Daiwa Securities Group Inc. Has $6.71 Million Holdings in Tetra Tech, Inc. (NASDAQ:TTEK)

Daiwa Securities Group Inc. trimmed its position in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 98.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 168,500 shares of the industrial products company’s stock after selling 10,045,400 shares during the period. Daiwa Securities Group Inc. owned 0.06% of Tetra Tech worth $6,713,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund increased its stake in shares of Tetra Tech by 0.7% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 54,525 shares of the industrial products company’s stock worth $2,172,000 after purchasing an additional 400 shares during the last quarter. Nordea Investment Management AB increased its position in Tetra Tech by 0.9% during the fourth quarter. Nordea Investment Management AB now owns 45,422 shares of the industrial products company’s stock worth $1,809,000 after buying an additional 411 shares during the last quarter. CIBC Asset Management Inc raised its stake in Tetra Tech by 5.6% in the fourth quarter. CIBC Asset Management Inc now owns 8,318 shares of the industrial products company’s stock valued at $331,000 after buying an additional 438 shares during the period. Jones Financial Companies Lllp lifted its position in shares of Tetra Tech by 98.0% in the fourth quarter. Jones Financial Companies Lllp now owns 1,000 shares of the industrial products company’s stock valued at $40,000 after buying an additional 495 shares during the last quarter. Finally, Canton Hathaway LLC boosted its stake 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 acquiring an additional 516 shares during the period. 93.89% of the stock is owned by institutional investors.

Insider Transactions at Tetra Tech

In other Tetra Tech news, Director Kirsten M. Volpi sold 10,116 shares of Tetra Tech stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $34.33, for a total value of $347,282.28. Following the transaction, the director now owns 60,196 shares in the company, valued at $2,066,528.68. The trade was a 14.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.40% of the stock is owned by insiders.

Tetra Tech Stock Down 2.3 %

TTEK stock opened at $29.33 on Wednesday. Tetra Tech, Inc. has a 52 week low of $28.17 and a 52 week high of $51.20. The business has a 50-day simple moving average of $35.33 and a 200 day simple moving average of $41.91. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.53. The company has a market cap of $7.86 billion, a PE ratio of 30.81 and a beta of 0.93.

Tetra Tech (NASDAQ:TTEK) last issued its earnings results on Wednesday, January 29th. The industrial products company reported $0.35 EPS 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%. Sell-side analysts anticipate that Tetra Tech, Inc. will post 1.37 EPS for the current fiscal year.

Tetra Tech Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on TTEK shares. Robert W. Baird raised their price target on Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. KeyCorp cut their target price on shares of Tetra Tech from $49.00 to $45.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. StockNews.com downgraded Tetra Tech from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Royal Bank of Canada set a $49.00 price target on Tetra Tech in a report on Friday, January 31st. Finally, Maxim Group lowered Tetra Tech from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $47.92.

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.