Retirement Systems of Alabama Cuts Stake in Tetra Tech, Inc. (NASDAQ:TTEK)

Retirement Systems of Alabama decreased its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 3.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 376,288 shares of the industrial products company's stock after selling 14,188 shares during the quarter. Retirement Systems of Alabama owned about 0.14% of Tetra Tech worth $14,991,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. New England Research & Management Inc. acquired a new stake in Tetra Tech in the 4th quarter valued at $596,000. Harbor Capital Advisors Inc. grew its position 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 purchasing an additional 31,445 shares during the period. Arkadios Wealth Advisors grew 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 valued at $1,052,000 after purchasing an additional 19,193 shares during the period. Perpetual Ltd grew its position in Tetra Tech by 9.6% in the 4th quarter. Perpetual Ltd now owns 215,042 shares of the industrial products company's stock valued at $8,567,000 after purchasing an additional 18,842 shares during the period. Finally, SFE Investment Counsel grew its position in Tetra Tech by 374.8% in the 3rd quarter. SFE Investment Counsel now owns 36,330 shares of the industrial products company's stock valued at $1,713,000 after purchasing an additional 28,679 shares during the period. 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 business's stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $34.33, for a total transaction 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.40% of the company's stock.

Tetra Tech Stock Performance

Shares of NASDAQ:TTEK traded down $0.97 during midday trading on Tuesday, reaching $32.25. The company had a trading volume of 2,407,430 shares, compared to its average volume of 3,627,283. The company's 50 day moving average price is $39.63 and its 200 day moving average price is $43.85. The company has a current ratio of 1.29, a quick ratio of 1.25 and a debt-to-equity ratio of 0.53. The stock has a market cap of $8.64 billion, a P/E ratio of 33.88 and a beta of 0.89. Tetra Tech, Inc. has a 52-week low of $31.09 and a 52-week high of $51.20.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last issued 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 fiscal year.

Tetra Tech Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th will be given a dividend of $0.058 per share. This represents a $0.23 annualized dividend and a dividend yield of 0.72%. The ex-dividend date of this dividend is Wednesday, February 12th. Tetra Tech's dividend payout ratio is presently 24.16%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on TTEK. StockNews.com downgraded shares of Tetra Tech from a "buy" rating to a "hold" rating in a report on Friday, November 15th. Maxim Group downgraded shares of Tetra Tech from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Robert W. Baird lifted their price objective on shares of Tetra Tech from $46.00 to $47.00 and gave the stock a "neutral" rating in a report on Thursday, November 14th. KeyCorp cut their price objective on shares of Tetra Tech from $49.00 to $45.00 and set an "overweight" rating on the stock in a report on Friday, January 31st. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $52.00 price objective on shares of Tetra Tech in a report on Friday, November 15th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $48.52.

Tetra Tech 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.