ExodusPoint Capital Management LP lowered its stake in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 95.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,821 shares of the industrial products company's stock after selling 157,163 shares during the quarter. ExodusPoint Capital Management LP's holdings in Tetra Tech were worth $272,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Geode Capital Management LLC grew its holdings in Tetra Tech by 406.6% during the third quarter. Geode Capital Management LLC now owns 4,716,080 shares of the industrial products company's stock worth $222,466,000 after acquiring an additional 3,785,189 shares during the period. Norges Bank acquired a new position in shares of Tetra Tech in the 4th quarter worth approximately $121,390,000. King Luther Capital Management Corp raised its holdings in shares of Tetra Tech by 324.0% in the 4th quarter. King Luther Capital Management Corp now owns 1,278,295 shares of the industrial products company's stock worth $50,927,000 after purchasing an additional 976,810 shares in the last quarter. Teacher Retirement System of Texas lifted its stake in Tetra Tech by 130.8% during the fourth quarter. Teacher Retirement System of Texas now owns 1,383,025 shares of the industrial products company's stock valued at $55,100,000 after purchasing an additional 783,736 shares during the last quarter. Finally, Jennison Associates LLC bought a new stake in Tetra Tech during the fourth quarter worth approximately $22,653,000. Institutional investors own 93.89% of the company's stock.
Insider Activity
In other Tetra Tech news, Director Kirsten M. Volpi sold 10,116 shares of the company's stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $34.33, for a total transaction of $347,282.28. Following the completion of the sale, the director now owns 60,196 shares in the company, valued at approximately $2,066,528.68. The trade was a 14.39 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.40% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently commented on TTEK shares. Maxim Group downgraded Tetra Tech from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. Royal Bank of Canada set a $49.00 target price on Tetra Tech in a report on Friday, January 31st. Finally, KeyCorp dropped their price target on Tetra Tech from $49.00 to $45.00 and set an "overweight" rating on the stock in a research note on Friday, January 31st. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $47.92.
View Our Latest Report on TTEK
Tetra Tech Stock Down 1.4 %
Shares of NASDAQ:TTEK traded down $0.44 on Tuesday, reaching $29.98. The company had a trading volume of 1,159,785 shares, compared to its average volume of 2,005,977. The stock has a market capitalization of $8.04 billion, a P/E ratio of 31.49 and a beta of 0.89. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.53. The stock has a 50-day moving average price of $29.87 and a 200 day moving average price of $38.61. Tetra Tech, Inc. has a twelve month low of $27.27 and a twelve month high of $51.20.
Tetra Tech (NASDAQ:TTEK - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $0.35 earnings per share for the quarter, beating 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 expect that Tetra Tech, Inc. will post 1.37 EPS for the current year.
Tetra Tech Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were issued a $0.058 dividend. This represents a $0.23 dividend on an annualized basis 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 currently 24.21%.
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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