Prudential Financial Inc. Reduces Stock Position in Tetra Tech, Inc. (NASDAQ:TTEK)

Prudential Financial Inc. reduced its position in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 41.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,380 shares of the industrial products company's stock after selling 18,426 shares during the quarter. Prudential Financial Inc.'s holdings in Tetra Tech were worth $1,051,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Walleye Capital LLC grew its position in Tetra Tech by 2,141.2% during the 3rd quarter. Walleye Capital LLC now owns 6,096 shares of the industrial products company's stock worth $287,000 after purchasing an additional 5,824 shares during the last quarter. Captrust Financial Advisors grew its holdings in shares of Tetra Tech by 463.7% during the third quarter. Captrust Financial Advisors now owns 24,724 shares of the industrial products company's stock worth $1,166,000 after buying an additional 20,338 shares during the last quarter. HighTower Advisors LLC increased its position in Tetra Tech by 436.3% in the 3rd quarter. HighTower Advisors LLC now owns 124,407 shares of the industrial products company's stock valued at $5,883,000 after acquiring an additional 101,208 shares during the period. Janus Henderson Group PLC raised its stake in Tetra Tech by 404.2% during the 3rd quarter. Janus Henderson Group PLC now owns 213,123 shares of the industrial products company's stock valued at $10,048,000 after acquiring an additional 170,856 shares during the last quarter. Finally, Integrated Wealth Concepts LLC lifted its position in Tetra Tech by 344.0% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 19,973 shares of the industrial products company's stock worth $942,000 after acquiring an additional 15,475 shares during the period. 93.89% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Transactions at Tetra Tech

In other Tetra Tech news, Director Kirsten M. Volpi sold 10,116 shares of the business'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 sale, the director now directly 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.40% of the company's stock.

Tetra Tech Price Performance

Shares of Tetra Tech stock traded up $0.93 during trading on Friday, reaching $30.19. The company's stock had a trading volume of 1,957,705 shares, compared to its average volume of 2,007,587. The business has a 50 day moving average price of $30.03 and a 200-day moving average price of $38.89. The company has a market capitalization of $8.09 billion, a P/E ratio of 31.71 and a beta of 0.89. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.53. Tetra Tech, Inc. has a 12-month low of $27.27 and a 12-month high of $51.20.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $0.35 earnings per share for the quarter, topping 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, sell-side analysts anticipate that Tetra Tech, Inc. will post 1.37 EPS for the current year.

Tetra Tech Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $0.23 dividend on an annualized basis and a dividend yield of 0.77%. Tetra Tech's payout ratio is 24.21%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on TTEK shares. KeyCorp dropped 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. Royal Bank of Canada set a $49.00 price objective on shares of Tetra Tech in a research note on Friday, January 31st. Finally, Maxim Group cut 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 assigned a buy rating to the stock. Based on data from MarketBeat, the stock 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.