Zacks Investment Management Lowers Stock Holdings in Tetra Tech, Inc. (NASDAQ:TTEK)

Zacks Investment Management lessened its holdings in Tetra Tech, Inc. (NASDAQ:TTEK) by 14.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 465,400 shares of the industrial products company’s stock after selling 80,293 shares during the quarter. Zacks Investment Management’s holdings in Tetra Tech were worth $18,542,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of TTEK. Virtu Financial LLC bought a new stake in Tetra Tech during the 3rd quarter valued at approximately $285,000. Capstone Capital LLC raised its position in shares of Tetra Tech by 400.0% during the third quarter. Capstone Capital LLC now owns 5,075 shares of the industrial products company’s stock valued at $239,000 after buying an additional 4,060 shares during the last quarter. Sanctuary Advisors LLC lifted its holdings in shares of Tetra Tech by 439.7% in the third quarter. Sanctuary Advisors LLC now owns 27,902 shares of the industrial products company’s stock worth $1,316,000 after buying an additional 22,732 shares in the last quarter. World Investment Advisors LLC boosted its position in shares of Tetra Tech by 393.9% during the third quarter. World Investment Advisors LLC now owns 5,680 shares of the industrial products company’s stock worth $268,000 after acquiring an additional 4,530 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in Tetra Tech during the third quarter valued at $522,000. 93.89% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Kirsten M. Volpi sold 10,116 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $34.33, for a total transaction of $347,282.28. Following the completion of the sale, the director now directly owns 60,196 shares of the company’s stock, valued at approximately $2,066,528.68. This trade represents a 14.39 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on TTEK. Royal Bank of Canada set a $49.00 price objective on Tetra Tech in a research report on Friday, January 31st. KeyCorp cut their price target on Tetra Tech from $45.00 to $34.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, Maxim Group cut Tetra Tech from a “strong-buy” rating to a “hold” rating in a report on Friday, April 4th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Tetra Tech currently has a consensus rating of “Moderate Buy” and an average target price of $45.72.

Tetra Tech Trading Down 0.4 %

Shares of TTEK stock opened at $29.85 on Thursday. The company has a market cap of $8.00 billion, a PE ratio of 31.36 and a beta of 0.89. 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’s 50 day simple moving average is $29.80 and its two-hundred day simple moving average is $38.55. Tetra Tech, Inc. has a 1 year low of $27.27 and a 1 year high of $51.20.

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

Tetra Tech Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were issued a dividend of $0.058 per share. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $0.23 annualized dividend and a yield of 0.78%. Tetra Tech’s payout ratio is 24.21%.

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.