Vanguard Group Inc. Sells 33,924 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

Vanguard Group Inc. lowered its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 0.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,153,853 shares of the industrial products company’s stock after selling 33,924 shares during the quarter. Vanguard Group Inc. owned approximately 9.63% of Tetra Tech worth $860,333,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. AtonRa Partners grew its stake in shares of Tetra Tech by 1.9% during the fourth quarter. AtonRa Partners now owns 3,454 shares of the industrial products company’s stock valued at $577,000 after purchasing an additional 65 shares during the last quarter. Arkadios Wealth Advisors increased its stake in shares of Tetra Tech by 2.5% in the 4th quarter. Arkadios Wealth Advisors now owns 3,060 shares of the industrial products company’s stock valued at $511,000 after buying an additional 74 shares during the period. BI Asset Management Fondsmaeglerselskab A S raised its position in shares of Tetra Tech by 4.3% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 2,393 shares of the industrial products company’s stock worth $399,000 after acquiring an additional 98 shares during the last quarter. State of Michigan Retirement System lifted its stake in shares of Tetra Tech by 0.8% during the fourth quarter. State of Michigan Retirement System now owns 12,808 shares of the industrial products company’s stock valued at $2,138,000 after acquiring an additional 100 shares during the period. Finally, Tributary Capital Management LLC boosted its holdings in Tetra Tech by 1.9% in the fourth quarter. Tributary Capital Management LLC now owns 6,379 shares of the industrial products company’s stock valued at $1,065,000 after acquiring an additional 120 shares during the last quarter. Institutional investors and hedge funds own 93.89% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on TTEK. Royal Bank of Canada raised their target price on shares of Tetra Tech from $203.00 to $233.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Robert W. Baird lifted their target price on shares of Tetra Tech from $200.00 to $223.00 and gave the stock a “neutral” rating in a report on Wednesday, May 15th. StockNews.com cut shares of Tetra Tech from a “buy” rating to a “hold” rating in a research report on Wednesday. Northcoast Research upgraded Tetra Tech from a “neutral” rating to a “buy” rating and set a $225.00 price target on the stock in a research report on Thursday, May 2nd. Finally, Maxim Group increased their target price on Tetra Tech from $234.00 to $268.00 and gave the company a “buy” rating in a research note on Thursday, May 16th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Tetra Tech currently has a consensus rating of “Moderate Buy” and a consensus target price of $236.60.

Insider Buying and Selling

In other Tetra Tech news, EVP Leslie L. Shoemaker sold 11,161 shares of Tetra Tech stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $211.83, for a total value of $2,364,234.63. Following the sale, the executive vice president now owns 74,887 shares of the company’s stock, valued at approximately $15,863,313.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.61% of the company’s stock.

Tetra Tech Stock Up 0.9 %

Shares of Tetra Tech stock opened at $211.00 on Friday. The company has a market capitalization of $11.29 billion, a P/E ratio of 42.71 and a beta of 0.98. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.24 and a quick ratio of 1.24. The business has a 50-day moving average of $205.78 and a two-hundred day moving average of $184.87. Tetra Tech, Inc. has a 1 year low of $143.35 and a 1 year high of $221.40.

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

Tetra Tech Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Monday, May 20th were given a $0.29 dividend. This is a boost from Tetra Tech’s previous quarterly dividend of $0.26. This represents a $1.16 annualized dividend and a yield of 0.55%. The ex-dividend date was Friday, May 17th. Tetra Tech’s payout ratio is currently 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.