ELCO Management Co. LLC Acquires 5,271 Shares of Tetra Tech, Inc. $TTEK

ELCO Management Co. LLC lifted its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 52.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,260 shares of the industrial products company’s stock after purchasing an additional 5,271 shares during the quarter. ELCO Management Co. LLC’s holdings in Tetra Tech were worth $549,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Chilton Capital Management LLC bought a new position in shares of Tetra Tech during the first quarter worth approximately $25,000. Baillie Gifford & Co. bought a new position in shares of Tetra Tech during the first quarter worth approximately $27,000. Central Pacific Bank Trust Division bought a new position in shares of Tetra Tech during the second quarter worth approximately $32,000. SVB Wealth LLC bought a new position in shares of Tetra Tech during the first quarter worth approximately $36,000. Finally, Geneos Wealth Management Inc. increased its holdings in shares of Tetra Tech by 136.1% during the first quarter. Geneos Wealth Management Inc. now owns 1,303 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 751 shares during the period. 93.89% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Tetra Tech news, Director Gary Birkenbeuel sold 2,390 shares of the firm’s stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $36.00, for a total value of $86,040.00. Following the sale, the director owned 37,725 shares in the company, valued at $1,358,100. This trade represents a 5.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.40% of the stock is owned by corporate insiders.

Tetra Tech Stock Performance

Shares of Tetra Tech stock opened at $32.58 on Wednesday. Tetra Tech, Inc. has a fifty-two week low of $27.27 and a fifty-two week high of $51.20. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.18 and a quick ratio of 1.18. The firm has a market capitalization of $8.56 billion, a P/E ratio of 40.73 and a beta of 0.94. The company’s 50 day moving average price is $34.82 and its two-hundred day moving average price is $34.96.

Tetra Tech (NASDAQ:TTEK) last issued its earnings results on Wednesday, July 30th. The industrial products company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. Tetra Tech had a net margin of 3.94% and a return on equity of 24.70%. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter last year, the business posted $1.59 earnings per share. The company’s quarterly revenue was up 1.9% on a year-over-year basis. On average, equities analysts forecast that Tetra Tech, Inc. will post 1.37 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on TTEK shares. Northcoast Research reiterated a “neutral” rating on shares of Tetra Tech in a research report on Wednesday, October 1st. National Bank Financial started coverage on shares of Tetra Tech in a research report on Wednesday, October 8th. They set an “outperform” rating and a $41.00 price target on the stock. Wall Street Zen upgraded shares of Tetra Tech from a “hold” rating to a “buy” rating in a research report on Saturday. KeyCorp increased their price target on shares of Tetra Tech from $41.00 to $43.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Finally, Royal Bank Of Canada set a $47.00 price target on shares of Tetra Tech and gave the stock an “outperform” rating in a research report on Monday, September 29th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $41.00.

About Tetra Tech

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.