FIL Ltd Cuts Stake in Tetra Tech, Inc. (NASDAQ:TTEK)

FIL Ltd decreased its position in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 9.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,814,101 shares of the industrial products company's stock after selling 500,951 shares during the quarter. FIL Ltd owned about 1.80% of Tetra Tech worth $191,794,000 as of its most recent SEC filing.

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

Insider Activity

In other news, Director Kirsten M. Volpi sold 10,116 shares of the firm's stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $34.33, for a total transaction of $347,282.28. Following the completion of the transaction, the director now directly owns 60,196 shares in the company, valued at $2,066,528.68. This trade represents a 14.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.40% of the stock is currently owned by company insiders.

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Analyst Ratings Changes

Several research analysts have issued reports on TTEK shares. Royal Bank of Canada set a $49.00 price target on Tetra Tech in a report on Friday, January 31st. KeyCorp cut their target price on Tetra Tech from $49.00 to $45.00 and set an "overweight" rating on the stock in a report on Friday, January 31st. Finally, Maxim Group lowered shares of Tetra Tech from a "strong-buy" rating to a "hold" rating in a research note 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 company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $47.92.

Tetra Tech Price Performance

TTEK traded up $0.03 on Monday, reaching $30.22. The company had a trading volume of 314,956 shares, compared to its average volume of 2,003,280. The company has a market cap of $8.10 billion, a price-to-earnings ratio of 31.74 and a beta of 0.89. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.29 and a current ratio of 1.29. Tetra Tech, Inc. has a 52-week low of $27.27 and a 52-week high of $51.20. The business has a 50 day simple moving average of $29.95 and a 200 day simple moving average of $38.72.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last released its quarterly earnings data 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 return on equity of 22.58% and a net margin of 4.81%. As a group, sell-side analysts anticipate that Tetra Tech, Inc. will post 1.37 EPS for the current year.

Tetra Tech Announces Dividend

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

About Tetra Tech

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.