Martingale Asset Management L P Decreases Position in Tetra Tech, Inc. (NASDAQ:TTEK)

Martingale Asset Management L P cut its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 87.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 57,537 shares of the industrial products company's stock after selling 413,224 shares during the quarter. Martingale Asset Management L P's holdings in Tetra Tech were worth $2,292,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

A number of research firms recently commented on TTEK. KeyCorp dropped their price target on shares of Tetra Tech from $45.00 to $34.00 and set an "overweight" rating for the company in a research note on Wednesday. Royal Bank of Canada set a $49.00 price target on shares of Tetra Tech in a research report on Friday, January 31st. Finally, Maxim Group downgraded Tetra Tech from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Tetra Tech currently has a consensus rating of "Moderate Buy" and an average target price of $45.72.

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Tetra Tech Stock Up 0.1 %

Shares of Tetra Tech stock traded up $0.03 during trading on Wednesday, reaching $30.01. The stock had a trading volume of 238,875 shares, compared to its average volume of 1,999,064. 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 company has a market capitalization of $8.04 billion, a price-to-earnings ratio of 31.52 and a beta of 0.89. Tetra Tech, Inc. has a 52 week low of $27.27 and a 52 week high of $51.20. The stock has a fifty day moving average price of $29.80 and a two-hundred day moving average price of $38.55.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.34 by $0.01. Tetra Tech had a return on equity of 22.58% and a net margin of 4.81%. Sell-side analysts predict that Tetra Tech, Inc. will post 1.37 EPS for the current fiscal year.

Tetra Tech Dividend Announcement

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

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 dated Tuesday, February 4th. The stock was sold at an average price of $34.33, for a total value of $347,282.28. Following the completion of the transaction, the director now owns 60,196 shares of the company's stock, 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 hyperlink. 0.40% of the stock is owned by corporate insiders.

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.