HighPoint Advisor Group LLC Decreases Stock Holdings in Tetra Tech, Inc. (NASDAQ:TTEK)

HighPoint Advisor Group LLC cut its stake in Tetra Tech, Inc. (NASDAQ:TTEK) by 9.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,977 shares of the industrial products company’s stock after selling 1,590 shares during the period. HighPoint Advisor Group LLC’s holdings in Tetra Tech were worth $637,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Geode Capital Management LLC grew its holdings in Tetra Tech by 406.6% in the 3rd quarter. Geode Capital Management LLC now owns 4,716,080 shares of the industrial products company’s stock valued at $222,466,000 after buying an additional 3,785,189 shares in the last quarter. Norges Bank purchased a new stake in shares of Tetra Tech in the fourth quarter valued at about $121,390,000. King Luther Capital Management Corp increased its position in Tetra Tech by 324.0% during the fourth quarter. King Luther Capital Management Corp now owns 1,278,295 shares of the industrial products company’s stock worth $50,927,000 after purchasing an additional 976,810 shares during the last quarter. Wellington Management Group LLP increased its position in Tetra Tech by 365.5% during the third quarter. Wellington Management Group LLP now owns 1,077,828 shares of the industrial products company’s stock worth $50,830,000 after purchasing an additional 846,284 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its stake in Tetra Tech by 130.8% during the fourth quarter. Teacher Retirement System of Texas now owns 1,383,025 shares of the industrial products company’s stock worth $55,100,000 after purchasing an additional 783,736 shares during the period. Institutional investors and hedge funds own 93.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TTEK. Maxim Group cut shares of Tetra Tech from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Royal Bank of Canada set a $49.00 target price on Tetra Tech in a research report on Friday, January 31st. Finally, KeyCorp decreased their price target on Tetra Tech from $49.00 to $45.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $47.92.

Tetra Tech Stock Performance

NASDAQ:TTEK opened at $29.55 on Wednesday. Tetra Tech, Inc. has a 52 week low of $28.17 and a 52 week high of $51.20. The company has a fifty day simple moving average of $31.87 and a two-hundred day simple moving average of $40.00. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.53. The company has a market cap of $7.92 billion, a price-to-earnings ratio of 31.04 and a beta of 0.93.

Tetra Tech (NASDAQ:TTEK) last released its earnings results on Wednesday, January 29th. The industrial products company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.34 by $0.01. Tetra Tech had a return on equity of 22.58% and a net margin of 4.81%. As a group, equities analysts anticipate that Tetra Tech, Inc. will post 1.37 earnings per share for the current fiscal year.

Tetra Tech Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were paid a $0.058 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $0.23 dividend on an annualized basis and a yield of 0.79%. Tetra Tech’s dividend payout ratio is currently 24.21%.

Insiders Place Their Bets

In other news, Director Kirsten M. Volpi sold 10,116 shares of the firm’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $34.33, for a total value of $347,282.28. Following the sale, the director now directly owns 60,196 shares in the company, valued at approximately $2,066,528.68. This trade represents a 14.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.40% of the stock is currently owned by company 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.