Envestnet Asset Management Inc. Lowers Holdings in Tetra Tech, Inc. (NASDAQ:TTEK)

Envestnet Asset Management Inc. decreased its holdings in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 13.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 747,630 shares of the industrial products company's stock after selling 118,283 shares during the quarter. Envestnet Asset Management Inc. owned 0.28% of Tetra Tech worth $29,786,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. R Squared Ltd acquired a new position in shares of Tetra Tech during the 4th quarter worth about $39,000. Asset Planning Inc acquired a new position in shares of Tetra Tech during the fourth quarter valued at approximately $40,000. Jones Financial Companies Lllp lifted its position in shares of Tetra Tech by 98.0% in the fourth quarter. Jones Financial Companies Lllp now owns 1,000 shares of the industrial products company's stock valued at $40,000 after acquiring an additional 495 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Tetra Tech by 235.8% in the fourth quarter. Blue Trust Inc. now owns 1,444 shares of the industrial products company's stock worth $58,000 after acquiring an additional 1,014 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Tetra Tech during the fourth quarter worth approximately $63,000. Hedge funds and other institutional investors own 93.89% of the company's stock.

Tetra Tech Trading Down 1.4 %

Tetra Tech stock traded down $0.44 during midday trading on Tuesday, hitting $29.98. 1,159,785 shares of the stock were exchanged, compared to its average volume of 2,005,977. 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 stock's 50-day simple moving average is $29.87 and its 200 day simple moving average is $38.61. Tetra Tech, Inc. has a fifty-two week low of $27.27 and a fifty-two week high of $51.20. The stock has a market capitalization of $8.04 billion, a price-to-earnings ratio of 31.49 and a beta of 0.89.

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Tetra Tech (NASDAQ:TTEK - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $0.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.34 by $0.01. Tetra Tech had a net margin of 4.81% and a return on equity of 22.58%. On average, equities analysts anticipate that Tetra Tech, Inc. will post 1.37 EPS for the current year.

Tetra Tech Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were given a dividend of $0.058 per share. This represents a $0.23 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date was Wednesday, February 12th. Tetra Tech's payout ratio is 24.21%.

Analyst Upgrades and Downgrades

TTEK has been the topic of a number of research reports. Royal Bank of Canada set a $49.00 price objective on Tetra Tech in a report on Friday, January 31st. Maxim Group lowered shares of Tetra Tech from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. Finally, KeyCorp dropped their price objective on shares of Tetra Tech from $49.00 to $45.00 and set an "overweight" rating for the company in a research note on Friday, January 31st. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Tetra Tech currently has a consensus rating of "Moderate Buy" and an average price target of $47.92.

Insider Activity at Tetra Tech

In other Tetra Tech news, Director Kirsten M. Volpi sold 10,116 shares of the business's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $34.33, for a total value of $347,282.28. Following the sale, the director now owns 60,196 shares of the company's stock, valued at $2,066,528.68. The trade was a 14.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.40% 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.