Tetra Tech, Inc. (NASDAQ:TTEK) Holdings Reduced by Vestcor Inc

Key Points

• Vestcor Inc has significantly reduced its stake in Tetra Tech, Inc. by 83.5% in the first quarter, leaving it with a holding valued at $87,000.
• Institutional investors own 93.89% of Tetra Tech's stock, with several firms, including MassMutual Private Wealth & Trust, making substantial new investments in the first quarter.
• Tetra Tech is experiencing positive analyst sentiment, with a consensus rating of "Moderate Buy" and a target price increase from $41.00 to $43.00 by KeyCorp.

Vestcor Inc reduced its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 83.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 2,972 shares of the industrial products company's stock after selling 15,000 shares during the period. Vestcor Inc's holdings in Tetra Tech were worth $87,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of TTEK. Praxis Investment Management Inc. acquired a new stake in shares of Tetra Tech in the 1st quarter worth $348,000. Cambridge Investment Research Advisors Inc. lifted its position in Tetra Tech by 39.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 18,496 shares of the industrial products company's stock valued at $541,000 after purchasing an additional 5,275 shares during the period. SG Americas Securities LLC lifted its position in Tetra Tech by 259.3% in the first quarter. SG Americas Securities LLC now owns 46,406 shares of the industrial products company's stock valued at $1,357,000 after purchasing an additional 33,491 shares during the period. Summit Trail Advisors LLC purchased a new stake in Tetra Tech in the 1st quarter valued at approximately $590,000. Finally, Catalyst Capital Advisors LLC increased its position in Tetra Tech by 16.2% during the 1st quarter. Catalyst Capital Advisors LLC now owns 72,960 shares of the industrial products company's stock worth $2,134,000 after purchasing an additional 10,159 shares during the period. 93.89% of the stock is currently owned by institutional investors and hedge funds.

Tetra Tech Price Performance

Shares of NASDAQ TTEK traded down $0.37 on Friday, hitting $36.87. The company's stock had a trading volume of 1,692,439 shares, compared to its average volume of 1,926,350. The stock has a 50 day moving average of $36.43 and a 200-day moving average of $33.44. The company has a market capitalization of $9.69 billion, a price-to-earnings ratio of 46.09 and a beta of 0.92. Tetra Tech, Inc. has a 12-month low of $27.27 and a 12-month high of $51.20. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.18 and a quick ratio of 1.10.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last released its earnings results on Wednesday, July 30th. The industrial products company reported $0.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.37 by $0.06. Tetra Tech had a net margin of 3.94% and a return on equity of 24.70%. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period in the prior year, the firm earned $1.59 EPS. The firm's quarterly revenue was up 1.9% on a year-over-year basis. As a group, research analysts predict that Tetra Tech, Inc. will post 1.37 EPS for the current year.

Tetra Tech Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be given a $0.065 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $0.26 annualized dividend and a dividend yield of 0.7%. Tetra Tech's payout ratio is presently 32.50%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on TTEK shares. KeyCorp increased their price target on shares of Tetra Tech from $41.00 to $43.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Robert W. Baird increased their target price on shares of Tetra Tech from $31.00 to $33.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Finally, Wall Street Zen raised Tetra Tech from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, Tetra Tech has an average rating of "Moderate Buy" and a consensus price target of $41.67.

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.