Tetra Tech, Inc. (NASDAQ:TTEK) Shares Sold by Park Avenue Securities LLC

Park Avenue Securities LLC reduced its stake in Tetra Tech, Inc. (NASDAQ:TTEKGet Rating) by 10.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,101 shares of the industrial products company’s stock after selling 242 shares during the period. Park Avenue Securities LLC’s holdings in Tetra Tech were worth $270,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of TTEK. Millennium Management LLC raised its stake in shares of Tetra Tech by 1,602.0% in the second quarter. Millennium Management LLC now owns 469,018 shares of the industrial products company’s stock valued at $64,044,000 after acquiring an additional 441,461 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Tetra Tech by 669.8% in the second quarter. Allspring Global Investments Holdings LLC now owns 439,408 shares of the industrial products company’s stock valued at $59,999,000 after acquiring an additional 382,324 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Tetra Tech in the second quarter valued at $36,885,000. Pictet Asset Management SA raised its stake in shares of Tetra Tech by 5.8% in 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 acquiring an additional 141,932 shares in the last quarter. Finally, Walleye Capital LLC acquired a new stake in shares of Tetra Tech in the first quarter valued at $19,880,000. 85.28% of the stock is currently owned by institutional investors and hedge funds.

Tetra Tech Stock Performance

NASDAQ:TTEK opened at $154.00 on Tuesday. The firm has a market capitalization of $8.20 billion, a PE ratio of 31.62 and a beta of 0.93. The business’s fifty day moving average price is $149.72 and its 200 day moving average price is $142.66. 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.

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

Tetra Tech Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 9th. Shareholders of record on Monday, November 21st were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 0.60%. The ex-dividend date of this dividend was Friday, November 18th. Tetra Tech’s payout ratio is 18.89%.

Insiders Place Their Bets

In other Tetra Tech news, CEO Dan L. Batrack sold 30,000 shares of the firm’s stock in a transaction dated Thursday, December 15th. The stock was 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 owns 48,487 shares of the company’s stock, valued at $7,449,057.81. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director J Christopher Lewis sold 14,649 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 57,875 shares of the company’s stock, valued at $9,118,785. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Dan L. Batrack sold 30,000 shares of the firm’s stock in a transaction dated Thursday, December 15th. The stock was sold at an average price of $153.63, for a total value of $4,608,900.00. Following the transaction, the chief executive officer now directly owns 48,487 shares in the company, valued at approximately $7,449,057.81. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 58,580 shares of company stock valued at $9,093,178. 0.76% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on TTEK. Maxim Group increased 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 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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