PNC Financial Services Group Inc. trimmed its position in Tetra Tech, Inc. (NASDAQ:TTEK) by 10.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,107 shares of the industrial products company’s stock after selling 1,861 shares during the period. PNC Financial Services Group Inc.’s holdings in Tetra Tech were worth $1,275,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the business. FMR LLC increased its stake in Tetra Tech by 3,220.5% in the 1st quarter. FMR LLC now owns 23,210 shares of the industrial products company’s stock worth $1,383,000 after buying an additional 22,511 shares during the period. Swiss National Bank boosted its holdings in Tetra Tech by 1.3% during the first quarter. Swiss National Bank now owns 105,900 shares of the industrial products company’s stock worth $7,479,000 after buying an additional 1,400 shares in the last quarter. JPMorgan Chase & Co. grew its position in Tetra Tech by 23.4% during the first quarter. JPMorgan Chase & Co. now owns 159,700 shares of the industrial products company’s stock valued at $11,278,000 after buying an additional 30,249 shares during the period. GSA Capital Partners LLP grew its position in Tetra Tech by 62.5% during the first quarter. GSA Capital Partners LLP now owns 7,499 shares of the industrial products company’s stock valued at $530,000 after buying an additional 2,883 shares during the period. Finally, Victory Capital Management Inc. increased its holdings in Tetra Tech by 1.1% in the first quarter. Victory Capital Management Inc. now owns 49,598 shares of the industrial products company’s stock valued at $3,503,000 after buying an additional 521 shares in the last quarter. Institutional investors and hedge funds own 82.74% of the company’s stock.
Shares of NASDAQ:TTEK opened at $90.42 on Friday. The business’s 50 day moving average price is $92.44 and its 200-day moving average price is $80.95. Tetra Tech, Inc. has a 1 year low of $63.61 and a 1 year high of $99.34. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.31 and a quick ratio of 1.31. The firm has a market capitalization of $4.87 billion, a PE ratio of 35.46, a P/E/G ratio of 1.89 and a beta of 0.89.
Tetra Tech (NASDAQ:TTEK) last announced its earnings results on Wednesday, July 29th. The industrial products company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.05. The company had revenue of $709.70 million for the quarter, compared to analysts’ expectations of $552.44 million. Tetra Tech had a net margin of 4.56% and a return on equity of 18.03%. The firm’s quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.89 EPS. As a group, analysts expect that Tetra Tech, Inc. will post 3.17 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 4th. Investors of record on Friday, August 21st were paid a dividend of $0.17 per share. The ex-dividend date was Thursday, August 20th. This represents a $0.68 annualized dividend and a yield of 0.75%. Tetra Tech’s dividend payout ratio is presently 21.45%.
In other Tetra Tech news, CEO Dan L. Batrack sold 69,270 shares of the company’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $93.16, for a total value of $6,453,193.20. Following the completion of the sale, the chief executive officer now directly owns 222,637 shares in the company, valued at approximately $20,740,862.92. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Craig L. Christensen sold 4,000 shares of the firm’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $98.88, for a total value of $395,520.00. Following the completion of the sale, the senior vice president now directly owns 43,039 shares of the company’s stock, valued at $4,255,696.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 119,926 shares of company stock valued at $11,176,171. 1.97% of the stock is owned by insiders.
A number of equities research analysts have recently commented on TTEK shares. BidaskClub upgraded Tetra Tech from a “hold” rating to a “buy” rating in a research report on Wednesday, September 9th. Maxim Group raised their price objective on Tetra Tech from $94.00 to $102.00 in a report on Friday, September 11th. Sidoti upped their target price on Tetra Tech from $104.00 to $107.00 and gave the stock a “buy” rating in a research note on Wednesday, June 10th. Zacks Investment Research raised shares of Tetra Tech from a “hold” rating to a “buy” rating and set a $93.00 price target on the stock in a research note on Tuesday, August 4th. Finally, Roth Capital upped their price objective on shares of Tetra Tech from $85.00 to $98.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $94.83.
About Tetra Tech
Tetra Tech, Inc provides consulting and engineering services worldwide. It operates through Government Services Group (GSG) and Commercial/International Services Group (CIG) segments. The GSG segment offers early data collection and monitoring, data analysis and information technology, science and engineering applied research, engineering design, construction 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.
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