Raymond James Financial Services Advisors Inc. Cuts Stock Holdings in Tetra Tech, Inc. (NASDAQ:TTEK)

Raymond James Financial Services Advisors Inc. trimmed its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEKGet Rating) by 5.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 6,680 shares of the industrial products company’s stock after selling 371 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Tetra Tech were worth $859,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Arizona State Retirement System boosted its position in Tetra Tech by 0.5% during the second quarter. Arizona State Retirement System now owns 14,634 shares of the industrial products company’s stock valued at $1,998,000 after buying an additional 68 shares during the period. Inspire Investing LLC boosted its position in Tetra Tech by 5.8% during the second quarter. Inspire Investing LLC now owns 1,598 shares of the industrial products company’s stock valued at $218,000 after buying an additional 87 shares during the period. US Bancorp DE boosted its position in Tetra Tech by 4.2% during the first quarter. US Bancorp DE now owns 2,170 shares of the industrial products company’s stock valued at $358,000 after buying an additional 87 shares during the period. Synovus Financial Corp boosted its position in Tetra Tech by 2.3% during the first quarter. Synovus Financial Corp now owns 4,055 shares of the industrial products company’s stock valued at $654,000 after buying an additional 93 shares during the period. Finally, Private Trust Co. NA boosted its position in Tetra Tech by 64.3% during the third quarter. Private Trust Co. NA now owns 253 shares of the industrial products company’s stock valued at $33,000 after buying an additional 99 shares during the period. 85.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Dan L. Batrack sold 30,000 shares of the stock in a transaction dated Thursday, December 15th. The shares were sold at an average price of $153.63, for a total value of $4,608,900.00. Following the completion of the transaction, the chief executive officer now directly owns 48,487 shares of the company’s stock, valued at $7,449,057.81. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Tetra Tech news, Director J Christopher Lewis sold 14,649 shares of the firm’s stock in a transaction that occurred on Wednesday, December 14th. The shares were sold at an average price of $157.56, for a total transaction of $2,308,096.44. Following the completion of the transaction, the director now owns 57,875 shares of the company’s stock, valued at $9,118,785. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Dan L. Batrack sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 15th. The shares were sold at an average price of $153.63, for a total transaction of $4,608,900.00. Following the transaction, the chief executive officer now directly owns 48,487 shares of the company’s stock, valued at approximately $7,449,057.81. The disclosure for this sale can be found here. Insiders sold a total of 58,580 shares of company stock valued at $9,093,178 over the last three months. Corporate insiders own 1.20% of the company’s stock.

Analyst Upgrades and Downgrades

TTEK has been the subject of a number of analyst reports. Maxim Group increased their target price on shares of Tetra Tech from $190.00 to $200.00 in a report on Friday, November 11th. StockNews.com upgraded shares of Tetra Tech from a “hold” rating to a “buy” rating in a report on Saturday, December 17th.

Tetra Tech Stock Performance

Tetra Tech stock opened at $151.91 on Monday. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.21. The firm has a 50-day moving average of $149.79 and a 200-day moving average of $142.57. The firm has a market cap of $8.09 billion, a P/E ratio of 31.19 and a beta of 0.93. Tetra Tech, Inc. has a 1-year low of $118.55 and a 1-year high of $169.95.

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

Tetra Tech Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 9th. Investors of record on Monday, November 21st were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date was Friday, November 18th. Tetra Tech’s payout ratio is currently 18.89%.

Tetra Tech Company 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.

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Institutional Ownership by Quarter for Tetra Tech (NASDAQ:TTEK)

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