Truist Financial Corp decreased its position in shares of Tetra Tech, Inc. (NASDAQ:TTEK – Free Report) by 45.2% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 12,836 shares of the industrial products company’s stock after selling 10,580 shares during the period. Truist Financial Corp’s holdings in Tetra Tech were worth $2,143,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Contravisory Investment Management Inc. purchased a new position in shares of Tetra Tech during the 4th quarter worth $26,000. Millburn Ridgefield Corp acquired a new position in Tetra Tech in the third quarter valued at $37,000. GAMMA Investing LLC acquired a new stake in Tetra Tech in the 4th quarter worth about $38,000. McGlone Suttner Wealth Management Inc. purchased a new stake in Tetra Tech in the 4th quarter valued at about $89,000. Finally, Fifth Third Bancorp increased its stake in shares of Tetra Tech by 39.1% during the 3rd quarter. Fifth Third Bancorp now owns 718 shares of the industrial products company’s stock valued at $109,000 after acquiring an additional 202 shares during the last quarter. Institutional investors and hedge funds own 93.89% of the company’s stock.
Insider Activity
In related news, Director J Kenneth Thompson sold 3,500 shares of the stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $177.24, for a total value of $620,340.00. Following the completion of the transaction, the director now owns 10,985 shares of the company’s stock, valued at $1,946,981.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Steven M. Burdick sold 7,515 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $175.67, for a total value of $1,320,160.05. Following the completion of the sale, the chief financial officer now owns 29,890 shares of the company’s stock, valued at approximately $5,250,776.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director J Kenneth Thompson sold 3,500 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $177.24, for a total transaction of $620,340.00. Following the completion of the sale, the director now owns 10,985 shares in the company, valued at approximately $1,946,981.40. The disclosure for this sale can be found here. Insiders own 0.61% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on TTEK shares. Northcoast Research upgraded shares of Tetra Tech from a “neutral” rating to a “buy” rating and set a $225.00 price target on the stock in a report on Thursday, May 2nd. Robert W. Baird boosted their price target on Tetra Tech from $180.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. Maxim Group raised their price objective on Tetra Tech from $220.00 to $230.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Royal Bank of Canada boosted their target price on Tetra Tech from $203.00 to $233.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Finally, KeyCorp raised their price target on shares of Tetra Tech from $209.00 to $219.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $221.40.
View Our Latest Analysis on TTEK
Tetra Tech Price Performance
TTEK stock opened at $212.36 on Friday. The stock has a 50-day simple moving average of $189.50 and a 200-day simple moving average of $173.06. The firm has a market cap of $11.36 billion, a P/E ratio of 42.99 and a beta of 0.93. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.25 and a current ratio of 1.24. Tetra Tech, Inc. has a 1 year low of $132.29 and a 1 year high of $216.24.
Tetra Tech (NASDAQ:TTEK – Get Free Report) last issued its quarterly earnings data on Wednesday, May 1st. The industrial products company reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.13. Tetra Tech had a net margin of 5.36% and a return on equity of 21.16%. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter last year, the company earned $1.17 earnings per share. Tetra Tech’s revenue for the quarter was down 9.5% on a year-over-year basis. On average, equities analysts predict that Tetra Tech, Inc. will post 6.2 earnings per share for the current fiscal year.
Tetra Tech Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Monday, May 20th will be given a $0.29 dividend. This is a boost from Tetra Tech’s previous quarterly dividend of $0.26. This represents a $1.16 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date is Friday, May 17th. Tetra Tech’s dividend payout ratio is presently 23.48%.
About Tetra Tech
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.
Recommended Stories
Want to see what other hedge funds are holding TTEK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tetra Tech, Inc. (NASDAQ:TTEK – Free Report).
Receive News & Ratings for Tetra Tech Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Tetra Tech and related companies with MarketBeat.com’s FREE daily email newsletter.
Source: defenseworld.net
