Whittier Trust Co. of Nevada Inc. continued to hold its stake in Tetra Tech, Inc. (NASDAQ:TTEK) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,500 shares of the industrial products company’s stock at the end of the second quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Tetra Tech were worth $114,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in Tetra Tech by 12,066.6% in the first quarter. BlackRock Inc. now owns 8,135,829 shares of the industrial products company’s stock valued at $332,349,000 after buying an additional 8,068,959 shares during the period. Philadelphia Trust Co. boosted its stake in Tetra Tech by 2.4% in the fourth quarter. Philadelphia Trust Co. now owns 38,104 shares of the industrial products company’s stock valued at $1,644,000 after buying an additional 900 shares during the period. Independent Portfolio Consultants Inc. boosted its stake in Tetra Tech by 4.1% in the first quarter. Independent Portfolio Consultants Inc. now owns 18,315 shares of the industrial products company’s stock valued at $748,000 after buying an additional 720 shares during the period. Ameriprise Financial Inc. boosted its stake in Tetra Tech by 2.2% in the first quarter. Ameriprise Financial Inc. now owns 427,371 shares of the industrial products company’s stock valued at $17,459,000 after buying an additional 9,384 shares during the period. Finally, Macquarie Group Ltd. boosted its stake in Tetra Tech by 17.0% in the fourth quarter. Macquarie Group Ltd. now owns 1,198,396 shares of the industrial products company’s stock valued at $51,711,000 after buying an additional 174,539 shares during the period. 85.17% of the stock is owned by institutional investors.
Tetra Tech, Inc. (TTEK) traded down 11.56% during mid-day trading on Thursday, reaching $40.95. 376,675 shares of the company’s stock traded hands. The stock’s 50 day moving average is $46.27 and its 200-day moving average is $43.57. The stock has a market capitalization of $2.34 billion, a PE ratio of 21.61 and a beta of 1.03. Tetra Tech, Inc. has a 52 week low of $32.63 and a 52 week high of $48.35.
Tetra Tech (NASDAQ:TTEK) last released its quarterly earnings data on Wednesday, May 3rd. The industrial products company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.02. Tetra Tech had a net margin of 4.04% and a return on equity of 13.70%. The company had revenue of $511.95 million for the quarter, compared to analysts’ expectations of $491.60 million. During the same quarter last year, the company earned $0.37 earnings per share. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, equities analysts anticipate that Tetra Tech, Inc. will post $2.22 EPS for the current year.
Several equities research analysts have issued reports on TTEK shares. Zacks Investment Research raised shares of Tetra Tech from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a research report on Tuesday, July 4th. Stifel Nicolaus restated a “hold” rating and issued a $50.00 price target on shares of Tetra Tech in a report on Friday, July 7th. BidaskClub lowered shares of Tetra Tech from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 21st. Canaccord Genuity restated a “buy” rating and issued a $52.00 price target on shares of Tetra Tech in a report on Wednesday, June 7th. Finally, Sidoti restated a “buy” rating and issued a $58.00 price target (up previously from $55.00) on shares of Tetra Tech in a report on Sunday, May 14th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $49.75.
In other news, insider William R. Brownlie sold 16,750 shares of Tetra Tech stock in a transaction on Monday, May 8th. The shares were sold at an average price of $46.30, for a total value of $775,525.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Brian N. Carter sold 3,396 shares of Tetra Tech stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $46.20, for a total transaction of $156,895.20. Following the completion of the transaction, the senior vice president now owns 7,243 shares in the company, valued at $334,626.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 70,396 shares of company stock worth $3,230,688. 3.80% of the stock is owned by corporate insiders.
Tetra Tech Company Profile
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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