Sumitomo Mitsui DS Asset Management Company Ltd Trims Stake in Tetra Tech, Inc. (NASDAQ:TTEK)

Sumitomo Mitsui DS Asset Management Company Ltd lessened its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 6.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 178,068 shares of the industrial products company's stock after selling 11,655 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd owned about 0.07% of Tetra Tech worth $7,094,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. New England Research & Management Inc. bought a new stake in Tetra Tech during the 4th quarter valued at $596,000. Harbor Capital Advisors Inc. raised its holdings in shares of Tetra Tech by 630.8% in the third quarter. Harbor Capital Advisors Inc. now owns 36,430 shares of the industrial products company's stock valued at $1,718,000 after acquiring an additional 31,445 shares in the last quarter. Arkadios Wealth Advisors grew its holdings in Tetra Tech by 615.8% during the 3rd quarter. Arkadios Wealth Advisors now owns 22,310 shares of the industrial products company's stock worth $1,052,000 after acquiring an additional 19,193 shares in the last quarter. Perpetual Ltd increased its position in Tetra Tech by 9.6% during 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 raised its holdings in shares of 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 in the last quarter. Hedge funds and other institutional investors own 93.89% of the company's stock.

Insider Transactions at Tetra Tech

In other news, Director Kirsten M. Volpi sold 10,116 shares of the firm's stock in a transaction dated 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 transaction, the director now directly owns 60,196 shares in the company, valued at $2,066,528.68. This trade represents a 14.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.40% of the company's stock.

Tetra Tech Stock Down 2.9 %

TTEK stock traded down $0.97 on Tuesday, hitting $32.25. 2,407,430 shares of the company's stock were exchanged, compared to its average volume of 3,627,283. The firm has a 50 day moving average price of $39.63 and a two-hundred day moving average price of $43.85. Tetra Tech, Inc. has a 12-month low of $31.09 and a 12-month high of $51.20. The stock has a market cap of $8.64 billion, a P/E ratio of 33.88 and a beta of 0.89. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.25 and a current ratio of 1.29.

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 return on equity of 22.58% and a net margin of 4.81%. As a group, equities research analysts expect 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. Shareholders of record on Wednesday, February 12th will be issued a $0.058 dividend. The ex-dividend date is Wednesday, February 12th. This represents a $0.23 dividend on an annualized basis and a dividend yield of 0.72%. Tetra Tech's dividend payout ratio is currently 24.16%.

Wall Street Analyst Weigh In

TTEK has been the topic of a number of recent research reports. Maxim Group downgraded shares of Tetra Tech from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. StockNews.com cut Tetra Tech from a "buy" rating to a "hold" rating in a research report on Friday, November 15th. Royal Bank of Canada reissued an "outperform" rating and issued a $52.00 price target on shares of Tetra Tech in a research report on Friday, November 15th. KeyCorp dropped their price objective 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. Finally, 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 report on Thursday, November 14th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Tetra Tech currently has an average rating of "Moderate Buy" and a consensus target price 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.