Tetra Tech, Inc. (NASDAQ:TTEK) Shares Sold by HighPoint Advisor Group LLC

HighPoint Advisor Group LLC lowered its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 9.1% during the fourth quarter, Holdings Channel reports. The firm owned 15,977 shares of the industrial products company’s stock after selling 1,590 shares during the period. HighPoint Advisor Group LLC’s holdings in Tetra Tech were worth $637,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. New England Research & Management Inc. acquired a new stake in Tetra Tech during the 4th quarter worth $596,000. Nicola Wealth Management LTD. grew its holdings in shares of Tetra Tech by 36.8% during the fourth quarter. Nicola Wealth Management LTD. now owns 65,000 shares of the industrial products company’s stock worth $2,590,000 after purchasing an additional 17,500 shares during the last quarter. Lecap Asset Management Ltd. increased its position in shares of Tetra Tech by 71.3% during the fourth quarter. Lecap Asset Management Ltd. now owns 44,769 shares of the industrial products company’s stock worth $1,784,000 after purchasing an additional 18,635 shares in the last quarter. Y Intercept Hong Kong Ltd lifted its holdings in shares of Tetra Tech by 53.3% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 39,150 shares of the industrial products company’s stock valued at $1,560,000 after purchasing an additional 13,606 shares during the last quarter. Finally, Perpetual Ltd boosted its position in shares of Tetra Tech by 9.6% in the 4th quarter. Perpetual Ltd now owns 215,042 shares of the industrial products company’s stock valued at $8,567,000 after purchasing an additional 18,842 shares during the period. Hedge funds and other institutional investors own 93.89% of the company’s stock.

Tetra Tech Stock Performance

NASDAQ:TTEK opened at $29.55 on Wednesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.29 and a quick ratio of 1.29. The firm has a market cap of $7.92 billion, a price-to-earnings ratio of 31.04 and a beta of 0.93. The firm’s fifty day moving average price is $31.87 and its 200 day moving average price is $40.00. Tetra Tech, Inc. has a 1-year low of $28.17 and a 1-year high of $51.20.

Tetra Tech (NASDAQ:TTEK) last issued its earnings results on Wednesday, January 29th. The industrial products company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.01. Tetra Tech had a net margin of 4.81% and a return on equity of 22.58%. On average, sell-side analysts expect that Tetra Tech, Inc. will post 1.37 EPS for the current year.

Tetra Tech Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were issued a $0.058 dividend. The ex-dividend date was Wednesday, February 12th. This represents a $0.23 annualized dividend and a dividend yield of 0.79%. Tetra Tech’s dividend payout ratio is currently 24.21%.

Insider Activity at Tetra Tech

In other Tetra Tech news, Director Kirsten M. Volpi sold 10,116 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $34.33, for a total value of $347,282.28. Following the completion of the transaction, the director now owns 60,196 shares in the company, valued at approximately $2,066,528.68. This represents a 14.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.40% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the company. Royal Bank of Canada set a $49.00 price target on Tetra Tech in a research report on Friday, January 31st. KeyCorp cut their target price on shares of Tetra Tech from $49.00 to $45.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Finally, Maxim Group downgraded shares of Tetra Tech from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.92.

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.