TimesSquare Capital Management LLC Has $36.26 Million Holdings in Tetra Tech, Inc. (NASDAQ:TTEK)

TimesSquare Capital Management LLC decreased its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 8.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 217,230 shares of the industrial products company’s stock after selling 19,120 shares during the quarter. TimesSquare Capital Management LLC’s holdings in Tetra Tech were worth $36,262,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Contravisory Investment Management Inc. bought a new position in Tetra Tech in the fourth quarter worth approximately $26,000. Millburn Ridgefield Corp acquired a new position in shares of Tetra Tech during the third quarter worth approximately $37,000. GAMMA Investing LLC bought a new position in shares of Tetra Tech in the 4th quarter worth $38,000. SRS Capital Advisors Inc. lifted its holdings in shares of Tetra Tech by 305.2% in the 4th quarter. SRS Capital Advisors Inc. now owns 235 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 177 shares in the last quarter. Finally, McGlone Suttner Wealth Management Inc. acquired a new stake in Tetra Tech in the 4th quarter valued at $89,000. Institutional investors own 93.89% of the company’s stock.

Insider Activity at Tetra Tech

In other Tetra Tech news, Director J Kenneth Thompson sold 3,500 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $177.24, for a total transaction of $620,340.00. Following the completion of the transaction, the director now owns 10,985 shares in the company, valued at $1,946,981.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Tetra Tech news, Director J Kenneth Thompson sold 3,500 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $177.24, for a total transaction of $620,340.00. Following the sale, the director now owns 10,985 shares of the company’s stock, valued at approximately $1,946,981.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Steven M. Burdick sold 7,515 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now directly owns 29,890 shares of the company’s stock, valued at $5,250,776.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,595 shares of company stock worth $2,925,482. Company insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

TTEK has been the subject of several recent research reports. Royal Bank of Canada boosted their target price on shares of Tetra Tech from $203.00 to $233.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Maxim Group boosted their price target on shares of Tetra Tech from $220.00 to $230.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Northcoast Research upgraded shares of Tetra Tech from a “neutral” rating to a “buy” rating and set a $225.00 price objective for the company in a research note on Thursday, May 2nd. Robert W. Baird boosted their target price on Tetra Tech from $180.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Finally, KeyCorp increased their price target on Tetra Tech from $209.00 to $219.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $221.40.

Tetra Tech Stock Performance

Shares of Tetra Tech stock traded down $1.00 on Wednesday, reaching $211.88. 260,815 shares of the company traded hands, compared to its average volume of 272,629. The company has a 50 day moving average of $188.80 and a 200 day moving average of $172.78. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.24 and a quick ratio of 1.25. Tetra Tech, Inc. has a 52 week low of $132.29 and a 52 week high of $216.24. The firm has a market capitalization of $11.33 billion, a PE ratio of 42.89 and a beta of 0.93.

Tetra Tech (NASDAQ:TTEK) last posted its quarterly earnings data on Wednesday, May 1st. The industrial products company reported $1.42 EPS for the quarter, beating the consensus estimate of $1.29 by $0.13. Tetra Tech had a return on equity of 21.16% and a net margin of 5.36%. The business had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the business earned $1.17 earnings per share. Tetra Tech’s revenue for the quarter was down 9.5% on a year-over-year basis. Equities analysts forecast that Tetra Tech, Inc. will post 6.2 earnings per share for the current year.

Tetra Tech Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Monday, May 20th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Friday, May 17th. This represents a $1.16 annualized dividend and a yield of 0.55%. This is a positive change from Tetra Tech’s previous quarterly dividend of $0.26. Tetra Tech’s dividend payout ratio (DPR) is 23.48%.

Tetra Tech 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.