Russell Investments Group Ltd. Decreases Position in Tetra Tech, Inc. (NASDAQ:TTEK)

Russell Investments Group Ltd. decreased its stake in Tetra Tech, Inc. (NASDAQ:TTEK) by 5.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 70,522 shares of the industrial products company’s stock after selling 3,699 shares during the period. Russell Investments Group Ltd.’s holdings in Tetra Tech were worth $11,772,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Bahl & Gaynor Inc. raised its stake in shares of Tetra Tech by 1.3% in the fourth quarter. Bahl & Gaynor Inc. now owns 38,346 shares of the industrial products company’s stock valued at $6,401,000 after acquiring an additional 481 shares during the period. Semanteon Capital Management LP purchased a new stake in Tetra Tech in the 4th quarter worth about $696,000. GAMMA Investing LLC bought a new stake in Tetra Tech in the fourth quarter worth about $38,000. Duality Advisers LP boosted its position in shares of Tetra Tech by 5.2% during the fourth quarter. Duality Advisers LP now owns 4,505 shares of the industrial products company’s stock valued at $752,000 after buying an additional 221 shares during the period. Finally, Cetera Trust Company N.A bought a new position in shares of Tetra Tech during the fourth quarter valued at approximately $291,000. Institutional investors own 93.89% of the company’s stock.

Tetra Tech Stock Up 1.7 %

NASDAQ:TTEK opened at $207.75 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.24 and a quick ratio of 1.25. The firm has a market cap of $11.11 billion, a PE ratio of 42.05 and a beta of 0.93. The company has a 50-day moving average of $186.65 and a 200 day moving average of $171.67. Tetra Tech, Inc. has a 1-year low of $132.29 and a 1-year high of $208.76.

Tetra Tech (NASDAQ:TTEK) last announced its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.13. The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Tetra Tech had a net margin of 5.36% and a return on equity of 21.16%. The company’s revenue was down 9.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.17 EPS. As a group, research analysts anticipate that Tetra Tech, Inc. will post 6.2 EPS for the current fiscal year.

Tetra Tech Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Monday, May 20th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 0.56%. This is a positive change from Tetra Tech’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Friday, May 17th. Tetra Tech’s payout ratio is presently 21.05%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on TTEK shares. Royal Bank of Canada upped their price objective on Tetra Tech from $203.00 to $233.00 and gave the company an “outperform” rating in a research report on Friday. Maxim Group upped their price target on shares of Tetra Tech from $220.00 to $230.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Northcoast Research upgraded shares of Tetra Tech from a “neutral” rating to a “buy” rating and set a $225.00 price objective for the company in a report on Thursday. KeyCorp upped their target price on shares of Tetra Tech from $209.00 to $219.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, StockNews.com raised shares of Tetra Tech from a “hold” rating to a “buy” rating in a research note on Friday. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $221.40.

Insider Buying and Selling

In other Tetra Tech news, Director J Kenneth Thompson sold 3,500 shares of Tetra Tech 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 transaction, the director now owns 10,985 shares in the company, valued at $1,946,981.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Tetra Tech news, Director J Kenneth Thompson sold 3,500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $177.24, for a total value of $620,340.00. Following the completion of the sale, the director now directly owns 10,985 shares in the company, valued at $1,946,981.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Steven M. Burdick sold 7,515 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $175.67, for a total value of $1,320,160.05. Following the transaction, the chief financial officer now directly owns 29,890 shares in the company, valued at $5,250,776.30. The disclosure for this sale can be found here. Insiders sold 32,123 shares of company stock worth $5,487,673 in the last three months. 0.61% of the stock is owned by insiders.

Tetra Tech Profile

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.