Transcend Capital Advisors LLC Makes New Investment in Tetra Tech, Inc. $TTEK

Transcend Capital Advisors LLC bought a new position in Tetra Tech, Inc. (NASDAQ:TTEK) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 7,951 shares of the industrial products company’s stock, valued at approximately $286,000.

Several other hedge funds have also recently modified their holdings of the stock. US Bancorp DE lifted its holdings in shares of Tetra Tech by 1.7% in the second quarter. US Bancorp DE now owns 18,326 shares of the industrial products company’s stock worth $659,000 after buying an additional 299 shares in the last quarter. Ethic Inc. lifted its holdings in shares of Tetra Tech by 1.2% in the first quarter. Ethic Inc. now owns 28,745 shares of the industrial products company’s stock worth $849,000 after buying an additional 334 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its position in shares of Tetra Tech by 22.4% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 2,062 shares of the industrial products company’s stock valued at $74,000 after purchasing an additional 377 shares in the last quarter. Legacy Wealth Asset Management LLC grew its position in shares of Tetra Tech by 1.3% during the second quarter. Legacy Wealth Asset Management LLC now owns 30,713 shares of the industrial products company’s stock valued at $1,104,000 after purchasing an additional 391 shares in the last quarter. Finally, Verdence Capital Advisors LLC grew its position in shares of Tetra Tech by 5.6% during the second quarter. Verdence Capital Advisors LLC now owns 8,195 shares of the industrial products company’s stock valued at $295,000 after purchasing an additional 434 shares in the last quarter. Hedge funds and other institutional investors own 93.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on TTEK. Royal Bank Of Canada set a $47.00 price objective on Tetra Tech and gave the company an “outperform” rating in a research report on Monday, September 29th. KeyCorp raised their price objective on Tetra Tech from $41.00 to $43.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Weiss Ratings restated a “hold (c)” rating on shares of Tetra Tech in a research report on Wednesday, October 8th. National Bank Financial initiated coverage on Tetra Tech in a research report on Wednesday, October 8th. They set an “outperform” rating and a $41.00 price objective for the company. Finally, Northcoast Research reaffirmed a “neutral” rating on shares of Tetra Tech in a research note on Wednesday, October 1st. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $41.00.

Insider Buying and Selling at Tetra Tech

In other news, Director Gary Birkenbeuel sold 2,390 shares of the firm’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $36.00, for a total value of $86,040.00. Following the completion of the sale, the director owned 37,725 shares in the company, valued at approximately $1,358,100. This trade represents a 5.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.40% of the company’s stock.

Tetra Tech Trading Up 1.0%

TTEK opened at $32.18 on Friday. The firm has a market cap of $8.46 billion, a P/E ratio of 40.23 and a beta of 0.94. Tetra Tech, Inc. has a 12 month low of $27.27 and a 12 month high of $51.20. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.50. The stock has a 50-day moving average of $34.67 and a 200 day moving average of $34.95.

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

Tetra Tech Company 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.