Candriam Luxembourg S.C.A. lifted its position in Tetra Tech, Inc. (NASDAQ:TTEK) by 633.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 50,351 shares of the industrial products company’s stock after acquiring an additional 43,489 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Tetra Tech were worth $4,338,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Parallel Advisors LLC raised its stake in shares of Tetra Tech by 62.0% in the third quarter. Parallel Advisors LLC now owns 337 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 129 shares in the last quarter. First Citizens Bank & Trust Co. raised its stake in shares of Tetra Tech by 5.1% in the third quarter. First Citizens Bank & Trust Co. now owns 2,779 shares of the industrial products company’s stock valued at $241,000 after purchasing an additional 135 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Tetra Tech by 2.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 7,021 shares of the industrial products company’s stock valued at $605,000 after purchasing an additional 135 shares in the last quarter. Texas Permanent School Fund raised its stake in shares of Tetra Tech by 0.4% in the fourth quarter. Texas Permanent School Fund now owns 37,339 shares of the industrial products company’s stock valued at $3,217,000 after purchasing an additional 143 shares in the last quarter. Finally, First Business Financial Services Inc. raised its stake in shares of Tetra Tech by 3.6% in the third quarter. First Business Financial Services Inc. now owns 4,212 shares of the industrial products company’s stock valued at $365,000 after purchasing an additional 147 shares in the last quarter. Institutional investors and hedge funds own 83.82% of the company’s stock.
Shares of NASDAQ:TTEK opened at $98.00 on Friday. The business’s fifty day moving average price is $89.16 and its two-hundred day moving average price is $85.49. Tetra Tech, Inc. has a fifty-two week low of $57.25 and a fifty-two week high of $99.34. The stock has a market capitalization of $5.36 billion, a price-to-earnings ratio of 33.33, a price-to-earnings-growth ratio of 1.76 and a beta of 0.98. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.47 and a quick ratio of 1.47.
Tetra Tech (NASDAQ:TTEK) last announced its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.07. Tetra Tech had a return on equity of 18.34% and a net margin of 5.14%. The firm had revenue of $614.02 million for the quarter, compared to analysts’ expectations of $615.07 million. During the same period in the prior year, the business posted $0.70 earnings per share. The business’s revenue was up 11.0% compared to the same quarter last year. Research analysts expect that Tetra Tech, Inc. will post 3.49 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Wednesday, February 12th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date is Tuesday, February 11th. Tetra Tech’s dividend payout ratio (DPR) is 18.93%.
A number of analysts have weighed in on TTEK shares. BidaskClub upgraded Tetra Tech from a “hold” rating to a “buy” rating in a research report on Tuesday. Maxim Group upped their price target on Tetra Tech from $92.00 to $104.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Finally, Cfra cut Tetra Tech from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $86.00.
In other Tetra Tech news, SVP Brian N. Carter sold 3,099 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $86.00, for a total value of $266,514.00. Following the sale, the senior vice president now directly owns 6,851 shares in the company, valued at $589,186. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Roger R. Argus sold 2,436 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $86.46, for a total value of $210,616.56. Following the completion of the sale, the senior vice president now owns 3,886 shares in the company, valued at $335,983.56. The disclosure for this sale can be found here. Insiders sold 144,430 shares of company stock worth $13,221,429 over the last quarter. Company insiders own 1.97% of the company’s stock.
Tetra Tech Company Profile
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.
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