Raymond James Financial Services Advisors Inc. lowered its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK – Get Rating) by 5.3% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 6,680 shares of the industrial products company’s stock after selling 371 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Tetra Tech were worth $859,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Brown Brothers Harriman & Co. acquired a new position in Tetra Tech during the 2nd quarter valued at about $25,000. Covestor Ltd boosted its stake in Tetra Tech by 90.8% during the 1st quarter. Covestor Ltd now owns 248 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 118 shares during the last quarter. Private Trust Co. NA boosted its stake in shares of Tetra Tech by 64.3% in the 3rd quarter. Private Trust Co. NA now owns 253 shares of the industrial products company’s stock worth $33,000 after buying an additional 99 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of Tetra Tech in the 2nd quarter worth approximately $39,000. Finally, Householder Group Estate & Retirement Specialist LLC purchased a new position in shares of Tetra Tech in the 3rd quarter worth approximately $40,000. Institutional investors and hedge funds own 85.28% of the company’s stock.
Analysts Set New Price Targets
A number of equities analysts have recently weighed in on the company. StockNews.com upgraded Tetra Tech from a “hold” rating to a “buy” rating in a research note on Saturday, December 17th. Maxim Group boosted their target price on Tetra Tech from $190.00 to $200.00 in a research note on Friday, November 11th.
Insider Buying and Selling at Tetra Tech
Tetra Tech Price Performance
Tetra Tech stock opened at $151.91 on Monday. Tetra Tech, Inc. has a 12 month low of $118.55 and a 12 month high of $169.95. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.21. The business’s 50 day simple moving average is $149.79 and its 200 day simple moving average is $142.57. The company has a market cap of $8.09 billion, a price-to-earnings ratio of 31.19 and a beta of 0.93.
Tetra Tech (NASDAQ:TTEK – Get Rating) last posted its quarterly earnings data on Wednesday, November 9th. The industrial products company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.17 by $0.09. Tetra Tech had a return on equity of 20.02% and a net margin of 7.51%. The business had revenue of $736.10 million for the quarter, compared to the consensus estimate of $712.86 million. During the same quarter in the prior year, the business earned $1.05 earnings per share. Tetra Tech’s revenue for the quarter was up 11.8% on a year-over-year basis. Sell-side analysts forecast that Tetra Tech, Inc. will post 4.84 EPS for the current year.
Tetra Tech Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, December 9th. Shareholders of record on Monday, November 21st were issued a dividend of $0.23 per share. The ex-dividend date was Friday, November 18th. This represents a $0.92 dividend on an annualized basis and a yield of 0.61%. Tetra Tech’s payout ratio is 18.89%.
About Tetra Tech
Tetra Tech, Inc engages in the provision of consulting and engineering services. It operates through the following segments: Government Services Group (GSG), Commercial and International Services Group (CIG), and Remediation and Construction Management (RCM). The GSG segment offers consulting and engineering services primarily to United States government clients such as federal, state and local, and development agencies worldwide.
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