Bessemer Group Inc. raised its position in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 924.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 815,939 shares of the industrial products company's stock after purchasing an additional 736,279 shares during the quarter. Bessemer Group Inc. owned 0.30% of Tetra Tech worth $32,508,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. CenterBook Partners LP boosted its holdings in Tetra Tech by 492.4% in the 4th quarter. CenterBook Partners LP now owns 69,205 shares of the industrial products company's stock worth $2,757,000 after buying an additional 57,522 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Tetra Tech in the fourth quarter valued at about $8,611,000. Advisory Services Network LLC boosted its stake in shares of Tetra Tech by 293.8% in the fourth quarter. Advisory Services Network LLC now owns 8,184 shares of the industrial products company's stock worth $326,000 after acquiring an additional 6,106 shares during the period. Renaissance Technologies LLC grew its position in shares of Tetra Tech by 150.3% during the fourth quarter. Renaissance Technologies LLC now owns 654,800 shares of the industrial products company's stock worth $26,087,000 after purchasing an additional 393,200 shares in the last quarter. Finally, Bank of Nova Scotia grew its position in shares of Tetra Tech by 24.1% during the fourth quarter. Bank of Nova Scotia now owns 641,860 shares of the industrial products company's stock worth $25,572,000 after purchasing an additional 124,619 shares in the last quarter. 93.89% of the stock is currently owned by institutional investors.
Tetra Tech Trading Down 1.0 %
Shares of NASDAQ TTEK traded down $0.30 during midday trading on Tuesday, hitting $30.12. The company's stock had a trading volume of 376,458 shares, compared to its average volume of 2,001,021. Tetra Tech, Inc. has a 12-month low of $27.27 and a 12-month high of $51.20. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.53. The firm has a market cap of $8.07 billion, a P/E ratio of 31.64 and a beta of 0.89. The business's 50 day moving average is $29.87 and its two-hundred day moving average is $38.61.
Tetra Tech (NASDAQ:TTEK - Get Free Report) last released its earnings results on Wednesday, January 29th. The industrial products company reported $0.35 earnings per share for the quarter, topping analysts' consensus estimates of $0.34 by $0.01. Tetra Tech had a return on equity of 22.58% and a net margin of 4.81%. As a group, equities research analysts expect that Tetra Tech, Inc. will post 1.37 EPS for the current year.
Tetra Tech Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were paid a dividend of $0.058 per share. This represents a $0.23 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend was Wednesday, February 12th. Tetra Tech's dividend payout ratio is presently 24.21%.
Wall Street Analyst Weigh In
Several research firms have weighed in on TTEK. Royal Bank of Canada set a $49.00 price target on Tetra Tech in a research note on Friday, January 31st. KeyCorp cut their price target on Tetra Tech from $49.00 to $45.00 and set an "overweight" rating for the company in a report on Friday, January 31st. Finally, Maxim Group cut Tetra Tech from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Tetra Tech presently has a consensus rating of "Moderate Buy" and an average target price of $47.92.
View Our Latest Research Report on TTEK
Insider Activity at Tetra Tech
In other news, Director Kirsten M. Volpi sold 10,116 shares of the company's stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $34.33, for a total value of $347,282.28. Following the completion of the sale, the director now owns 60,196 shares of the company's stock, valued at approximately $2,066,528.68. This represents a 14.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.40% of the stock is owned by company insiders.
About Tetra Tech
(
Free Report)
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.
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