Alliancebernstein L.P. Sells 3,485,428 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

Alliancebernstein L.P. lessened its position in Tetra Tech, Inc. (NASDAQ:TTEK) by 30.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,850,987 shares of the industrial products company’s stock after selling 3,485,428 shares during the quarter. Alliancebernstein L.P. owned about 2.93% of Tetra Tech worth $312,783,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. New England Research & Management Inc. acquired a new stake in shares of Tetra Tech in the fourth quarter valued at about $596,000. Nicola Wealth Management LTD. boosted its stake in Tetra Tech by 36.8% during the 4th quarter. Nicola Wealth Management LTD. now owns 65,000 shares of the industrial products company’s stock valued at $2,590,000 after purchasing an additional 17,500 shares during the period. Lecap Asset Management Ltd. grew its holdings in Tetra Tech by 71.3% in the 4th quarter. Lecap Asset Management Ltd. now owns 44,769 shares of the industrial products company’s stock valued at $1,784,000 after buying an additional 18,635 shares during the last quarter. Y Intercept Hong Kong Ltd increased its position in Tetra Tech by 53.3% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 39,150 shares of the industrial products company’s stock worth $1,560,000 after buying an additional 13,606 shares during the period. Finally, Perpetual Ltd lifted its holdings in shares of Tetra Tech by 9.6% during the fourth quarter. Perpetual Ltd now owns 215,042 shares of the industrial products company’s stock worth $8,567,000 after buying an additional 18,842 shares during the last quarter. Institutional investors and hedge funds own 93.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on TTEK shares. Maxim Group lowered shares of Tetra Tech from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. KeyCorp dropped their price objective on shares of Tetra Tech from $49.00 to $45.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Finally, Royal Bank of Canada set a $49.00 price objective on shares of Tetra Tech in a research report on Friday, January 31st. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Tetra Tech currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.92.

Tetra Tech Stock Up 0.3 %

TTEK opened at $29.25 on Tuesday. The company has a market capitalization of $7.84 billion, a P/E ratio of 30.72 and a beta of 0.93. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.29 and a quick ratio of 1.29. The firm’s fifty day moving average price is $31.87 and its two-hundred day moving average price is $40.00. Tetra Tech, Inc. has a fifty-two week low of $28.17 and a fifty-two week high of $51.20.

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, beating the consensus estimate of $0.34 by $0.01. Tetra Tech had a net margin of 4.81% and a return on equity of 22.58%. On average, analysts anticipate that Tetra Tech, Inc. will post 1.37 EPS for the current year.

Tetra Tech Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were issued a $0.058 dividend. The ex-dividend date was Wednesday, February 12th. This represents a $0.23 dividend on an annualized basis and a dividend yield of 0.79%. Tetra Tech’s payout ratio is presently 24.21%.

Insider Buying and Selling

In other Tetra Tech news, Director Kirsten M. Volpi sold 10,116 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $34.33, for a total transaction of $347,282.28. Following the completion of the transaction, the director now directly owns 60,196 shares in the company, valued at $2,066,528.68. This represents a 14.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.40% of the stock is owned by corporate insiders.

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.