Penobscot Investment Management Company Inc. Sells 18,895 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

Penobscot Investment Management Company Inc. lowered its stake in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 12.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 131,105 shares of the industrial products company's stock after selling 18,895 shares during the period. Penobscot Investment Management Company Inc.'s holdings in Tetra Tech were worth $3,835,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of TTEK. Brighton Jones LLC acquired a new stake in Tetra Tech during the 4th quarter valued at $225,000. Y Intercept Hong Kong Ltd raised its stake in Tetra Tech by 53.3% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 39,150 shares of the industrial products company's stock valued at $1,560,000 after purchasing an additional 13,606 shares during the period. Impax Asset Management Group plc raised its stake in Tetra Tech by 51.4% during the 4th quarter. Impax Asset Management Group plc now owns 23,754 shares of the industrial products company's stock valued at $946,000 after purchasing an additional 8,064 shares during the period. Amalgamated Bank raised its stake in Tetra Tech by 0.5% during the 4th quarter. Amalgamated Bank now owns 128,881 shares of the industrial products company's stock valued at $5,135,000 after purchasing an additional 579 shares during the period. Finally, Impact Investors Inc acquired a new stake in Tetra Tech during the 4th quarter valued at $265,000. Institutional investors own 93.89% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on TTEK. Maxim Group downgraded shares of Tetra Tech from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. KeyCorp boosted their target price on shares of Tetra Tech from $34.00 to $41.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Finally, Robert W. Baird boosted their target price on shares of Tetra Tech from $31.00 to $33.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Tetra Tech presently has an average rating of "Hold" and a consensus target price of $41.00.

Tetra Tech Stock Down 1.1%

Shares of NASDAQ TTEK traded down $0.41 during mid-day trading on Friday, reaching $35.64. The company had a trading volume of 2,886,095 shares, compared to its average volume of 2,134,497. Tetra Tech, Inc. has a twelve month low of $27.27 and a twelve month high of $51.20. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.10 and a current ratio of 1.10. The stock has a market capitalization of $9.39 billion, a PE ratio of 51.80 and a beta of 0.95. The stock's 50 day moving average is $34.27 and its 200-day moving average is $34.12.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates of $0.31 by $0.02. Tetra Tech had a net margin of 3.44% and a return on equity of 23.31%. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the prior year, the business posted $0.28 earnings per share. Tetra Tech's revenue for the quarter was up 25.9% compared to the same quarter last year. As a group, equities analysts anticipate that Tetra Tech, Inc. will post 1.37 earnings per share for the current fiscal year.

Tetra Tech Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Friday, May 23rd were issued a $0.065 dividend. The ex-dividend date was Friday, May 23rd. This is a boost from Tetra Tech's previous quarterly dividend of $0.06. This represents a $0.26 dividend on an annualized basis and a yield of 0.73%. Tetra Tech's dividend payout ratio is currently 37.68%.

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.