Macquarie Group Ltd. Has $35.93 Million Position in Tetra Tech, Inc. (TTEK)

Macquarie Group Ltd. boosted its stake in Tetra Tech, Inc. (NASDAQ:TTEK) by 9.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 746,162 shares of the industrial products company’s stock after purchasing an additional 63,040 shares during the quarter. Macquarie Group Ltd.’s holdings in Tetra Tech were worth $35,928,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Prime Capital Investment Advisors LLC bought a new position in Tetra Tech in the fourth quarter valued at about $111,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Tetra Tech by 50.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,054 shares of the industrial products company’s stock valued at $147,000 after acquiring an additional 1,019 shares during the last quarter. Global X Management Co. LLC grew its position in Tetra Tech by 75.2% in the fourth quarter. Global X Management Co. LLC now owns 3,985 shares of the industrial products company’s stock valued at $192,000 after acquiring an additional 1,710 shares during the last quarter. CAPROCK Group Inc. bought a new position in Tetra Tech in the fourth quarter valued at about $200,000. Finally, CIBC Asset Management Inc bought a new position in Tetra Tech in the fourth quarter valued at about $205,000. 87.21% of the stock is owned by institutional investors and hedge funds.

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In other news, SVP William R. Brownlie sold 12,713 shares of the business’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $50.36, for a total transaction of $640,226.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Mark A. Rynning sold 660 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $50.44, for a total value of $33,290.40. Following the sale, the senior vice president now owns 3,358 shares in the company, valued at $169,377.52. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 164,331 shares of company stock worth $8,343,340. Company insiders own 3.40% of the company’s stock.

A number of research firms have issued reports on TTEK. Zacks Investment Research cut Tetra Tech from a “hold” rating to a “sell” rating in a research report on Thursday, January 11th. BidaskClub cut Tetra Tech from a “buy” rating to a “hold” rating in a research report on Wednesday, January 10th. Canaccord Genuity reiterated a “buy” rating and issued a $60.00 target price on shares of Tetra Tech in a research report on Thursday, February 1st. Boenning Scattergood reiterated a “buy” rating and issued a $65.00 target price on shares of Tetra Tech in a research report on Thursday, March 15th. Finally, ValuEngine upgraded Tetra Tech from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Tetra Tech has a consensus rating of “Buy” and an average target price of $56.14.

Shares of TTEK stock opened at $51.35 on Wednesday. The firm has a market capitalization of $2,867.94, a PE ratio of 22.42, a PEG ratio of 1.53 and a beta of 1.00. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.25 and a current ratio of 2.25. Tetra Tech, Inc. has a twelve month low of $39.00 and a twelve month high of $53.40.

Tetra Tech (NASDAQ:TTEK) last released its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $0.65 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.12. The company had revenue of $544.85 million for the quarter, compared to analysts’ expectations of $510.22 million. Tetra Tech had a return on equity of 14.26% and a net margin of 4.83%. The business’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.49 earnings per share. research analysts anticipate that Tetra Tech, Inc. will post 2.49 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, March 2nd. Stockholders of record on Wednesday, February 14th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.78%. The ex-dividend date was Tuesday, February 13th. Tetra Tech’s dividend payout ratio (DPR) is currently 16.74%.

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Tetra Tech Company Profile

Tetra Tech, Inc is a provider of consulting, engineering, program management, construction management, and technical services. The Company’s segments include Water, Environment and Infrastructure (WEI), Resource Management and Energy (RME), and Remediation and Construction Management (RCM). The WEI segment provides consulting and engineering services.

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

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