Tetra Tech, Inc. (NASDAQ:TTEK) Stake Boosted by Truist Financial Corp

Truist Financial Corp grew its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK – Get Rating) by 31.3% in the 3rd quarter, Holdings Channel reports. The firm owned 8,904 shares of the industrial products company’s stock after acquiring an additional 2,124 shares during the quarter. Truist Financial Corp’s holdings in Tetra Tech were worth $1,145,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Tetra Tech by 1.2% during the first quarter. Vanguard Group Inc. now owns 5,303,607 shares of the industrial products company’s stock valued at $874,777,000 after purchasing an additional 61,906 shares during the last quarter. Pictet Asset Management SA grew its holdings in shares of Tetra Tech by 5.8% during the second quarter. Pictet Asset Management SA now owns 2,577,458 shares of the industrial products company’s stock valued at $351,989,000 after purchasing an additional 141,932 shares during the last quarter. State Street Corp grew its holdings in shares of Tetra Tech by 1.9% during the first quarter. State Street Corp now owns 1,707,196 shares of the industrial products company’s stock valued at $281,585,000 after purchasing an additional 31,942 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Tetra Tech by 7.5% during the first quarter. Invesco Ltd. now owns 917,617 shares of the industrial products company’s stock valued at $151,353,000 after purchasing an additional 64,168 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of Tetra Tech by 12.9% during the first quarter. Bank of America Corp DE now owns 866,098 shares of the industrial products company’s stock valued at $142,854,000 after purchasing an additional 98,751 shares during the last quarter. 85.28% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director J Christopher Lewis sold 14,649 shares of the stock in a transaction on Wednesday, December 14th. The stock was sold at an average price of $157.56, for a total transaction of $2,308,096.44. Following the completion of the sale, the director now owns 57,875 shares in the company, valued at approximately $9,118,785. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Preston Hopson III sold 3,616 shares of the stock in a transaction on Monday, November 21st. The stock was sold at an average price of $157.52, for a total transaction of $569,592.32. Following the completion of the sale, the senior vice president now owns 10,395 shares in the company, valued at approximately $1,637,420.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director J Christopher Lewis sold 14,649 shares of the stock in a transaction on Wednesday, December 14th. The shares were sold at an average price of $157.56, for a total value of $2,308,096.44. Following the sale, the director now owns 57,875 shares of the company’s stock, valued at approximately $9,118,785. The disclosure for this sale can be found here. Insiders sold 58,580 shares of company stock worth $9,093,178 over the last ninety days. Company insiders own 1.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Maxim Group upped their target price on Tetra Tech from $190.00 to $200.00 in a report on Friday, November 11th. StockNews.com raised Tetra Tech from a “hold” rating to a “buy” rating in a report on Saturday, December 17th.

Tetra Tech Stock Performance

Shares of TTEK stock opened at $146.49 on Friday. The firm has a market capitalization of $7.76 billion, a price-to-earnings ratio of 30.08 and a beta of 0.93. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.26 and a quick ratio of 1.26. Tetra Tech, Inc. has a 12-month low of $118.55 and a 12-month high of $169.95. The business has a 50 day simple moving average of $150.01 and a 200 day simple moving average of $142.41.

Tetra Tech (NASDAQ:TTEK – Get Rating) last released its earnings results on Wednesday, November 9th. The industrial products company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.09. The firm had revenue of $736.10 million during the quarter, compared to the consensus estimate of $712.86 million. Tetra Tech had a return on equity of 20.02% and a net margin of 7.51%. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.05 earnings per share. On average, equities research analysts anticipate that Tetra Tech, Inc. will post 4.84 EPS for the current year.

Tetra Tech Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 9th. Shareholders of record on Monday, November 21st were given a $0.23 dividend. The ex-dividend date was Friday, November 18th. This represents a $0.92 dividend on an annualized basis and a yield of 0.63%. Tetra Tech’s dividend payout ratio (DPR) is 18.89%.

Tetra Tech Profile

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Tetra Tech, Inc engages in the provision of consulting and engineering services. It operates through the following segments: Government Services Group (GSG), Commercial and International Services Group (CIG), and Remediation and Construction Management (RCM). The GSG segment offers consulting and engineering services primarily to United States government clients such as federal, state and local, and development agencies worldwide.