Raymond James Financial Inc. purchased a new position in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 216,134 shares of the industrial products company's stock, valued at approximately $8,611,000. Raymond James Financial Inc. owned 0.08% of Tetra Tech at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in TTEK. Norges Bank acquired a new stake in shares of Tetra Tech in the 4th quarter worth approximately $121,390,000. King Luther Capital Management Corp lifted its stake in shares of Tetra Tech by 324.0% in the 4th quarter. King Luther Capital Management Corp now owns 1,278,295 shares of the industrial products company's stock worth $50,927,000 after acquiring an additional 976,810 shares during the period. Teacher Retirement System of Texas lifted its stake in shares of Tetra Tech by 130.8% in the 4th quarter. Teacher Retirement System of Texas now owns 1,383,025 shares of the industrial products company's stock worth $55,100,000 after acquiring an additional 783,736 shares during the period. Jennison Associates LLC acquired a new stake in shares of Tetra Tech in the 4th quarter worth approximately $22,653,000. Finally, Principal Financial Group Inc. lifted its stake in shares of Tetra Tech by 279.4% in the 3rd quarter. Principal Financial Group Inc. now owns 754,702 shares of the industrial products company's stock worth $35,592,000 after acquiring an additional 555,789 shares during the period. 93.89% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Tetra Tech
In related news, Director Kirsten M. Volpi sold 10,116 shares of the business's stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $34.33, for a total transaction of $347,282.28. Following the transaction, the director now directly owns 60,196 shares in the company, valued at $2,066,528.68. The trade was a 14.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.40% of the stock is currently owned by corporate insiders.
Tetra Tech Stock Down 0.0 %
NASDAQ TTEK traded down $0.01 during trading on Monday, hitting $31.20. 2,170,907 shares of the company traded hands, compared to its average volume of 2,005,886. Tetra Tech, Inc. has a 12 month low of $27.27 and a 12 month high of $51.20. The business has a fifty day simple moving average of $29.65 and a 200 day simple moving average of $37.37. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $8.36 billion, a P/E ratio of 32.77 and a beta of 0.89.
Tetra Tech (NASDAQ:TTEK - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.35 EPS for the quarter, topping analysts' consensus estimates 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, sell-side analysts predict that Tetra Tech, Inc. will post 1.37 EPS for the current year.
Analyst Ratings Changes
Several research firms have issued reports on TTEK. KeyCorp decreased their price target on shares of Tetra Tech from $45.00 to $34.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Maxim Group cut Tetra Tech from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. Finally, Royal Bank of Canada set a $49.00 target price on Tetra Tech in a research report on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $45.72.
Check Out Our Latest Stock Report on Tetra Tech
About Tetra Tech
(
Free Report)
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.
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