California Public Employees Retirement System Sells 3,846 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

California Public Employees Retirement System cut its stake in Tetra Tech, Inc. (NASDAQ:TTEK) by 3.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 104,506 shares of the industrial products company’s stock after selling 3,846 shares during the period. California Public Employees Retirement System owned approximately 0.20% of Tetra Tech worth $17,445,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of TTEK. Contravisory Investment Management Inc. bought a new stake in shares of Tetra Tech in the fourth quarter valued at about $26,000. Millburn Ridgefield Corp bought a new stake in shares of Tetra Tech in the 3rd quarter worth approximately $37,000. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Tetra Tech during the 4th quarter worth approximately $89,000. Fifth Third Bancorp increased its position in shares of Tetra Tech by 39.1% during the third quarter. Fifth Third Bancorp now owns 718 shares of the industrial products company’s stock valued at $109,000 after purchasing an additional 202 shares during the period. Finally, GW Henssler & Associates Ltd. acquired a new position in shares of Tetra Tech in the third quarter valued at $204,000. 93.89% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on TTEK. KeyCorp began coverage on shares of Tetra Tech in a report on Wednesday, January 10th. They issued an “overweight” rating and a $191.00 price target on the stock. Royal Bank of Canada raised their price target 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 investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Tetra Tech presently has an average rating of “Moderate Buy” and an average price target of $197.25.

Insider Activity at Tetra Tech

In other news, CFO Steven M. Burdick sold 7,128 shares of the stock in a transaction on Monday, February 5th. The stock was sold at an average price of $165.01, for a total transaction of $1,176,191.28. Following the sale, the chief financial officer now owns 37,405 shares in the company, valued at $6,172,199.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Brian N. Carter sold 5,580 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 8,360 shares in the company, valued at approximately $1,475,707.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Steven M. Burdick sold 7,128 shares of the stock in a transaction on Monday, February 5th. The shares were sold at an average price of $165.01, for a total value of $1,176,191.28. Following the completion of the transaction, the chief financial officer now owns 37,405 shares in the company, valued at $6,172,199.05. The disclosure for this sale can be found here. Insiders sold 32,123 shares of company stock valued at $5,487,673 in the last three months. Corporate insiders own 0.61% of the company’s stock.

Tetra Tech Stock Up 0.4 %

Shares of NASDAQ:TTEK opened at $193.20 on Tuesday. The company’s fifty day moving average is $184.83 and its 200-day moving average is $170.68. 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, Inc. has a 52 week low of $132.29 and a 52 week high of $194.99. The company has a market capitalization of $10.34 billion, a PE ratio of 44.72 and a beta of 0.96.

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

Tetra Tech Company 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.