Raymond James Financial Services Advisors Inc. Reduces Stake in Tetra Tech, Inc. (NASDAQ:TTEK)

Raymond James Financial Services Advisors Inc. lessened its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 18.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,325 shares of the industrial products company’s stock after selling 4,233 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Tetra Tech were worth $3,059,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Contravisory Investment Management Inc. bought a new stake in Tetra Tech during the 4th quarter worth approximately $26,000. Meeder Asset Management Inc. raised its position in shares of Tetra Tech by 165.9% in the fourth quarter. Meeder Asset Management Inc. now owns 242 shares of the industrial products company’s stock worth $35,000 after buying an additional 151 shares in the last quarter. Millburn Ridgefield Corp bought a new stake in Tetra Tech during the third quarter valued at $37,000. ST Germain D J Co. Inc. purchased a new position in Tetra Tech during the second quarter worth about $38,000. Finally, Farther Finance Advisors LLC increased its stake in Tetra Tech by 79.9% in the 2nd quarter. Farther Finance Advisors LLC now owns 241 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 107 shares during the last quarter. 93.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on TTEK shares. Royal Bank of Canada boosted their price objective on Tetra Tech from $192.00 to $203.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. KeyCorp assumed coverage on shares of Tetra Tech in a research note on Wednesday, January 10th. They issued an “overweight” rating and a $191.00 price target for the company. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Tetra Tech currently has a consensus rating of “Moderate Buy” and an average price target of $197.25.

Insider Activity at Tetra Tech

In related news, Director J Kenneth Thompson sold 8,400 shares of the stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $165.00, for a total value of $1,386,000.00. Following the completion of the transaction, the director now directly owns 14,485 shares of the company’s stock, valued at $2,390,025. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director J Kenneth Thompson sold 8,400 shares of Tetra Tech stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $165.00, for a total transaction of $1,386,000.00. Following the completion of the transaction, the director now directly owns 14,485 shares of the company’s stock, valued at approximately $2,390,025. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Steven M. Burdick sold 7,515 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 29,890 shares in the company, valued at $5,250,776.30. The disclosure for this sale can be found here. Insiders sold a total of 32,123 shares of company stock worth $5,487,673 over the last quarter. 0.61% of the stock is owned by corporate insiders.

Tetra Tech Stock Up 1.5 %

Shares of TTEK opened at $193.00 on Monday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.25 and a quick ratio of 1.25. Tetra Tech, Inc. has a 1 year low of $132.29 and a 1 year high of $193.84. The stock has a 50 day simple moving average of $178.85 and a two-hundred day simple moving average of $166.78. The firm has a market cap of $10.33 billion, a P/E ratio of 44.68 and a beta of 0.96.

Tetra Tech (NASDAQ:TTEK) last posted its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.05. Tetra Tech had a return on equity of 21.05% and a net margin of 4.77%. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $974.00 million. During the same period last year, the company earned $1.34 EPS. On average, analysts forecast that Tetra Tech, Inc. will post 6.07 earnings per share for the current fiscal year.

Tetra Tech Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 27th. Investors of record on Wednesday, February 14th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Tuesday, February 13th. This represents a $1.04 dividend on an annualized basis and a yield of 0.54%. Tetra Tech’s dividend payout ratio is presently 24.07%.

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.