LPL Financial LLC Reduces Position in Tetra Tech, Inc. (NASDAQ:TTEK)

LPL Financial LLC cut its holdings in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 8.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 600,987 shares of the industrial products company's stock after selling 54,453 shares during the period. LPL Financial LLC owned 0.22% of Tetra Tech worth $24,190,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Fox Run Management L.L.C. purchased a new position in Tetra Tech during the fourth quarter worth about $1,065,000. KLP Kapitalforvaltning AS purchased a new position in shares of Tetra Tech during the 4th quarter worth approximately $2,207,000. AXQ Capital LP increased its holdings in Tetra Tech by 21.3% in the 4th quarter. AXQ Capital LP now owns 18,400 shares of the industrial products company's stock valued at $733,000 after purchasing an additional 3,234 shares during the last quarter. Quantbot Technologies LP purchased a new stake in Tetra Tech in the fourth quarter valued at approximately $1,619,000. Finally, Semanteon Capital Management LP acquired a new stake in shares of Tetra Tech in the fourth quarter valued at $1,092,000. 93.89% of the stock is currently owned by hedge funds and other institutional investors.

Tetra Tech Stock Down 2.1 %

Shares of TTEK stock traded down $0.65 during trading hours on Thursday, reaching $30.18. 926,821 shares of the stock were exchanged, compared to its average volume of 1,964,955. Tetra Tech, Inc. has a 12-month low of $28.17 and a 12-month high of $51.20. The business's fifty day moving average is $31.39 and its two-hundred day moving average is $39.82. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.29 and a quick ratio of 1.29. The firm has a market capitalization of $8.09 billion, a P/E ratio of 31.70 and a beta of 0.93.

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Tetra Tech (NASDAQ:TTEK - Get Free Report) last announced 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 net margin of 4.81% and a return on equity of 22.58%. As a group, research analysts expect that Tetra Tech, Inc. will post 1.37 EPS for the current fiscal year.

Tetra Tech Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were given 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 (DPR) is presently 24.21%.

Insider Buying and Selling

In other news, Director Kirsten M. Volpi sold 10,116 shares of the business'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 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 filing with the Securities & Exchange Commission, which can be accessed through this link. 0.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on TTEK shares. KeyCorp lowered their target price on Tetra Tech from $49.00 to $45.00 and set an "overweight" rating for the company in a report on Friday, January 31st. Maxim Group lowered shares of Tetra Tech from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. Finally, Royal Bank of Canada set a $49.00 target price on shares of Tetra Tech in a research note on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $47.92.

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.