Tetra Tech Inc. (TTEK) Shares Bought by JPMorgan Chase & Co.
JPMorgan Chase & Co. increased its stake in Tetra Tech Inc. (NASDAQ:TTEK) by 19.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 270,295 shares of the company’s stock after buying an additional 44,557 shares during the period. JPMorgan Chase & Co. owned about 0.47% of Tetra Tech worth $8,309,000 as of its most recent filing with the SEC.
Other large investors also recently modified their holdings of the company. BlackRock Institutional Trust Company N.A. raised its stake in Tetra Tech by 5.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,563,248 shares of the company’s stock valued at $46,616,000 after buying an additional 85,672 shares in the last quarter. Balter Liquid Alternatives LLC raised its stake in Tetra Tech by 5.3% in the first quarter. Balter Liquid Alternatives LLC now owns 74,269 shares of the company’s stock valued at $2,215,000 after buying an additional 3,766 shares in the last quarter. Prudential Financial Inc. raised its stake in Tetra Tech by 4.3% in the first quarter. Prudential Financial Inc. now owns 143,140 shares of the company’s stock valued at $4,268,000 after buying an additional 5,900 shares in the last quarter. BlackRock Fund Advisors raised its stake in Tetra Tech by 0.6% in the first quarter. BlackRock Fund Advisors now owns 3,768,617 shares of the company’s stock valued at $112,380,000 after buying an additional 23,403 shares in the last quarter. Finally, BlackRock Inc. raised its stake in Tetra Tech by 8.1% in the first quarter. BlackRock Inc. now owns 26,517 shares of the company’s stock valued at $791,000 after buying an additional 1,993 shares in the last quarter. Institutional investors own 89.12% of the company’s stock.
Shares of Tetra Tech Inc. (NASDAQ:TTEK) traded up 0.44% on Friday, reaching $36.23. 90,421 shares of the company traded hands. The firm has a 50-day moving average of $35.34 and a 200-day moving average of $31.84. Tetra Tech Inc. has a 52-week low of $22.85 and a 52-week high of $36.51. The company has a market capitalization of $2.08 billion, a PE ratio of 101.77 and a beta of 1.21.
Tetra Tech (NASDAQ:TTEK) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.50 EPS for the quarter, meeting analysts’ consensus estimates of $0.50. The company had revenue of $667 million for the quarter, compared to analyst estimates of $498.79 million. Tetra Tech had a return on equity of 12.31% and a net margin of 0.86%. The company’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period last year, the company earned $0.43 earnings per share. On average, equities research analysts forecast that Tetra Tech Inc. will post $1.88 earnings per share for the current fiscal year.
Several equities research analysts recently commented on the stock. Boenning Scattergood assumed coverage on shares of Tetra Tech in a research report on Friday. They issued an “outperform” rating on the stock. Zacks Investment Research upgraded shares of Tetra Tech from a “sell” rating to a “hold” rating in a research report on Monday, July 25th. Canaccord Genuity reiterated a “buy” rating and issued a $37.00 price objective on shares of Tetra Tech in a research report on Friday, July 29th. Finally, FBR & Co boosted their price objective on shares of Tetra Tech from $32.00 to $36.00 and gave the stock a “market perform” rating in a research report on Friday, July 29th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Tetra Tech has a consensus rating of “Buy” and an average target price of $34.40.
In other news, CFO Steven M. Burdick sold 16,750 shares of the firm’s stock in a transaction on Monday, July 11th. The stock was sold at an average price of $31.23, for a total transaction of $523,102.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director J Kenneth Thompson sold 8,000 shares of the firm’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $32.75, for a total value of $262,000.00. Following the transaction, the director now directly owns 20,930 shares in the company, valued at $685,457.50. The disclosure for this sale can be found here. Insiders own 4.00% of the company’s stock.
About Tetra Tech
Tetra Tech, Inc is a provider of consulting, engineering, program management, construction management, and technical services. The Company’s segments include Water, Environment and Infrastructure (WEI), Resource Management and Energy (RME), and Remediation and Construction Management (RCM). The WEI segment provides consulting and engineering services.
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