Leslie L. Shoemaker Sells 78,420 Shares of Tetra Tech, Inc. (NASDAQ:TTEK) Stock

Tetra Tech, Inc. (NASDAQ:TTEK) EVP Leslie L. Shoemaker sold 78,420 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $46.11, for a total transaction of $3,615,946.20. Following the completion of the sale, the executive vice president now owns 296,015 shares of the company’s stock, valued at $13,649,251.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Tetra Tech Stock Up 0.4 %

TTEK opened at $46.24 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.21 and a quick ratio of 1.21. The company’s 50-day moving average is $44.24 and its 200 day moving average is $41.17. Tetra Tech, Inc. has a fifty-two week low of $28.67 and a fifty-two week high of $48.26. The firm has a market capitalization of $12.38 billion, a P/E ratio of 9.36 and a beta of 0.95.

Tetra Tech (NASDAQ:TTEK) last released its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. Tetra Tech had a net margin of 5.72% and a return on equity of 21.50%. The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same period last year, the firm earned $0.26 earnings per share. The firm’s revenue was up 10.7% on a year-over-year basis. Research analysts expect that Tetra Tech, Inc. will post 1.25 earnings per share for the current fiscal year.

Tetra Tech Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Thursday, August 15th were given a dividend of $0.058 per share. This represents a $0.23 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend was Thursday, August 15th. Tetra Tech’s payout ratio is currently 4.66%.

Analyst Ratings Changes

TTEK has been the subject of a number of analyst reports. Royal Bank of Canada lifted their price objective on shares of Tetra Tech from $46.60 to $51.80 and gave the company an “outperform” rating in a report on Friday, August 2nd. Robert W. Baird lifted their price objective on shares of Tetra Tech from $44.60 to $46.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. KeyCorp lifted their price objective on shares of Tetra Tech from $46.80 to $49.40 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, StockNews.com upgraded shares of Tetra Tech from a “hold” rating to a “buy” rating in a report on Saturday. One investment analyst has rated the stock with a hold rating and five have assigned 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 target price of $49.16.

Institutional Trading of Tetra Tech

Several hedge funds have recently added to or reduced their stakes in TTEK. Victory Capital Management Inc. raised its position in Tetra Tech by 19.8% in the fourth quarter. Victory Capital Management Inc. now owns 11,342 shares of the industrial products company’s stock worth $1,893,000 after acquiring an additional 1,878 shares during the period. Natixis Advisors L.P. bought a new stake in Tetra Tech in the fourth quarter worth about $1,821,000. Charles Schwab Investment Management Inc. raised its position in Tetra Tech by 3.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 439,007 shares of the industrial products company’s stock worth $73,283,000 after acquiring an additional 15,169 shares during the period. Principal Securities Inc. bought a new stake in Tetra Tech in the fourth quarter worth about $36,000. Finally, Quadrant Capital Group LLC raised its position in Tetra Tech by 59.0% in the fourth quarter. Quadrant Capital Group LLC now owns 539 shares of the industrial products company’s stock worth $90,000 after acquiring an additional 200 shares during the period. Institutional investors own 93.89% of the company’s stock.

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.