Tetra Tech, Inc. (TTEK) Stake Raised by Sawgrass Asset Management LLC
Sawgrass Asset Management LLC grew its position in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 162.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,810 shares of the industrial products company’s stock after buying an additional 12,890 shares during the quarter. Sawgrass Asset Management LLC’s holdings in Tetra Tech were worth $952,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently bought and sold shares of the company. Victory Capital Management Inc. purchased a new stake in shares of Tetra Tech during the first quarter valued at approximately $185,000. LS Investment Advisors LLC grew its holdings in shares of Tetra Tech by 117.6% during the first quarter. LS Investment Advisors LLC now owns 4,872 shares of the industrial products company’s stock valued at $199,000 after buying an additional 2,633 shares during the last quarter. Strs Ohio grew its holdings in shares of Tetra Tech by 45.2% during the second quarter. Strs Ohio now owns 4,500 shares of the industrial products company’s stock valued at $205,000 after buying an additional 1,400 shares during the last quarter. Tocqueville Asset Management L.P. purchased a new stake in shares of Tetra Tech during the second quarter valued at approximately $206,000. Finally, Teacher Retirement System of Texas purchased a new stake in shares of Tetra Tech during the second quarter valued at approximately $210,000. Hedge funds and other institutional investors own 84.77% of the company’s stock.
Tetra Tech, Inc. (TTEK) traded up 1.27% on Friday, reaching $43.95. 39,092 shares of the company’s stock traded hands. The stock has a 50 day moving average price of $42.29 and a 200 day moving average price of $43.60. Tetra Tech, Inc. has a 12-month low of $34.78 and a 12-month high of $48.35. The stock has a market cap of $2.49 billion, a price-to-earnings ratio of 22.28 and a beta of 1.05.
Tetra Tech (NASDAQ:TTEK) last posted its earnings results on Wednesday, August 2nd. The industrial products company reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.01). Tetra Tech had a net margin of 4.17% and a return on equity of 13.65%. The firm had revenue of $498.47 million during the quarter, compared to analyst estimates of $535.18 million. During the same quarter in the prior year, the firm earned $0.50 earnings per share. The business’s revenue for the quarter was up .0% on a year-over-year basis. Analysts forecast that Tetra Tech, Inc. will post $2.11 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Thursday, August 17th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.92%. The ex-dividend date was Tuesday, August 15th. Tetra Tech’s dividend payout ratio is currently 20.30%.
A number of equities research analysts have recently commented on the stock. Canaccord Genuity reiterated a “buy” rating and set a $52.00 price target on shares of Tetra Tech in a report on Friday, August 4th. Robert W. Baird reiterated a “hold” rating and set a $47.00 price target on shares of Tetra Tech in a report on Tuesday, September 5th. Roth Capital set a $52.00 price target on shares of Tetra Tech and gave the company a “buy” rating in a report on Wednesday, August 2nd. BidaskClub downgraded shares of Tetra Tech from a “buy” rating to a “hold” rating in a research report on Saturday, August 5th. Finally, Stifel Nicolaus restated a “hold” rating and set a $47.00 price objective on shares of Tetra Tech in a research report on Thursday, September 7th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Tetra Tech has an average rating of “Hold” and a consensus target price of $49.50.
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Tetra Tech Company Profile
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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