Boston Partners Sells 175,543 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

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Boston Partners trimmed its holdings in Tetra Tech, Inc. (NASDAQ:TTEK) by 23.3% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 576,547 shares of the industrial products company’s stock after selling 175,543 shares during the quarter. Boston Partners’ holdings in Tetra Tech were worth $45,507,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in TTEK. Meeder Asset Management Inc. raised its holdings in Tetra Tech by 82.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 625 shares of the industrial products company’s stock worth $49,000 after purchasing an additional 283 shares during the last quarter. Huntington National Bank raised its holdings in Tetra Tech by 57.7% during the 2nd quarter. Huntington National Bank now owns 749 shares of the industrial products company’s stock worth $59,000 after purchasing an additional 274 shares during the last quarter. NN Investment Partners Holdings N.V. bought a new stake in Tetra Tech during the 2nd quarter worth about $83,000. Advisory Services Network LLC raised its holdings in Tetra Tech by 2,177.1% during the 2nd quarter. Advisory Services Network LLC now owns 1,093 shares of the industrial products company’s stock worth $86,000 after purchasing an additional 1,045 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in Tetra Tech during the 2nd quarter worth about $94,000. 86.36% of the stock is owned by institutional investors and hedge funds.

Shares of Tetra Tech stock traded up $1.68 during trading on Thursday, hitting $86.01. 25,252 shares of the company were exchanged, compared to its average volume of 272,525. The firm has a market capitalization of $4.58 billion, a P/E ratio of 32.58, a price-to-earnings-growth ratio of 1.73 and a beta of 1.10. Tetra Tech, Inc. has a 1-year low of $48.52 and a 1-year high of $86.56. The firm’s fifty day moving average price is $80.17 and its 200 day moving average price is $71.57. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.73 and a quick ratio of 1.73.

Tetra Tech (NASDAQ:TTEK) last posted its earnings results on Wednesday, July 31st. The industrial products company reported $0.89 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.09. The company had revenue of $623.20 million during the quarter, compared to analyst estimates of $605.42 million. Tetra Tech had a return on equity of 17.36% and a net margin of 5.85%. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.71 EPS. As a group, equities research analysts anticipate that Tetra Tech, Inc. will post 3.13 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Wednesday, August 14th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, August 13th. This represents a $0.60 annualized dividend and a dividend yield of 0.70%. Tetra Tech’s payout ratio is currently 22.73%.

In related news, SVP Craig L. Christensen sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $80.43, for a total value of $402,150.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Richard A. Lemmon sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $83.00, for a total value of $249,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 128,009 shares of company stock valued at $10,375,455 over the last 90 days. Corporate insiders own 3.00% of the company’s stock.

Several research firms have recently issued reports on TTEK. BidaskClub upgraded Tetra Tech from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 9th. Roth Capital boosted their target price on Tetra Tech from $75.00 to $84.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. ValuEngine upgraded Tetra Tech from a “hold” rating to a “buy” rating in a research report on Thursday, June 6th. Finally, Maxim Group set a $92.00 target price on Tetra Tech and gave the stock a “buy” rating in a research report on Friday, August 23rd. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Tetra Tech presently has a consensus rating of “Buy” and a consensus price target of $80.40.

Tetra Tech Profile

Tetra Tech, Inc provides consulting and engineering services worldwide. It operates through Government Services Group (GSG) and Commercial/International Services Group (CIG) segments. The GSG segment offers early data collection and monitoring, data analysis and information technology, science and engineering applied research, engineering design, construction 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.

Further Reading: Mutual Funds

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Institutional Ownership by Quarter for Tetra Tech (NASDAQ:TTEK)

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