Tetra Tech, Inc. (NASDAQ:TTEK) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank
Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Tetra Tech, Inc. (NASDAQ:TTEK) by 7.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,722 shares of the industrial products company’s stock after buying an additional 687 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Tetra Tech were worth $687,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the company. Bank of New York Mellon Corp lifted its holdings in shares of Tetra Tech by 2.4% in the 1st quarter. Bank of New York Mellon Corp now owns 647,659 shares of the industrial products company’s stock valued at $45,736,000 after buying an additional 14,974 shares during the period. New York State Common Retirement Fund lifted its holdings in shares of Tetra Tech by 11.5% in the 1st quarter. New York State Common Retirement Fund now owns 109,534 shares of the industrial products company’s stock valued at $7,735,000 after buying an additional 11,256 shares during the period. Redwood Investments LLC acquired a new position in shares of Tetra Tech in the 1st quarter valued at about $12,681,000. Mckinley Capital Management LLC Delaware lifted its holdings in shares of Tetra Tech by 20.3% in the 1st quarter. Mckinley Capital Management LLC Delaware now owns 4,705 shares of the industrial products company’s stock valued at $332,000 after buying an additional 795 shares during the period. Finally, D.A. Davidson & CO. lifted its holdings in shares of Tetra Tech by 1.5% in the 1st quarter. D.A. Davidson & CO. now owns 10,150 shares of the industrial products company’s stock valued at $728,000 after buying an additional 150 shares during the period. 81.83% of the stock is owned by institutional investors and hedge funds.
Shares of Tetra Tech stock opened at $75.50 on Friday. The business has a 50 day simple moving average of $74.32 and a two-hundred day simple moving average of $83.18. Tetra Tech, Inc. has a 12 month low of $63.61 and a 12 month high of $99.34. The stock has a market capitalization of $4.10 billion, a P/E ratio of 29.04, a PEG ratio of 1.61 and a beta of 0.88. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.36 and a quick ratio of 1.36.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Wednesday, May 13th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Tuesday, May 12th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.90%. This is a boost from Tetra Tech’s previous quarterly dividend of $0.15. Tetra Tech’s dividend payout ratio is presently 21.45%.
A number of equities analysts recently weighed in on the company. Stifel Nicolaus reduced their price target on Tetra Tech from $92.00 to $72.00 and set a “hold” rating for the company in a report on Thursday, April 2nd. Zacks Investment Research cut Tetra Tech from a “hold” rating to a “sell” rating and set a $81.00 price target for the company. in a report on Wednesday, April 8th. BidaskClub raised Tetra Tech from a “buy” rating to a “strong-buy” rating in a report on Thursday. Sidoti reduced their price target on Tetra Tech from $108.00 to $104.00 and set a “buy” rating for the company in a report on Monday, March 16th. Finally, Boenning Scattergood cut Tetra Tech from an “outperform” rating to a “neutral” rating in a report on Monday, March 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $89.00.
In other news, Director Hugh M. Grant sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $95.00, for a total value of $760,000.00. Following the completion of the sale, the director now directly owns 32,331 shares in the company, valued at $3,071,445. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kirsten M. Volpi sold 1,351 shares of the company’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $70.56, for a total value of $95,326.56. Following the completion of the sale, the director now owns 18,208 shares of the company’s stock, valued at $1,284,756.48. The disclosure for this sale can be found here. 1.97% of the stock is owned by corporate insiders.
About Tetra Tech
Tetra Tech, Inc provides consulting and engineering services worldwide. It operates through Government Services Group (GSG) and Commercial/International Services Group (CIG) segments. The GSG segment offers early data collection and monitoring, data analysis and information technology, science and engineering applied research, engineering design, construction 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.
Further Reading: Call Option Volume
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