Tetra Tech’s (TTEK) Outperform Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of Tetra Tech (NASDAQ:TTEK) in a research report sent to investors on Friday,Benzinga reports. Royal Bank of Canada currently has a $52.00 price objective on the industrial products company’s stock.

Other equities research analysts also recently issued reports about the company. KeyCorp decreased their price objective on Tetra Tech from $56.00 to $49.00 and set an “overweight” rating on the stock in a report on Friday. Robert W. Baird lifted their price objective on Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a report on Thursday. Finally, StockNews.com upgraded shares of Tetra Tech from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.32.

Tetra Tech Stock Up 0.8 %

Shares of TTEK stock opened at $41.27 on Friday. Tetra Tech has a one year low of $30.92 and a one year high of $51.20. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.25 and a quick ratio of 1.21. The stock has a fifty day moving average price of $47.60 and a 200 day moving average price of $44.58. The stock has a market cap of $11.05 billion, a P/E ratio of 33.55 and a beta of 0.94.

Tetra Tech Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th will be paid a $0.058 dividend. This represents a $0.23 annualized dividend and a yield of 0.56%. The ex-dividend date is Wednesday, November 27th. Tetra Tech’s payout ratio is presently 18.70%.

Insider Transactions at Tetra Tech

In other news, EVP Leslie L. Shoemaker sold 78,420 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $46.11, for a total transaction of $3,615,946.20. Following the completion of the transaction, the executive vice president now directly owns 296,015 shares of the company’s stock, valued at $13,649,251.65. This trade represents a 20.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Steven M. Burdick sold 36,830 shares of Tetra Tech stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $46.57, for a total value of $1,715,173.10. Following the completion of the sale, the chief financial officer now directly owns 112,620 shares in the company, valued at approximately $5,244,713.40. This represents a 24.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 121,750 shares of company stock valued at $5,633,239 over the last three months. 0.61% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Allworth Financial LP grew its position in shares of Tetra Tech by 629.3% during the 3rd quarter. Allworth Financial LP now owns 547 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 472 shares in the last quarter. LGT Financial Advisors LLC increased its stake in Tetra Tech by 400.0% during the 3rd quarter. LGT Financial Advisors LLC now owns 555 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 444 shares during the period. Banque Cantonale Vaudoise acquired a new position in Tetra Tech in the 2nd quarter valued at $28,000. Venturi Wealth Management LLC lifted its position in shares of Tetra Tech by 3,261.1% during the 3rd quarter. Venturi Wealth Management LLC now owns 605 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 587 shares during the period. Finally, Canton Hathaway LLC grew its holdings in shares of Tetra Tech by 400.0% during the 3rd quarter. Canton Hathaway LLC now owns 645 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 516 shares in the last quarter. Institutional investors own 93.89% of the company’s stock.

Tetra Tech Company 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.