American International Group Inc. Boosts Holdings in Tetra Tech, Inc. (TTEK)
American International Group Inc. raised its stake in Tetra Tech, Inc. (NASDAQ:TTEK) by 5.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,220 shares of the industrial products company’s stock after acquiring an additional 2,390 shares during the quarter. American International Group Inc. owned about 0.08% of Tetra Tech worth $2,105,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently bought and sold shares of TTEK. Aperio Group LLC grew its position in shares of Tetra Tech by 9.4% during the 2nd quarter. Aperio Group LLC now owns 25,715 shares of the industrial products company’s stock worth $1,176,000 after buying an additional 2,204 shares during the period. Strs Ohio grew its position in shares of Tetra Tech by 45.2% during the 2nd quarter. Strs Ohio now owns 4,500 shares of the industrial products company’s stock worth $205,000 after buying an additional 1,400 shares during the period. Great West Life Assurance Co. Can grew its position in shares of Tetra Tech by 3.4% during the 2nd quarter. Great West Life Assurance Co. Can now owns 82,077 shares of the industrial products company’s stock worth $3,750,000 after buying an additional 2,728 shares during the period. Texas Permanent School Fund grew its position in shares of Tetra Tech by 0.6% during the 2nd quarter. Texas Permanent School Fund now owns 41,731 shares of the industrial products company’s stock worth $1,909,000 after buying an additional 233 shares during the period. Finally, Sei Investments Co. grew its position in shares of Tetra Tech by 330.7% during the 2nd quarter. Sei Investments Co. now owns 60,778 shares of the industrial products company’s stock worth $2,780,000 after buying an additional 46,665 shares during the period. Hedge funds and other institutional investors own 84.78% of the company’s stock.
Tetra Tech, Inc. (NASDAQ:TTEK) opened at $48.35 on Monday. The stock has a market cap of $2,694.21, a P/E ratio of 22.70, a P/E/G ratio of 1.55 and a beta of 1.07. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.94 and a current ratio of 1.94. Tetra Tech, Inc. has a 1-year low of $38.85 and a 1-year high of $50.90.
Tetra Tech (NASDAQ:TTEK) last announced its quarterly earnings results on Wednesday, November 8th. The industrial products company reported $0.63 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.02. Tetra Tech had a net margin of 4.28% and a return on equity of 13.60%. The firm had revenue of $533.00 million for the quarter, compared to analyst estimates of $517.90 million. During the same quarter in the previous year, the firm posted $0.59 earnings per share. The business’s revenue was up .4% on a year-over-year basis. equities analysts forecast that Tetra Tech, Inc. will post 2.32 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date is Wednesday, November 29th. Tetra Tech’s payout ratio is currently 19.61%.
Several brokerages have recently commented on TTEK. BidaskClub cut shares of Tetra Tech from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Zacks Investment Research cut shares of Tetra Tech from a “hold” rating to a “sell” rating in a research report on Friday, November 10th. Robert W. Baird boosted their price objective on shares of Tetra Tech from $47.00 to $52.00 and gave the company a “neutral” rating in a report on Friday, November 10th. Boenning Scattergood restated a “buy” rating and set a $54.00 price objective on shares of Tetra Tech in a report on Thursday, November 9th. Finally, Stifel Nicolaus restated a “hold” rating and set a $47.00 price objective on shares of Tetra Tech in a report on Thursday, September 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $52.29.
In other Tetra Tech news, insider Ronald J. Chu sold 14,112 shares of Tetra Tech stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $50.00, for a total value of $705,600.00. Following the transaction, the insider now owns 51,216 shares of the company’s stock, valued at $2,560,800. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Roger R. Argus sold 1,138 shares of Tetra Tech stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $49.63, for a total transaction of $56,478.94. Following the completion of the transaction, the senior vice president now directly owns 6,948 shares in the company, valued at approximately $344,829.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 115,411 shares of company stock worth $5,727,537. Insiders own 3.80% 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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