State Street Corp raised its position in Tetra Tech, Inc. (NASDAQ:TTEK) by 6.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,428,061 shares of the industrial products company’s stock after buying an additional 90,381 shares during the period. State Street Corp owned 2.50% of Tetra Tech worth $58,339,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the company. Victory Capital Management Inc. acquired a new position in shares of Tetra Tech during the first quarter worth $185,000. LS Investment Advisors LLC raised its position in shares of Tetra Tech by 117.6% in the first quarter. LS Investment Advisors LLC now owns 4,872 shares of the industrial products company’s stock worth $199,000 after buying an additional 2,633 shares in the last quarter. US Bancorp DE raised its position in shares of Tetra Tech by 69.9% in the first quarter. US Bancorp DE now owns 5,416 shares of the industrial products company’s stock worth $221,000 after buying an additional 2,228 shares in the last quarter. Cim Investment Mangement Inc. acquired a new position in shares of Tetra Tech during the first quarter worth $249,000. Finally, State of Alaska Department of Revenue raised its position in shares of Tetra Tech by 1.8% in the first quarter. State of Alaska Department of Revenue now owns 6,330 shares of the industrial products company’s stock worth $258,000 after buying an additional 110 shares in the last quarter. Hedge funds and other institutional investors own 84.87% of the company’s stock.
Shares of Tetra Tech, Inc. (NASDAQ:TTEK) opened at 46.85 on Friday. Tetra Tech, Inc. has a 52 week low of $32.06 and a 52 week high of $47.75. The company has a 50-day moving average of $46.15 and a 200-day moving average of $43.29. The stock has a market capitalization of $2.68 billion, a P/E ratio of 24.72 and a beta of 1.02.
Tetra Tech (NASDAQ:TTEK) last posted its quarterly earnings results on Wednesday, May 3rd. The industrial products company reported $0.48 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.02. Tetra Tech had a return on equity of 13.70% and a net margin of 4.04%. The business had revenue of $511.95 million during the quarter, compared to the consensus estimate of $491.60 million. During the same period in the prior year, the company posted $0.37 EPS. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, analysts anticipate that Tetra Tech, Inc. will post $2.22 EPS for the current year.
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A number of equities analysts have weighed in on TTEK shares. Zacks Investment Research upgraded shares of Tetra Tech from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a research report on Tuesday, July 4th. BidaskClub lowered shares of Tetra Tech from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 21st. Canaccord Genuity restated a “buy” rating and issued a $52.00 price objective on shares of Tetra Tech in a research report on Wednesday, June 7th. Sidoti restated a “buy” rating and issued a $58.00 price objective (up from $55.00) on shares of Tetra Tech in a research report on Sunday, May 14th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $50.00 price objective on shares of Tetra Tech in a research report on Friday, July 7th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Tetra Tech presently has a consensus rating of “Buy” and an average price target of $47.89.
In other Tetra Tech news, CFO Steven M. Burdick sold 16,750 shares of the company’s stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $44.87, for a total value of $751,572.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Dan L. Batrack sold 1,117 shares of the company’s stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $45.00, for a total value of $50,265.00. Following the completion of the transaction, the chief executive officer now owns 214,128 shares of the company’s stock, valued at $9,635,760. The disclosure for this sale can be found here. Insiders sold a total of 354,464 shares of company stock valued at $16,197,699 over the last 90 days. 3.80% of the stock is currently owned by corporate insiders.
About Tetra Tech
Tetra Tech, Inc is a provider of consulting, engineering, program management, construction management, and technical services. The Company’s segments include Water, Environment and Infrastructure (WEI), Resource Management and Energy (RME), and Remediation and Construction Management (RCM). The WEI segment provides consulting and engineering services.
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