Raymond James Financial Inc. acquired a new stake in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 216,134 shares of the industrial products company's stock, valued at approximately $8,611,000. Raymond James Financial Inc. owned 0.08% of Tetra Tech at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in TTEK. Canton Hathaway LLC raised its stake in Tetra Tech by 400.0% in the 3rd quarter. Canton Hathaway LLC now owns 645 shares of the industrial products company's stock valued at $30,000 after acquiring an additional 516 shares during the period. Banque Cantonale Vaudoise lifted its stake in shares of Tetra Tech by 400.0% during the 3rd quarter. Banque Cantonale Vaudoise now owns 695 shares of the industrial products company's stock valued at $33,000 after buying an additional 556 shares in the last quarter. Millburn Ridgefield Corp boosted its holdings in Tetra Tech by 346.9% in the 3rd quarter. Millburn Ridgefield Corp now owns 800 shares of the industrial products company's stock worth $37,000 after buying an additional 621 shares during the period. R Squared Ltd purchased a new position in Tetra Tech in the 4th quarter valued at approximately $39,000. Finally, Asset Planning Inc bought a new stake in Tetra Tech during the 4th quarter valued at $40,000. 93.89% of the stock is owned by hedge funds and other institutional investors.
Tetra Tech Price Performance
Shares of NASDAQ:TTEK traded down $0.11 on Wednesday, hitting $29.33. The company's stock had a trading volume of 1,187,341 shares, compared to its average volume of 1,908,524. The company has a market capitalization of $7.86 billion, a PE ratio of 30.81 and a beta of 0.93. 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 company has a 50-day simple moving average of $32.91 and a 200 day simple moving average of $40.56. Tetra Tech, Inc. has a 1 year low of $28.17 and a 1 year high of $51.20.
Tetra Tech (NASDAQ:TTEK - Get Free Report) last announced its earnings results on Wednesday, January 29th. The industrial products company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.01. Tetra Tech had a net margin of 4.81% and a return on equity of 22.58%. Sell-side analysts forecast that Tetra Tech, Inc. will post 1.37 EPS for the current fiscal year.
Tetra Tech Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were paid a $0.058 dividend. This represents a $0.23 annualized dividend and a yield of 0.79%. The ex-dividend date of this dividend was 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 the company's stock in a transaction 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 sale, the director now owns 60,196 shares of the company's stock, valued at approximately $2,066,528.68. This represents a 14.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.40% of the company's stock.
Analysts Set New Price Targets
A number of equities analysts have recently commented on TTEK shares. KeyCorp cut their price target 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 downgraded 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 Tetra Tech in a 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 company's stock. According to data from MarketBeat.com, Tetra Tech currently has an average rating of "Moderate Buy" and an average target price of $47.92.
Read Our Latest Report on TTEK
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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