National Bank of Canada FI Trims Stock Holdings in Tetra Tech, Inc. (NASDAQ:TTEK)

National Bank of Canada FI trimmed its holdings in Tetra Tech, Inc. (NASDAQ:TTEK) by 21.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 44,539 shares of the industrial products company’s stock after selling 11,941 shares during the period. National Bank of Canada FI owned about 0.08% of Tetra Tech worth $7,219,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Contravisory Investment Management Inc. bought a new position in shares of Tetra Tech during the fourth quarter worth about $26,000. SRS Capital Advisors Inc. increased its position in Tetra Tech by 305.2% in the fourth quarter. SRS Capital Advisors Inc. now owns 235 shares of the industrial products company’s stock worth $39,000 after buying an additional 177 shares during the period. GAMMA Investing LLC bought a new stake in Tetra Tech in the fourth quarter valued at $38,000. Millburn Ridgefield Corp acquired a new position in shares of Tetra Tech during the third quarter valued at $37,000. Finally, McGlone Suttner Wealth Management Inc. bought a new position in shares of Tetra Tech during the fourth quarter worth about $89,000. Institutional investors and hedge funds own 93.89% of the company’s stock.

Analyst Upgrades and Downgrades

TTEK has been the subject of several analyst reports. Robert W. Baird boosted their price objective on Tetra Tech from $180.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Royal Bank of Canada upped their price objective on Tetra Tech from $203.00 to $233.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Maxim Group raised their price objective on shares of Tetra Tech from $220.00 to $230.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Northcoast Research upgraded Tetra Tech from a “neutral” rating to a “buy” rating and set a $225.00 price objective for the company in a research report on Thursday, May 2nd. Finally, KeyCorp boosted their target price on Tetra Tech from $209.00 to $219.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $221.40.

Insider Buying and Selling

In related news, CFO Steven M. Burdick sold 7,515 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were 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 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 available at this hyperlink. In other news, 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 transaction of $1,320,160.05. Following the sale, the chief financial officer now directly owns 29,890 shares in the company, valued at $5,250,776.30. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director J Kenneth Thompson sold 3,500 shares of Tetra Tech stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $177.24, for a total transaction of $620,340.00. Following the sale, the director now owns 10,985 shares in the company, valued at approximately $1,946,981.40. The disclosure for this sale can be found here. Insiders own 0.61% of the company’s stock.

Tetra Tech Stock Up 0.2 %

NASDAQ:TTEK opened at $212.36 on Friday. Tetra Tech, Inc. has a 1-year low of $132.29 and a 1-year high of $216.24. The firm has a market capitalization of $11.36 billion, a price-to-earnings ratio of 42.99 and a beta of 0.93. 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 business’s fifty day moving average price is $189.50 and its 200 day moving average price is $173.06.

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

Tetra Tech Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Monday, May 20th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Friday, May 17th. This is a positive change from Tetra Tech’s previous quarterly dividend of $0.26. This represents a $1.16 dividend on an annualized basis and a yield of 0.55%. Tetra Tech’s dividend payout ratio (DPR) is presently 23.48%.

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.