CX Institutional Sells 18,906 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

CX Institutional lowered its holdings in Tetra Tech, Inc. (NASDAQ:TTEK) by 92.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,520 shares of the industrial products company’s stock after selling 18,906 shares during the quarter. CX Institutional’s holdings in Tetra Tech were worth $44,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Sarasin & Partners LLP acquired a new position in shares of Tetra Tech during the first quarter valued at $135,386,000. Terra Alpha Investments LLC increased its position in Tetra Tech by 4.8% in the first quarter. Terra Alpha Investments LLC now owns 49,164 shares of the industrial products company’s stock worth $1,438,000 after purchasing an additional 2,242 shares during the period. SG Americas Securities LLC raised its holdings in Tetra Tech by 259.3% during the 1st quarter. SG Americas Securities LLC now owns 46,406 shares of the industrial products company’s stock worth $1,357,000 after purchasing an additional 33,491 shares during the last quarter. Harbor Capital Advisors Inc. lifted its position in Tetra Tech by 30.6% during the 1st quarter. Harbor Capital Advisors Inc. now owns 48,418 shares of the industrial products company’s stock valued at $1,416,000 after purchasing an additional 11,340 shares during the period. Finally, City Center Advisors LLC bought a new position in shares of Tetra Tech in the 1st quarter valued at about $208,000. Institutional investors own 93.89% of the company’s stock.

Tetra Tech Trading Down 0.8%

Tetra Tech stock opened at $35.69 on Wednesday. The company has a market cap of $9.40 billion, a price-to-earnings ratio of 51.88 and a beta of 0.95. The firm has a 50-day moving average of $33.37 and a 200-day moving average of $34.55. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.10 and a quick ratio of 1.10. Tetra Tech, Inc. has a one year low of $27.27 and a one year high of $51.20.

Tetra Tech (NASDAQ:TTEK) last posted its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.02. Tetra Tech had a net margin of 3.44% and a return on equity of 23.31%. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period in the prior year, the firm posted $0.28 earnings per share. The company’s quarterly revenue was up 25.9% compared to the same quarter last year. On average, equities analysts expect that Tetra Tech, Inc. will post 1.37 earnings per share for the current fiscal year.

Tetra Tech Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Friday, May 23rd were paid a $0.065 dividend. This represents a $0.26 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date of this dividend was Friday, May 23rd. This is a boost from Tetra Tech’s previous quarterly dividend of $0.06. Tetra Tech’s dividend payout ratio is 37.68%.

Analyst Ratings Changes

TTEK has been the topic of a number of analyst reports. Robert W. Baird increased their price target on Tetra Tech from $31.00 to $33.00 and gave the company a “neutral” rating in a research note on Thursday, May 8th. KeyCorp upped their price objective on Tetra Tech from $34.00 to $41.00 and gave the company an “overweight” rating in a report on Friday, May 9th. Finally, Maxim Group lowered Tetra Tech from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Tetra Tech currently has an average rating of “Hold” and a consensus target price of $41.00.

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.