Martingale Asset Management L P Sells 413,224 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

Martingale Asset Management L P cut its stake in Tetra Tech, Inc. (NASDAQ:TTEK) by 87.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 57,537 shares of the industrial products company’s stock after selling 413,224 shares during the quarter. Martingale Asset Management L P’s holdings in Tetra Tech were worth $2,292,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Advisory Services Network LLC boosted its stake in shares of Tetra Tech by 293.8% in the 4th quarter. Advisory Services Network LLC now owns 8,184 shares of the industrial products company’s stock worth $326,000 after buying an additional 6,106 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Tetra Tech by 150.3% during the 4th quarter. Renaissance Technologies LLC now owns 654,800 shares of the industrial products company’s stock worth $26,087,000 after purchasing an additional 393,200 shares during the period. Bank of Nova Scotia boosted its holdings in shares of Tetra Tech by 24.1% in the 4th quarter. Bank of Nova Scotia now owns 641,860 shares of the industrial products company’s stock worth $25,572,000 after buying an additional 124,619 shares during the last quarter. Rathbones Group PLC grew its position in Tetra Tech by 87.0% during the fourth quarter. Rathbones Group PLC now owns 23,285 shares of the industrial products company’s stock valued at $928,000 after buying an additional 10,835 shares during the period. Finally, Aviva PLC increased its holdings in Tetra Tech by 46.4% during the fourth quarter. Aviva PLC now owns 823,738 shares of the industrial products company’s stock worth $32,818,000 after buying an additional 260,913 shares during the last quarter. Hedge funds and other institutional investors own 93.89% of the company’s stock.

Insider Activity 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 stock was sold at an average price of $34.33, for a total value of $347,282.28. Following the sale, the director now owns 60,196 shares of the company’s stock, valued at $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 is available at this link. 0.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on TTEK shares. KeyCorp dropped their target price on shares of Tetra Tech from $49.00 to $45.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Maxim Group lowered Tetra Tech from a “strong-buy” rating to a “hold” rating in a report on Friday, April 4th. Finally, Royal Bank of Canada set a $49.00 price target on Tetra Tech in a research report on Friday, January 31st. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $47.92.

Tetra Tech Trading Down 2.0 %

Shares of TTEK stock opened at $29.26 on Friday. Tetra Tech, Inc. has a 1 year low of $27.27 and a 1 year high of $51.20. The company’s fifty day simple moving average is $30.03 and its two-hundred day simple moving average is $38.89. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.29 and a quick ratio of 1.29. The stock has a market capitalization of $7.84 billion, a price-to-earnings ratio of 30.74 and a beta of 0.89.

Tetra Tech (NASDAQ:TTEK) last released its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.35 earnings per share (EPS) for the quarter, beating 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, analysts anticipate that Tetra Tech, Inc. will post 1.37 earnings per share for the current year.

Tetra Tech Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.79%. Tetra Tech’s dividend payout ratio (DPR) is currently 24.21%.

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.