Sumitomo Life Insurance Co. Sells 109,327 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

Sumitomo Life Insurance Co. reduced its holdings in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 79.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 29,059 shares of the industrial products company's stock after selling 109,327 shares during the period. Sumitomo Life Insurance Co.'s holdings in Tetra Tech were worth $850,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of TTEK. Farther Finance Advisors LLC raised its holdings in Tetra Tech by 13.0% in the fourth quarter. Farther Finance Advisors LLC now owns 4,009 shares of the industrial products company's stock worth $160,000 after purchasing an additional 461 shares during the period. Fifth Third Bancorp raised its holdings in Tetra Tech by 9.7% in the first quarter. Fifth Third Bancorp now owns 5,351 shares of the industrial products company's stock worth $157,000 after purchasing an additional 475 shares during the period. Jones Financial Companies Lllp raised its holdings in Tetra Tech by 98.0% in the fourth quarter. Jones Financial Companies Lllp now owns 1,000 shares of the industrial products company's stock worth $40,000 after purchasing an additional 495 shares during the period. TT International Asset Management LTD raised its holdings in Tetra Tech by 3.1% in the first quarter. TT International Asset Management LTD now owns 16,993 shares of the industrial products company's stock worth $497,000 after purchasing an additional 515 shares during the period. Finally, Xponance Inc. increased its position in shares of Tetra Tech by 1.6% during the first quarter. Xponance Inc. now owns 43,677 shares of the industrial products company's stock worth $1,278,000 after acquiring an additional 674 shares in the last quarter. 93.89% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TTEK has been the subject of several research reports. KeyCorp increased their price objective on shares of Tetra Tech from $34.00 to $41.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Maxim Group downgraded shares of Tetra Tech from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. Finally, Robert W. Baird increased their price objective on shares of Tetra Tech from $31.00 to $33.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Tetra Tech currently has a consensus rating of "Hold" and a consensus target price of $41.00.

Tetra Tech Stock Up 1.0%

Tetra Tech stock traded up $0.36 during mid-day trading on Wednesday, reaching $37.02. The company's stock had a trading volume of 676,940 shares, compared to its average volume of 2,137,310. The company has a market capitalization of $9.75 billion, a price-to-earnings ratio of 53.80 and a beta of 0.94. Tetra Tech, Inc. has a 12 month low of $27.27 and a 12 month high of $51.20. The business's 50 day simple moving average is $35.57 and its 200 day simple moving average is $33.81. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.10 and a current ratio of 1.10.

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

Tetra Tech Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Friday, May 23rd were given a $0.065 dividend. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $0.26 dividend on an annualized basis and a yield of 0.70%. This is an increase from Tetra Tech's previous quarterly dividend of $0.06. Tetra Tech's dividend payout ratio (DPR) is 37.68%.

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.