Artemis Investment Management LLP Has $704,000 Stock Position in Tetra Tech, Inc. (NASDAQ:TTEK)

Artemis Investment Management LLP decreased its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 44.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,814 shares of the industrial products company’s stock after selling 3,016 shares during the quarter. Artemis Investment Management LLP’s holdings in Tetra Tech were worth $704,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of TTEK. Norges Bank acquired a new position in shares of Tetra Tech during the 4th quarter worth $96,655,000. AEGON ASSET MANAGEMENT UK Plc acquired a new position in shares of Tetra Tech during the 4th quarter worth $82,209,000. International Assets Investment Management LLC increased its stake in shares of Tetra Tech by 16,621.9% during the 4th quarter. International Assets Investment Management LLC now owns 221,064 shares of the industrial products company’s stock worth $36,902,000 after purchasing an additional 219,742 shares during the last quarter. Sarasin & Partners LLP boosted its holdings 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 worth $203,976,000 after buying an additional 189,049 shares during the period. Finally, Bank of Nova Scotia bought a new stake in shares of Tetra Tech during the 3rd quarter worth $23,934,000. Institutional investors and hedge funds own 93.89% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on TTEK shares. Maxim Group upped their price objective on shares of Tetra Tech from $234.00 to $268.00 and gave the stock a “buy” rating in a report on Thursday, May 16th. StockNews.com downgraded shares of Tetra Tech from a “buy” rating to a “hold” rating in a report on Wednesday, June 19th. Robert W. Baird upped their price objective on shares of Tetra Tech from $200.00 to $223.00 and gave the stock a “neutral” rating in a report on Wednesday, May 15th. Northcoast Research raised shares of Tetra Tech from a “neutral” rating to a “buy” rating and set a $225.00 price objective for the company in a report on Thursday, May 2nd. Finally, Royal Bank of Canada increased their price target on shares of Tetra Tech from $203.00 to $233.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $236.60.

Tetra Tech Stock Performance

Tetra Tech stock traded down $10.57 during mid-day trading on Friday, reaching $204.48. The company had a trading volume of 682,071 shares, compared to its average volume of 276,812. The company has a 50 day moving average of $207.78 and a 200-day moving average of $186.26. The firm has a market cap of $10.94 billion, a price-to-earnings ratio of 43.53 and a beta of 0.98. Tetra Tech, Inc. has a 52 week low of $143.35 and a 52 week high of $221.40. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.60.

Tetra Tech (NASDAQ:TTEK) last released its quarterly earnings data 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. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.03 billion. Tetra Tech had a net margin of 5.36% and a return on equity of 21.16%. The firm’s revenue for the quarter was down 9.5% compared to the same quarter last year. During the same period last year, the firm earned $1.17 EPS. On average, sell-side analysts expect that Tetra Tech, Inc. will post 6.2 EPS for the current fiscal year.

Tetra Tech Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Monday, May 20th were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.57%. This is an increase from Tetra Tech’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Friday, May 17th. Tetra Tech’s dividend payout ratio (DPR) is presently 23.48%.

Insider Transactions at Tetra Tech

In other news, EVP Leslie L. Shoemaker sold 11,161 shares of the firm’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $211.83, for a total transaction of $2,364,234.63. Following the completion of the transaction, the executive vice president now directly owns 74,887 shares of the company’s stock, valued at approximately $15,863,313.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.61% of the stock is owned by insiders.

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.