Principal Financial Group Inc. Sells 134,985 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

Principal Financial Group Inc. reduced its position in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 17.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 619,717 shares of the industrial products company's stock after selling 134,985 shares during the period. Principal Financial Group Inc. owned 0.23% of Tetra Tech worth $24,690,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. New England Research & Management Inc. acquired a new stake in shares of Tetra Tech in the fourth quarter valued at about $596,000. Harbor Capital Advisors Inc. grew its holdings in Tetra Tech by 630.8% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 36,430 shares of the industrial products company's stock valued at $1,718,000 after buying an additional 31,445 shares during the last quarter. Arkadios Wealth Advisors increased its position in Tetra Tech by 615.8% in the 3rd quarter. Arkadios Wealth Advisors now owns 22,310 shares of the industrial products company's stock worth $1,052,000 after buying an additional 19,193 shares during the period. Lecap Asset Management Ltd. lifted its holdings in shares of Tetra Tech by 71.3% during the fourth quarter. Lecap Asset Management Ltd. now owns 44,769 shares of the industrial products company's stock worth $1,784,000 after buying an additional 18,635 shares during the last quarter. Finally, Perpetual Ltd boosted its position in shares of Tetra Tech by 9.6% in the fourth quarter. Perpetual Ltd now owns 215,042 shares of the industrial products company's stock valued at $8,567,000 after acquiring an additional 18,842 shares during the period. 93.89% of the stock is currently owned by institutional investors and hedge funds.

Tetra Tech Price Performance

TTEK traded up $0.28 during midday trading on Tuesday, reaching $30.30. 2,007,442 shares of the company's stock were exchanged, compared to its average volume of 3,336,583. 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 business has a 50-day simple moving average of $37.50 and a two-hundred day simple moving average of $43.05. The firm has a market capitalization of $8.12 billion, a price-to-earnings ratio of 31.83 and a beta of 0.89. Tetra Tech, Inc. has a one year low of $29.23 and a one year high of $51.20.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last announced its quarterly earnings results 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%. As a group, research analysts predict that Tetra Tech, Inc. will post 1.37 EPS for the current year.

Tetra Tech Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th will be issued a dividend of $0.058 per share. This represents a $0.23 annualized dividend and a yield of 0.77%. The ex-dividend date is Wednesday, February 12th. Tetra Tech's dividend payout ratio is currently 24.21%.

Insider Buying and Selling at Tetra Tech

In other news, Director Kirsten M. Volpi sold 10,116 shares of Tetra Tech stock in a transaction that occurred on Tuesday, February 4th. The shares were 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 in the company, valued at approximately $2,066,528.68. The trade was a 14.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.40% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on TTEK shares. Robert W. Baird boosted their target price on shares of Tetra Tech from $46.00 to $47.00 and gave the stock a "neutral" rating in a research report on Thursday, November 14th. StockNews.com lowered shares of Tetra Tech from a "buy" rating to a "hold" rating in a research report on Friday, November 15th. KeyCorp decreased their target price on Tetra Tech from $49.00 to $45.00 and set an "overweight" rating on the stock in a research report on Friday, January 31st. Maxim Group cut Tetra Tech from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Finally, Royal Bank of Canada set a $49.00 price objective on Tetra Tech in a research report on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Tetra Tech currently has a consensus rating of "Moderate Buy" and a consensus price target 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.