Amalgamated Bank Cuts Stake in Tetra Tech, Inc. (NASDAQ:TTEK)

Amalgamated Bank lessened its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 2.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 34,876 shares of the industrial products company’s stock after selling 947 shares during the period. Amalgamated Bank owned about 0.07% of Tetra Tech worth $5,822,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. AEGON ASSET MANAGEMENT UK Plc bought a new stake in Tetra Tech in the 4th quarter valued at about $82,209,000. International Assets Investment Management LLC raised its position in shares of Tetra Tech by 16,621.9% in the fourth quarter. International Assets Investment Management LLC now owns 221,064 shares of the industrial products company’s stock valued at $36,902,000 after purchasing an additional 219,742 shares during the period. Sarasin & Partners LLP lifted its stake in shares of Tetra Tech by 18.3% during the 4th quarter. Sarasin & Partners LLP now owns 1,221,928 shares of the industrial products company’s stock valued at $203,976,000 after buying an additional 189,049 shares in the last quarter. Bank of Nova Scotia bought a new position in Tetra Tech in the 3rd quarter worth approximately $23,934,000. Finally, Janney Montgomery Scott LLC grew its stake in Tetra Tech by 2,283.4% in the 3rd quarter. Janney Montgomery Scott LLC now owns 148,581 shares of the industrial products company’s stock valued at $22,589,000 after buying an additional 142,347 shares in the last quarter. Institutional investors own 93.89% of the company’s stock.

Tetra Tech Stock Up 2.1 %

Shares of NASDAQ:TTEK opened at $212.12 on Tuesday. Tetra Tech, Inc. has a 12-month low of $132.29 and a 12-month high of $215.44. The company has a current ratio of 1.24, a quick ratio of 1.25 and a debt-to-equity ratio of 0.60. The stock’s 50-day moving average price is $187.34 and its 200-day moving average price is $172.11. The stock has a market capitalization of $11.35 billion, a P/E ratio of 42.94 and a beta of 0.93.

Tetra Tech (NASDAQ:TTEK) last announced its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.13. Tetra Tech had a return on equity of 21.16% and a net margin of 5.36%. The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the previous year, the firm earned $1.17 EPS. The business’s quarterly revenue was down 9.5% on a year-over-year basis. On average, equities analysts anticipate that Tetra Tech, Inc. will post 6.2 earnings per share for the current year.

Tetra Tech Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Monday, May 20th will be given a $0.29 dividend. This is a boost from Tetra Tech’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Friday, May 17th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.55%. Tetra Tech’s payout ratio is presently 21.05%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on TTEK. Maxim Group increased their price objective 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 raised shares of Tetra Tech from a “neutral” rating to a “buy” rating and set a $225.00 price target on the stock in a report on Thursday, May 2nd. Royal Bank of Canada boosted their price objective on shares of Tetra Tech from $203.00 to $233.00 and gave the company an “outperform” rating in a research note on Friday. KeyCorp lifted their price objective on Tetra Tech from $209.00 to $219.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Robert W. Baird upped their price objective on shares of Tetra Tech from $180.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Tetra Tech presently has a consensus rating of “Moderate Buy” and an average price target of $221.40.

Insider Activity

In related news, CFO Steven M. Burdick sold 7,515 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer now owns 29,890 shares in the company, valued at approximately $5,250,776.30. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CFO Steven M. Burdick sold 7,515 shares of the firm’s stock in a transaction 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 owns 29,890 shares of the company’s stock, valued at $5,250,776.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Brian N. Carter sold 5,580 shares of the company’s 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 transaction, the senior vice president now owns 8,360 shares of the company’s stock, valued at $1,475,707.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,595 shares of company stock valued at $2,925,482. Insiders own 0.61% of the company’s stock.

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.