Daiwa Securities Group Inc. Has $9.70 Million Position in Tetra Tech, Inc. (NASDAQ:TTEK)

Daiwa Securities Group Inc. grew its stake in Tetra Tech, Inc. (NASDAQ:TTEK) by 393.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 58,080 shares of the industrial products company’s stock after buying an additional 46,300 shares during the period. Daiwa Securities Group Inc.’s holdings in Tetra Tech were worth $9,695,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in TTEK. Norges Bank acquired a new position in Tetra Tech during the 4th quarter valued at about $132,468,000. CI Private Wealth LLC purchased a new position in shares of Tetra Tech in the 4th quarter worth about $72,092,000. AEGON ASSET MANAGEMENT UK Plc purchased a new stake in Tetra Tech during the fourth quarter worth about $82,209,000. Morgan Stanley boosted its stake in Tetra Tech by 67.7% in the fourth quarter. Morgan Stanley now owns 602,765 shares of the industrial products company’s stock valued at $87,516,000 after acquiring an additional 243,312 shares during the last quarter. Finally, Rockefeller Capital Management L.P. grew its position in shares of Tetra Tech by 489.8% during the 1st quarter. Rockefeller Capital Management L.P. now owns 268,091 shares of the industrial products company’s stock valued at $39,384,000 after acquiring an additional 222,634 shares during the period. 93.89% of the stock is currently owned by institutional investors.

Tetra Tech Trading Up 0.2 %

Shares of TTEK stock opened at $186.83 on Friday. The company has a market capitalization of $10.00 billion, a PE ratio of 43.25 and a beta of 0.96. Tetra Tech, Inc. has a 52-week low of $132.29 and a 52-week high of $194.99. The business’s fifty day moving average is $183.29 and its 200 day moving average is $168.95. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.25 and a current ratio of 1.25.

Tetra Tech (NASDAQ:TTEK) last released its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.05. Tetra Tech had a return on equity of 21.05% and a net margin of 4.77%. The firm had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $974.00 million. During the same quarter last year, the firm posted $1.34 EPS. On average, equities research analysts anticipate that Tetra Tech, Inc. will post 6.07 EPS for the current fiscal year.

Tetra Tech Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 27th. Shareholders of record on Wednesday, February 14th were paid a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, February 13th. This represents a $1.04 dividend on an annualized basis and a yield of 0.56%. Tetra Tech’s dividend payout ratio is presently 24.07%.

Insider Transactions at Tetra Tech

In related news, Director J Kenneth Thompson sold 8,400 shares of the company’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $165.00, for a total value of $1,386,000.00. Following the completion of the transaction, the director now directly owns 14,485 shares in the company, valued at $2,390,025. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director J Kenneth Thompson sold 8,400 shares of the stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $165.00, for a total transaction of $1,386,000.00. Following the transaction, the director now directly owns 14,485 shares in the company, valued at approximately $2,390,025. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Steven M. Burdick sold 7,515 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $175.67, for a total value of $1,320,160.05. Following the completion of the sale, the chief financial officer now directly owns 29,890 shares of the company’s stock, valued at approximately $5,250,776.30. The disclosure for this sale can be found here. Insiders have sold 32,123 shares of company stock valued at $5,487,673 in the last quarter. Insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. KeyCorp started coverage on shares of Tetra Tech in a report on Wednesday, January 10th. They issued an “overweight” rating and a $191.00 price target on the stock. Royal Bank of Canada boosted their target price on Tetra Tech from $192.00 to $203.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $197.25.

About Tetra Tech

Tetra Tech, Inc provides consulting and engineering services in the United States and internationally. The company operates through two segments, Government Services Group (GSG) and Commercial/International Services Group (CIG). The GSG segment offers early data collection and monitoring, data analysis and information management, science and engineering applied research, engineering design, project 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.