Rainier Investment Management LLC trimmed its position in Tetra Tech, Inc. (NASDAQ:TTEK) by 20.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 90,480 shares of the industrial products company’s stock after selling 23,440 shares during the period. Tetra Tech comprises approximately 1.8% of Rainier Investment Management LLC’s holdings, making the stock its 13th largest holding. Rainier Investment Management LLC’s holdings in Tetra Tech were worth $4,357,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in the business. CIBC Asset Management Inc acquired a new position in shares of Tetra Tech in the fourth quarter worth about $205,000. Rockefeller Financial Services Inc. boosted its holdings in shares of Tetra Tech by 136.6% in the fourth quarter. Rockefeller Financial Services Inc. now owns 50,850 shares of the industrial products company’s stock worth $2,448,000 after buying an additional 29,355 shares during the period. Aperio Group LLC boosted its holdings in shares of Tetra Tech by 7.8% in the fourth quarter. Aperio Group LLC now owns 28,017 shares of the industrial products company’s stock worth $1,349,000 after buying an additional 2,039 shares during the period. Fortaleza Asset Management Inc. acquired a new position in shares of Tetra Tech in the fourth quarter worth about $206,000. Finally, Boston Partners boosted its holdings in shares of Tetra Tech by 4.4% in the fourth quarter. Boston Partners now owns 1,079,262 shares of the industrial products company’s stock worth $51,967,000 after buying an additional 45,770 shares during the period. Institutional investors own 85.01% of the company’s stock.
Several research analysts have commented on the stock. Canaccord Genuity reiterated a “buy” rating and issued a $60.00 target price on shares of Tetra Tech in a report on Thursday. Zacks Investment Research upgraded shares of Tetra Tech from a “hold” rating to a “buy” rating and set a $59.00 target price for the company in a report on Friday. BidaskClub cut shares of Tetra Tech from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 9th. Robert W. Baird raised their target price on shares of Tetra Tech from $47.00 to $52.00 and gave the stock a “neutral” rating in a report on Friday, November 10th. Finally, ValuEngine cut shares of Tetra Tech from a “buy” rating to a “hold” rating in a report on Wednesday, December 20th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Tetra Tech currently has a consensus rating of “Buy” and an average price target of $54.57.
Shares of Tetra Tech, Inc. (NASDAQ:TTEK) opened at $50.65 on Monday. The company has a current ratio of 2.25, a quick ratio of 2.25 and a debt-to-equity ratio of 0.46. The company has a market cap of $2,828.85, a P/E ratio of 22.12, a P/E/G ratio of 1.49 and a beta of 1.02. Tetra Tech, Inc. has a fifty-two week low of $38.85 and a fifty-two week high of $53.40.
Tetra Tech (NASDAQ:TTEK) last posted its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.53 by $0.12. The business had revenue of $544.85 million during the quarter, compared to analysts’ expectations of $510.22 million. Tetra Tech had a net margin of 4.83% and a return on equity of 14.26%. The firm’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period last year, the company posted $0.49 earnings per share. analysts anticipate that Tetra Tech, Inc. will post 2.52 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Investors of record on Wednesday, February 14th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.79%. The ex-dividend date of this dividend is Tuesday, February 13th. Tetra Tech’s dividend payout ratio is currently 16.74%.
In related news, SVP Roger R. Argus sold 1,138 shares of the firm’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $49.63, for a total transaction of $56,478.94. Following the transaction, the senior vice president now owns 6,948 shares of the company’s stock, valued at $344,829.24. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Ronald J. Chu sold 42,395 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $50.00, for a total transaction of $2,119,750.00. Following the transaction, the executive vice president now directly owns 58,624 shares in the company, valued at approximately $2,931,200. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 217,211 shares of company stock valued at $10,645,510. 3.40% of the stock is currently owned by corporate insiders.
About Tetra Tech
Tetra Tech, Inc is a provider of consulting, engineering, program management, construction management, and technical services. The Company’s segments include Water, Environment and Infrastructure (WEI), Resource Management and Energy (RME), and Remediation and Construction Management (RCM). The WEI segment provides consulting and engineering services.
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