridgefield Corp bought a new position in Tetra Tech in the third quarter valued at approximately $37,000. McGlone Suttner Wealth Management Inc. bought a new position in Tetra Tech in the fourth quarter valued at approximately $89,000. Fifth Third Bancorp increased its stake in Tetra Tech by 39.1% in the third quarter. Fifth Third Bancorp now owns 718 shares of the industrial products company’s stock valued at $109,000 after acquiring an additional 202 shares during the last quarter. Finally, GW Henssler & Associates Ltd. bought a new position in Tetra Tech in the third quarter valued at approximately $204,000. 93.89% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. KeyCorp assumed coverage on shares of Tetra Tech in a research note on Wednesday, January 10th. They issued an “overweight” rating and a $191.00 price objective on the stock. Royal Bank of Canada boosted their target price on shares of Tetra Tech from $192.00 to $203.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Tetra Tech currently has a consensus rating of “Moderate Buy” and an average target price of $197.25.

Tetra Tech Stock Performance

NASDAQ TTEK opened at $192.50 on Friday. The firm’s fifty day moving average price is $184.29 and its two-hundred day moving average price is $170.13. The stock has a market cap of $10.30 billion, a PE ratio of 44.56 and a beta of 0.96. Tetra Tech, Inc. has a fifty-two week low of $132.29 and a fifty-two week high of $194.99. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.25 and a current ratio of 1.25.

Tetra Tech (NASDAQ:TTEK) last posted its earnings results on Wednesday, January 31st. The industrial products company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.05. The firm had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $974.00 million. Tetra Tech had a net margin of 4.77% and a return on equity of 21.05%. During the same quarter in the previous year, the firm posted $1.34 earnings per share. On average, equities analysts expect that Tetra Tech, Inc. will post 6.07 EPS for the current fiscal year.

Tetra Tech Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 27th. Investors of record on Wednesday, February 14th were paid a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, February 13th. This represents a $1.04 annualized dividend and a dividend yield of 0.54%. Tetra Tech’s dividend payout ratio is 24.07%.

Insider Buying and Selling

In related news, Director J Kenneth Thompson sold 3,500 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $177.24, for a total value of $620,340.00. Following the sale, the director now owns 10,985 shares of the company’s stock, valued at $1,946,981.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, SVP Brian N. Carter sold 5,580 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $176.52, for a total value of $984,981.60. Following the sale, the senior vice president now owns 8,360 shares of the company’s stock, valued at $1,475,707.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director J Kenneth Thompson sold 3,500 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $177.24, for a total transaction of $620,340.00. Following the completion of the transaction, the director now owns 10,985 shares in the company, valued at approximately $1,946,981.40. The disclosure for this sale can be found here. Insiders have sold a total of 32,123 shares of company stock valued at $5,487,673 over the last 90 days. 0.61% of the stock is owned by insiders.

Tetra Tech Profile

Tetra Tech, Inc provides consulting and engineering services in the United States and internationally. The company operates through two segments, Government Services Group (GSG) and Commercial/International Services Group (CIG). The GSG segment offers early data collection and monitoring, data analysis and information management, science and engineering applied research, engineering design, project 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.