Handelsinvest Investeringsforvaltning Has $277,000 Position in Tetra Tech, Inc. (NASDAQ:TTEK)

Handelsinvest Investeringsforvaltning reduced its position in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 34.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,498 shares of the industrial products company’s stock after selling 778 shares during the period. Handelsinvest Investeringsforvaltning’s holdings in Tetra Tech were worth $277,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in TTEK. Rise Advisors LLC acquired a new position in Tetra Tech in the 1st quarter valued at $27,000. Contravisory Investment Management Inc. acquired a new position in Tetra Tech in the 4th quarter valued at $26,000. Jones Financial Companies Lllp acquired a new position in Tetra Tech in the 4th quarter valued at $33,000. Principal Securities Inc. acquired a new position in Tetra Tech in the 4th quarter valued at $36,000. Finally, Creekmur Asset Management LLC acquired a new position in Tetra Tech in the 4th quarter valued at $38,000. 93.89% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Leslie L. Shoemaker sold 11,161 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $211.83, for a total value of $2,364,234.63. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.61% of the company’s stock.

Tetra Tech Price Performance

TTEK stock traded down $1.35 during midday trading on Wednesday, reaching $198.77. 7,183 shares of the stock were exchanged, compared to its average volume of 277,216. The stock has a market capitalization of $10.63 billion, a PE ratio of 40.51 and a beta of 0.94. Tetra Tech, Inc. has a 52 week low of $143.35 and a 52 week high of $221.40. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.24 and a quick ratio of 1.24. The company has a fifty day moving average price of $208.67 and a 200 day moving average price of $187.27.

Tetra Tech (NASDAQ:TTEK) last issued its quarterly earnings data on Wednesday, May 1st. The industrial products company reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.13. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. Tetra Tech had a return on equity of 21.16% and a net margin of 5.36%. Tetra Tech’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 EPS. As a group, analysts expect that Tetra Tech, Inc. will post 6.2 EPS for the current fiscal year.

Tetra Tech Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Monday, May 20th were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, May 17th. This is an increase from Tetra Tech’s previous quarterly dividend of $0.26. This represents a $1.16 annualized dividend and a yield of 0.58%. Tetra Tech’s payout ratio is presently 23.48%.

Analysts Set New Price Targets

Several equities analysts have weighed in on TTEK shares. Northcoast Research raised 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. KeyCorp lifted their price target on Tetra Tech from $231.00 to $234.00 and gave the company an “overweight” rating in a research note on Thursday, May 23rd. Maxim Group lifted their price target on Tetra Tech from $234.00 to $268.00 and gave the company a “buy” rating in a research note on Thursday, May 16th. Robert W. Baird lifted their price target on Tetra Tech from $200.00 to $223.00 and gave the company a “neutral” rating in a research note on Wednesday, May 15th. Finally, StockNews.com lowered Tetra Tech from a “buy” rating to a “hold” rating in a research note on Wednesday, June 19th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Tetra Tech currently has a consensus rating of “Moderate Buy” and a consensus price target of $236.60.

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.