Tetra Tech (NASDAQ:TTEK) Stock Price Up 3.9% – Here’s What Happened

Shares of Tetra Tech, Inc. (NASDAQ:TTEK) traded up 3.9% during mid-day trading on Tuesday . The stock traded as high as $29.34 and last traded at $29.37. 324,417 shares changed hands during trading, a decline of 90% from the average session volume of 3,325,949 shares. The stock had previously closed at $28.26.

Wall Street Analyst Weigh In

TTEK has been the subject of several recent analyst reports. Maxim Group lowered Tetra Tech from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Royal Bank of Canada set a $49.00 price target on shares of Tetra Tech in a research note on Friday, January 31st. StockNews.com cut shares of Tetra Tech from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. KeyCorp decreased their price target on shares of Tetra Tech from $49.00 to $45.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Finally, Robert W. Baird boosted their price objective on Tetra Tech from $46.00 to $47.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Tetra Tech has an average rating of “Moderate Buy” and an average price target of $47.92.

Tetra Tech Trading Up 3.0 %

The stock has a market capitalization of $7.80 billion, a PE ratio of 30.54 and a beta of 0.89. The company’s 50 day moving average price is $36.39 and its two-hundred day moving average price is $42.48. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.29 and a quick ratio of 1.29.

Tetra Tech (NASDAQ:TTEK) last issued its earnings results on Wednesday, January 29th. The industrial products company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.01. Tetra Tech had a return on equity of 22.58% and a net margin of 4.81%. As a group, analysts expect that Tetra Tech, Inc. will post 1.37 earnings per share for the current year.

Tetra Tech Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were paid a $0.058 dividend. This represents a $0.23 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date was Wednesday, February 12th. Tetra Tech’s dividend payout ratio (DPR) is presently 24.21%.

Insider Transactions at Tetra Tech

In related news, Director Kirsten M. Volpi sold 10,116 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $34.33, for a total transaction of $347,282.28. Following the completion of the sale, the director now directly owns 60,196 shares in the company, valued at approximately $2,066,528.68. This trade represents a 14.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.40% of the company’s stock.

Institutional Trading of Tetra Tech

Hedge funds and other institutional investors have recently made changes to their positions in the company. Oregon Public Employees Retirement Fund raised its position in Tetra Tech by 0.7% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 54,525 shares of the industrial products company’s stock valued at $2,172,000 after purchasing an additional 400 shares during the period. Nordea Investment Management AB grew its holdings in shares of Tetra Tech by 0.9% during the 4th quarter. Nordea Investment Management AB now owns 45,422 shares of the industrial products company’s stock worth $1,809,000 after purchasing an additional 411 shares during the period. CIBC Asset Management Inc increased its position in shares of Tetra Tech by 5.6% during the 4th quarter. CIBC Asset Management Inc now owns 8,318 shares of the industrial products company’s stock worth $331,000 after purchasing an additional 438 shares during the last quarter. LGT Financial Advisors LLC raised its holdings in Tetra Tech by 400.0% in the 3rd quarter. LGT Financial Advisors LLC now owns 555 shares of the industrial products company’s stock valued at $26,000 after buying an additional 444 shares during the period. Finally, Farther Finance Advisors LLC lifted its position in Tetra Tech by 13.0% in the fourth quarter. Farther Finance Advisors LLC now owns 4,009 shares of the industrial products company’s stock valued at $160,000 after buying an additional 461 shares during the last quarter. Institutional investors and hedge funds own 93.89% of the company’s stock.

Tetra Tech Company Profile

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.