First Western Trust Bank Purchases New Position in Tetra Tech, Inc. (NASDAQ:TTEK)

First Western Trust Bank bought a new position in Tetra Tech, Inc. (NASDAQ:TTEK) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 2,581 shares of the industrial products company’s stock, valued at approximately $431,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of TTEK. Contravisory Investment Management Inc. purchased a new position in Tetra Tech during the fourth quarter worth $26,000. Millburn Ridgefield Corp bought a new position in Tetra Tech during the 3rd quarter valued at about $37,000. GAMMA Investing LLC purchased a new stake in Tetra Tech in the 4th quarter worth about $38,000. SRS Capital Advisors Inc. lifted its stake in Tetra Tech by 305.2% in the fourth 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 during the last quarter. Finally, McGlone Suttner Wealth Management Inc. purchased a new position in shares of Tetra Tech during the fourth quarter valued at approximately $89,000. Hedge funds and other institutional investors own 93.89% of the company’s stock.

Tetra Tech Stock Up 0.2 %

Shares of NASDAQ TTEK traded up $0.48 during midday trading on Thursday, reaching $212.36. 186,986 shares of the company’s stock traded hands, compared to its average volume of 271,678. The stock’s 50 day simple moving average is $189.50 and its 200-day simple moving average is $173.06. The company has a quick ratio of 1.25, a current ratio of 1.24 and a debt-to-equity ratio of 0.60. The company has a market cap of $11.36 billion, a price-to-earnings ratio of 42.99 and a beta of 0.93. Tetra Tech, Inc. has a one year low of $132.29 and a one year high of $216.24.

Tetra Tech (NASDAQ:TTEK) last released its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $1.42 EPS for the quarter, topping 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 firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period in the previous year, the company posted $1.17 EPS. The business’s revenue for the quarter was down 9.5% compared to the same quarter last year. On average, analysts predict that Tetra Tech, Inc. will post 6.2 EPS for the current fiscal 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 paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 0.55%. The ex-dividend date is Friday, May 17th. This is a positive change from Tetra Tech’s previous quarterly dividend of $0.26. Tetra Tech’s payout ratio is 23.48%.

Insider Buying and Selling at Tetra Tech

In other news, SVP Brian N. Carter sold 5,580 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $176.52, for a total transaction of $984,981.60. Following the completion of the sale, the senior vice president now owns 8,360 shares in the company, valued at approximately $1,475,707.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Tetra Tech news, SVP Brian N. Carter sold 5,580 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $176.52, for a total transaction of $984,981.60. Following the transaction, the senior vice president now owns 8,360 shares in the company, valued at approximately $1,475,707.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Steven M. Burdick sold 7,515 shares of Tetra Tech stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $175.67, for a total transaction of $1,320,160.05. Following the sale, the chief financial officer now owns 29,890 shares of the company’s stock, valued at $5,250,776.30. The disclosure for this sale can be found here. Insiders sold a total of 16,595 shares of company stock worth $2,925,482 over the last three months. Corporate insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on TTEK shares. Maxim Group increased their price target on 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 Tetra Tech from a “neutral” rating to a “buy” rating and set a $225.00 target price for the company in a research report on Thursday, May 2nd. Robert W. Baird upped their price target on shares of Tetra Tech from $180.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. KeyCorp lifted their price objective on shares of Tetra Tech from $209.00 to $219.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. Finally, StockNews.com upgraded shares of Tetra Tech from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $221.40.

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.