Tetra Tech, Inc. (NASDAQ:TTEK) Shares Sold by Handelsinvest Investeringsforvaltning

Handelsinvest Investeringsforvaltning cut its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 34.2% in the first quarter, HoldingsChannel reports. The firm owned 1,498 shares of the industrial products company’s stock after selling 778 shares during the period. Handelsinvest Investeringsforvaltning’s holdings in Tetra Tech were worth $277,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Stifel Financial Corp increased its holdings in Tetra Tech by 10.7% in the third quarter. Stifel Financial Corp now owns 26,817 shares of the industrial products company’s stock valued at $4,077,000 after buying an additional 2,593 shares in the last quarter. Retirement Systems of Alabama increased its holdings in Tetra Tech by 0.3% in the fourth quarter. Retirement Systems of Alabama now owns 77,406 shares of the industrial products company’s stock valued at $12,921,000 after buying an additional 205 shares in the last quarter. WCM Investment Management LLC increased its holdings in Tetra Tech by 2.5% in the fourth quarter. WCM Investment Management LLC now owns 339,938 shares of the industrial products company’s stock valued at $57,127,000 after buying an additional 8,394 shares in the last quarter. Jump Financial LLC increased its holdings in Tetra Tech by 743.1% in the fourth quarter. Jump Financial LLC now owns 22,232 shares of the industrial products company’s stock valued at $3,711,000 after buying an additional 19,595 shares in the last quarter. Finally, Spire Wealth Management increased its holdings in Tetra Tech by 1,054.4% in the fourth quarter. Spire Wealth Management now owns 22,650 shares of the industrial products company’s stock valued at $3,706,000 after buying an additional 20,688 shares in the last quarter. Hedge funds and other institutional investors own 93.89% of the company’s stock.

Insider Transactions at Tetra Tech

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

Tetra Tech Price Performance

NASDAQ TTEK traded down $1.35 during trading hours on Wednesday, hitting $198.77. 7,183 shares of the company’s stock traded hands, compared to its average volume of 277,216. Tetra Tech, Inc. has a 52-week low of $143.35 and a 52-week high of $221.40. The company has a market capitalization of $10.63 billion, a PE ratio of 40.51 and a beta of 0.94. 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 firm’s 50-day moving average is $208.67 and its 200-day moving average is $187.27.

Tetra Tech (NASDAQ:TTEK) last posted its earnings results on Wednesday, May 1st. The industrial products company reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.13. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. Tetra Tech had a net margin of 5.36% and a return on equity of 21.16%. Tetra Tech’s revenue was down 9.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.17 EPS. Equities analysts forecast that Tetra Tech, Inc. will post 6.2 EPS for the current fiscal year.

Tetra Tech Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Monday, May 20th were issued a $0.29 dividend. This is a positive change from Tetra Tech’s previous quarterly dividend of $0.26. This represents a $1.16 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend was Friday, May 17th. Tetra Tech’s dividend payout ratio is currently 23.48%.

Wall Street Analyst Weigh In

TTEK has been the subject of a number of research reports. Northcoast Research raised shares of Tetra Tech from a “neutral” rating to a “buy” rating and set a $225.00 target price for the company in a research note on Thursday, May 2nd. KeyCorp boosted their target price on shares of Tetra Tech from $231.00 to $234.00 and gave the stock an “overweight” rating in a research note on Thursday, May 23rd. Royal Bank of Canada boosted their target price on shares of Tetra Tech from $203.00 to $233.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Maxim Group boosted their target price on shares of Tetra Tech from $234.00 to $268.00 and gave the stock a “buy” rating in a research note on Thursday, May 16th. Finally, StockNews.com cut shares of Tetra Tech from a “buy” rating to a “hold” rating in a research note on Wednesday, June 19th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Tetra Tech presently has a consensus rating of “Moderate Buy” and a consensus price target of $236.60.

Tetra Tech 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.