Insider Selling: Tetra Tech, Inc. (TTEK) Chairman Sells $1,566,435.50 in Stock
Tetra Tech, Inc. (NASDAQ:TTEK) Chairman Dan L. Batrack sold 32,165 shares of the company’s stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $48.70, for a total transaction of $1,566,435.50. Following the sale, the chairman now directly owns 286,533 shares in the company, valued at approximately $13,954,157.10. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
Tetra Tech, Inc. (NASDAQ:TTEK) opened at $48.35 on Friday. The company has a market cap of $2,690.01, a price-to-earnings ratio of 22.66, a PEG ratio of 1.54 and a beta of 1.07. Tetra Tech, Inc. has a twelve month low of $38.85 and a twelve month high of $50.90. The company has a quick ratio of 1.94, a current ratio of 1.94 and a debt-to-equity ratio of 0.37.
Tetra Tech (NASDAQ:TTEK) last issued its quarterly earnings results on Wednesday, November 8th. The industrial products company reported $0.63 EPS for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.02. The firm had revenue of $533.00 million for the quarter, compared to analyst estimates of $517.90 million. Tetra Tech had a net margin of 4.28% and a return on equity of 13.60%. The business’s revenue for the quarter was up .4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.59 EPS. equities research analysts expect that Tetra Tech, Inc. will post 2.32 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be paid a $0.10 dividend. The ex-dividend date is Wednesday, November 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.83%. Tetra Tech’s dividend payout ratio (DPR) is 19.61%.
Several institutional investors have recently made changes to their positions in TTEK. Koch Industries Inc. purchased a new stake in shares of Tetra Tech in the 2nd quarter valued at $506,000. Premier Asset Management LLC purchased a new stake in shares of Tetra Tech in the 2nd quarter valued at $7,249,000. Allianz Asset Management GmbH boosted its stake in shares of Tetra Tech by 35.5% in the 3rd quarter. Allianz Asset Management GmbH now owns 582,449 shares of the industrial products company’s stock valued at $27,113,000 after purchasing an additional 152,695 shares in the last quarter. PDT Partners LLC purchased a new stake in shares of Tetra Tech in the 2nd quarter valued at $6,519,000. Finally, Janus Henderson Group PLC boosted its stake in shares of Tetra Tech by 270.8% in the 2nd quarter. Janus Henderson Group PLC now owns 193,166 shares of the industrial products company’s stock valued at $8,833,000 after purchasing an additional 141,066 shares in the last quarter. 84.78% of the stock is owned by institutional investors.
A number of analysts recently weighed in on TTEK shares. Zacks Investment Research raised shares of Tetra Tech from a “sell” rating to a “hold” rating in a report on Friday, October 6th. Robert W. Baird increased their price target on shares of Tetra Tech from $47.00 to $52.00 and gave the stock a “neutral” rating in a report on Friday, November 10th. Boenning Scattergood reissued a “buy” rating and issued a $54.00 price target on shares of Tetra Tech in a report on Thursday, November 9th. Stifel Nicolaus reissued a “hold” rating and issued a $47.00 price target on shares of Tetra Tech in a report on Thursday, September 7th. Finally, BidaskClub lowered shares of Tetra Tech from a “strong-buy” rating to a “buy” rating in a report on Saturday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $52.29.
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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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