Tetra Tech, Inc. (NASDAQ:TTEK) Shares Sold by Trexquant Investment LP

Trexquant Investment LP lessened its stake in Tetra Tech, Inc. (NASDAQ:TTEK) by 5.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,342 shares of the industrial products company’s stock after selling 1,454 shares during the quarter. Trexquant Investment LP’s holdings in Tetra Tech were worth $4,063,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in TTEK. Contravisory Investment Management Inc. acquired a new position in Tetra Tech during the fourth quarter worth about $26,000. Principal Securities Inc. purchased a new stake in Tetra Tech in the 4th quarter valued at approximately $36,000. GAMMA Investing LLC acquired a new stake in Tetra Tech during the 4th quarter valued at $38,000. SRS Capital Advisors Inc. increased its position in Tetra Tech by 305.2% during the fourth quarter. SRS Capital Advisors Inc. now owns 235 shares of the industrial products company’s stock worth $39,000 after buying an additional 177 shares in the last quarter. Finally, McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Tetra Tech in the fourth quarter valued at $89,000. Hedge funds and other institutional investors own 93.89% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on TTEK. KeyCorp lifted their price target on shares of Tetra Tech from $231.00 to $234.00 and gave the stock an “overweight” rating in a report on Thursday. Northcoast Research upgraded Tetra Tech from a “neutral” rating to a “buy” rating and set a $225.00 price target for the company in a report on Thursday, May 2nd. Robert W. Baird raised their price objective on Tetra Tech from $200.00 to $223.00 and gave the stock a “neutral” rating in a report on Wednesday, May 15th. Royal Bank of Canada upped their target price on Tetra Tech from $203.00 to $233.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Finally, Maxim Group raised their price target on Tetra Tech from $234.00 to $268.00 and gave the stock a “buy” rating in a research note on Thursday, May 16th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Tetra Tech currently has a consensus rating of “Moderate Buy” and a consensus price target of $236.60.

Tetra Tech Stock Performance

Tetra Tech stock opened at $220.40 on Thursday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.24 and a quick ratio of 1.24. Tetra Tech, Inc. has a 12 month low of $132.29 and a 12 month high of $221.40. The company has a market cap of $11.79 billion, a price-to-earnings ratio of 44.62 and a beta of 0.93. The stock’s 50-day moving average is $195.53 and its 200-day moving average is $177.44.

Tetra Tech (NASDAQ:TTEK) last announced its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.13. Tetra Tech had a net margin of 5.36% and a return on equity of 21.16%. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the previous year, the company posted $1.17 earnings per share. Tetra Tech’s revenue was down 9.5% compared to the same quarter last year. Equities analysts anticipate that Tetra Tech, Inc. will post 6.2 earnings per share for the current year.

Tetra Tech Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Monday, May 20th will be given a $0.29 dividend. This is an increase from Tetra Tech’s previous quarterly dividend of $0.26. The ex-dividend date is Friday, May 17th. This represents a $1.16 annualized dividend and a dividend yield of 0.53%. Tetra Tech’s dividend payout ratio is presently 23.48%.

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.