ProShare Advisors LLC decreased its position in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 1.9% in the second quarter, HoldingsChannel reports. The fund owned 18,459 shares of the industrial products company’s stock after selling 359 shares during the quarter. ProShare Advisors LLC’s holdings in Tetra Tech were worth $2,253,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Tetra Tech during the second quarter valued at approximately $69,000. Acadian Asset Management LLC purchased a new position in shares of Tetra Tech in the first quarter worth $27,000. BDO Wealth Advisors LLC purchased a new position in shares of Tetra Tech in the first quarter worth $29,000. KB Financial Partners LLC purchased a new position in shares of Tetra Tech in the first quarter worth $37,000. Finally, Sound Income Strategies LLC purchased a new position in shares of Tetra Tech in the second quarter worth $35,000. 83.25% of the stock is owned by institutional investors.
Shares of TTEK stock opened at $159.80 on Thursday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.36 and a quick ratio of 1.36. The firm’s 50-day moving average is $145.81 and its two-hundred day moving average is $133.19. Tetra Tech, Inc. has a 12 month low of $99.66 and a 12 month high of $160.61. The company has a market capitalization of $8.64 billion, a PE ratio of 44.89, a price-to-earnings-growth ratio of 2.64 and a beta of 0.82.
Tetra Tech declared that its board has approved a stock repurchase program on Thursday, October 7th that permits the company to buyback $400.00 million in shares. This buyback authorization permits the industrial products company to reacquire up to 4.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 3rd. Investors of record on Friday, August 20th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend was Thursday, August 19th. Tetra Tech’s payout ratio is currently 24.54%.
In related news, SVP Bernard Teufele sold 860 shares of the company’s stock in a transaction that occurred on Wednesday, August 11th. The shares were sold at an average price of $138.42, for a total transaction of $119,041.20. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director J Christopher Lewis sold 850 shares of the company’s stock in a transaction that occurred on Monday, August 30th. The stock was sold at an average price of $143.11, for a total transaction of $121,643.50. Following the sale, the director now directly owns 68,626 shares in the company, valued at $9,821,066.86. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,066 shares of company stock worth $2,395,443. 1.65% of the stock is owned by insiders.
Separately, Zacks Investment Research cut shares of Tetra Tech from a “buy” rating to a “hold” rating and set a $149.00 target price for the company. in a report on Friday, August 13th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $142.80.
Tetra Tech Company Profile
Tetra Tech, Inc engages in the provision of consulting and engineering services. It operates through the following segments: Government Services Group (GSG); Commercial and International Services Group (CIG); and Remediation and Construction Management (RCM). The GSG segment offers consulting and engineering services primarily to United States government clients such as federal, state and local, and development agencies worldwide.
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