Tetra Tech, Inc. (NASDAQ:TTEK) Short Interest Up 66.5% in February

Tetra Tech, Inc. (NASDAQ:TTEK) was the recipient of a large growth in short interest in February. As of February 15th, there was short interest totalling 7,910,000 shares, a growth of 66.5% from the January 31st total of 4,750,000 shares. Based on an average trading volume of 2,750,000 shares, the days-to-cover ratio is currently 2.9 days.

Insider Buying and Selling at Tetra Tech

In other Tetra Tech news, Director Kirsten M. Volpi sold 10,116 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were 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 directly owns 60,196 shares in the company, valued at approximately $2,066,528.68. This trade represents a 14.39 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tetra Tech

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Tetra Tech by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 25,912,103 shares of the industrial products company’s stock worth $1,032,338,000 after acquiring an additional 127,757 shares during the last quarter. Pictet Asset Management Holding SA boosted its position in shares of Tetra Tech by 2.8% in the fourth quarter. Pictet Asset Management Holding SA now owns 14,018,887 shares of the industrial products company’s stock worth $558,512,000 after acquiring an additional 381,437 shares during the last quarter. Amundi boosted its position in shares of Tetra Tech by 2.5% in the fourth quarter. Amundi now owns 4,873,176 shares of the industrial products company’s stock worth $194,314,000 after acquiring an additional 117,304 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Tetra Tech by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 4,729,696 shares of the industrial products company’s stock worth $188,487,000 after acquiring an additional 13,616 shares during the last quarter. Finally, Norges Bank acquired a new position in Tetra Tech during the fourth quarter valued at approximately $121,390,000. 93.89% of the stock is owned by institutional investors and hedge funds.

Tetra Tech Trading Down 1.8 %

Shares of NASDAQ TTEK traded down $0.52 during midday trading on Friday, reaching $29.19. 4,326,482 shares of the stock were exchanged, compared to its average volume of 3,355,938. The company has a market capitalization of $7.82 billion, a P/E ratio of 30.66 and a beta of 0.89. Tetra Tech has a 52-week low of $28.98 and a 52-week high of $51.20. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.53. The stock has a 50 day moving average price of $36.62 and a 200-day moving average price of $42.60.

Tetra Tech (NASDAQ:TTEK) last issued its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $0.35 EPS 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%. Equities research analysts expect that Tetra Tech will post 1.37 earnings per share for the current fiscal year.

Tetra Tech Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were given a $0.058 dividend. The ex-dividend date was Wednesday, February 12th. This represents a $0.23 annualized dividend and a dividend yield of 0.79%. Tetra Tech’s dividend payout ratio is presently 24.21%.

Analysts Set New Price Targets

Several research firms have weighed in on TTEK. StockNews.com downgraded shares of Tetra Tech from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Royal Bank of Canada set a $49.00 target price on shares of Tetra Tech in a report on Friday, January 31st. KeyCorp dropped their target price on shares of Tetra Tech from $49.00 to $45.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Maxim Group downgraded shares of Tetra Tech from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Finally, Robert W. Baird lifted their price target 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 analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Tetra Tech currently has an average rating of “Moderate Buy” and a consensus target price of $47.92.

Tetra Tech Company 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.