Polen Capital Management LLC lifted its stake in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 86.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 43,162 shares of the industrial products company's stock after acquiring an additional 20,038 shares during the period. Polen Capital Management LLC's holdings in Tetra Tech were worth $1,720,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of TTEK. Venturi Wealth Management LLC grew its stake in shares of Tetra Tech by 3,261.1% in the third quarter. Venturi Wealth Management LLC now owns 605 shares of the industrial products company's stock worth $29,000 after acquiring an additional 587 shares during the last quarter. Canton Hathaway LLC lifted its position in Tetra Tech by 400.0% in the third quarter. Canton Hathaway LLC now owns 645 shares of the industrial products company's stock worth $30,000 after purchasing an additional 516 shares during the period. Banque Cantonale Vaudoise lifted its position in Tetra Tech by 400.0% in the third quarter. Banque Cantonale Vaudoise now owns 695 shares of the industrial products company's stock worth $33,000 after purchasing an additional 556 shares during the period. Millburn Ridgefield Corp lifted its position in Tetra Tech by 346.9% in the third quarter. Millburn Ridgefield Corp now owns 800 shares of the industrial products company's stock worth $37,000 after purchasing an additional 621 shares during the period. Finally, R Squared Ltd bought a new position in Tetra Tech in the fourth quarter worth $39,000. 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 value of $347,282.28. Following the completion of the sale, the director now directly owns 60,196 shares in the company, valued at approximately $2,066,528.68. This trade represents a 14.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.40% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
Several research analysts recently commented on TTEK shares. Royal Bank of Canada set a $49.00 target price on Tetra Tech in a research report on Friday, January 31st. Maxim Group cut Tetra Tech from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. Finally, KeyCorp reduced their target price on Tetra Tech from $49.00 to $45.00 and set an "overweight" rating for the company in a research report on Friday, January 31st. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $47.92.
Get Our Latest Research Report on TTEK
Tetra Tech Price Performance
Shares of NASDAQ TTEK traded down $1.09 during midday trading on Thursday, reaching $29.26. 4,200,706 shares of the company traded hands, compared to its average volume of 1,883,748. The firm has a market cap of $7.84 billion, a PE ratio of 30.74 and a beta of 0.93. The stock's 50-day simple moving average is $34.05 and its 200-day simple moving average is $41.17. Tetra Tech, Inc. has a 12 month low of $28.17 and a 12 month high of $51.20. 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 (NASDAQ:TTEK - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.35 earnings per share (EPS) 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, equities analysts anticipate that Tetra Tech, Inc. will post 1.37 earnings per share for the current fiscal year.
Tetra Tech Dividend Announcement
The firm 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. The ex-dividend date was Wednesday, February 12th. This represents a $0.23 dividend on an annualized basis and a dividend yield of 0.79%. Tetra Tech's dividend payout ratio (DPR) is presently 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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