Crossmark Global Holdings Inc. cut its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK – Get Rating) by 3.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,260 shares of the industrial products company’s stock after selling 160 shares during the period. Crossmark Global Holdings Inc.’s holdings in Tetra Tech were worth $548,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Millennium Management LLC grew its position in Tetra Tech by 1,602.0% during the 2nd quarter. Millennium Management LLC now owns 469,018 shares of the industrial products company’s stock worth $64,044,000 after purchasing an additional 441,461 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in Tetra Tech by 669.8% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 439,408 shares of the industrial products company’s stock worth $59,999,000 after purchasing an additional 382,324 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Tetra Tech in the 2nd quarter worth approximately $36,885,000. Pictet Asset Management SA lifted its stake in Tetra Tech by 5.8% in the 2nd quarter. Pictet Asset Management SA now owns 2,577,458 shares of the industrial products company’s stock worth $351,989,000 after purchasing an additional 141,932 shares in the last quarter. Finally, Walleye Capital LLC acquired a new stake in shares of Tetra Tech during the 1st quarter worth approximately $19,880,000. 85.28% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on TTEK shares. Maxim Group raised their price target on shares of Tetra Tech from $190.00 to $200.00 in a report on Friday, November 11th. StockNews.com raised shares of Tetra Tech from a “hold” rating to a “buy” rating in a research report on Saturday, December 17th.
Tetra Tech Trading Up 3.7 %
Shares of Tetra Tech stock opened at $151.91 on Monday. Tetra Tech, Inc. has a 52-week low of $118.55 and a 52-week high of $169.95. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.21. The company’s 50-day simple moving average is $149.79 and its 200-day simple moving average is $142.57. The firm has a market cap of $8.09 billion, a price-to-earnings ratio of 31.19 and a beta of 0.93.
Tetra Tech (NASDAQ:TTEK – Get Rating) last announced its quarterly earnings results on Wednesday, November 9th. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.09. Tetra Tech had a net margin of 7.51% and a return on equity of 20.02%. The company had revenue of $736.10 million for the quarter, compared to the consensus estimate of $712.86 million. During the same quarter in the prior year, the firm earned $1.05 earnings per share. The company’s revenue for the quarter was up 11.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Tetra Tech, Inc. will post 4.84 earnings per share for the current year.
Tetra Tech Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, December 9th. Investors of record on Monday, November 21st were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 0.61%. The ex-dividend date of this dividend was Friday, November 18th. Tetra Tech’s dividend payout ratio (DPR) is 18.89%.
Insider Buying and Selling
In related news, Director J Kenneth Thompson sold 3,500 shares of the firm’s stock in a transaction on Monday, November 14th. The shares were sold at an average price of $158.98, for a total transaction of $556,430.00. Following the completion of the sale, the director now directly owns 23,308 shares of the company’s stock, valued at approximately $3,705,505.84. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Tetra Tech news, Director J Kenneth Thompson sold 3,500 shares of the stock in a transaction on Monday, November 14th. The shares were sold at an average price of $158.98, for a total transaction of $556,430.00. Following the transaction, the director now directly owns 23,308 shares in the company, valued at approximately $3,705,505.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Dan L. Batrack sold 30,000 shares of the firm’s stock in a transaction dated Thursday, December 15th. The stock was sold at an average price of $153.63, for a total transaction of $4,608,900.00. Following the completion of the transaction, the chief executive officer now owns 48,487 shares in the company, valued at $7,449,057.81. The disclosure for this sale can be found here. Over the last quarter, insiders sold 58,580 shares of company stock valued at $9,093,178. Insiders own 0.76% of the company’s stock.
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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