Tetra Tech, Inc. (NASDAQ:TTEK) Sees Large Increase in Short Interest

Tetra Tech, Inc. (NASDAQ:TTEK - Get Free Report) was the target of a large increase in short interest in April. As of April 15th, there was short interest totalling 1,060,000 shares, an increase of 24.4% from the March 31st total of 852,100 shares. Approximately 2.0% of the shares of the stock are sold short. Based on an average daily volume of 270,300 shares, the days-to-cover ratio is presently 3.9 days.

Insider Buying and Selling

In related news, SVP Brian N. Carter sold 5,580 shares of the business's stock in a transaction on Friday, February 9th. The stock was sold at an average price of $176.52, for a total transaction of $984,981.60. Following the sale, the senior vice president now owns 8,360 shares in the company, valued at approximately $1,475,707.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Brian N. Carter sold 5,580 shares of the firm's stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $176.52, for a total value of $984,981.60. Following the completion of the transaction, the senior vice president now owns 8,360 shares in the company, valued at approximately $1,475,707.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Steven M. Burdick sold 7,515 shares of the business's stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $175.67, for a total transaction of $1,320,160.05. Following the sale, the chief financial officer now directly owns 29,890 shares in the company, valued at $5,250,776.30. The disclosure for this sale can be found here. Insiders sold a total of 32,123 shares of company stock worth $5,487,673 in the last three months. 0.61% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tetra Tech

Institutional investors and hedge funds have recently made changes to their positions in the stock. Sarasin & Partners LLP increased its position in Tetra Tech by 2.6% in the 1st quarter. Sarasin & Partners LLP now owns 1,253,981 shares of the industrial products company's stock valued at $231,623,000 after buying an additional 32,053 shares in the last quarter. Invesco Ltd. grew its position in Tetra Tech by 6.2% in the 3rd quarter. Invesco Ltd. now owns 879,638 shares of the industrial products company's stock valued at $133,731,000 after purchasing an additional 51,139 shares during the period. Norges Bank acquired a new stake in Tetra Tech in the 4th quarter valued at $96,655,000. Vontobel Holding Ltd. increased its stake in Tetra Tech by 2.8% during the 4th quarter. Vontobel Holding Ltd. now owns 533,587 shares of the industrial products company's stock valued at $89,072,000 after purchasing an additional 14,334 shares in the last quarter. Finally, First Trust Advisors LP lifted its stake in shares of Tetra Tech by 8.8% in the fourth quarter. First Trust Advisors LP now owns 515,711 shares of the industrial products company's stock valued at $86,088,000 after buying an additional 41,860 shares in the last quarter. Institutional investors own 93.89% of the company's stock.

Analysts Set New Price Targets

TTEK has been the topic of a number of analyst reports. Royal Bank of Canada upped their price target on Tetra Tech from $192.00 to $203.00 and gave the company an "outperform" rating in a research report on Friday, February 2nd. KeyCorp started coverage on shares of Tetra Tech in a research report on Wednesday, January 10th. They set an "overweight" rating and a $191.00 target price for the company. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $197.25.

Tetra Tech Trading Down 0.2 %

Tetra Tech stock traded down $0.42 during trading hours on Friday, reaching $192.50. 225,075 shares of the company's stock were exchanged, compared to its average volume of 278,047. The firm has a market capitalization of $10.30 billion, a PE ratio of 44.56 and a beta of 0.96. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.61. The firm's 50 day simple moving average is $184.55 and its 200 day simple moving average is $170.44. Tetra Tech has a twelve month low of $132.29 and a twelve month high of $194.99.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last issued its earnings results on Wednesday, January 31st. The industrial products company reported $1.40 earnings per share for the quarter, topping analysts' consensus estimates of $1.35 by $0.05. The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $974.00 million. Tetra Tech had a return on equity of 21.05% and a net margin of 4.77%. During the same period in the previous year, the company posted $1.34 earnings per share. Research analysts predict that Tetra Tech will post 6.07 earnings per share for the current year.

Tetra Tech Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 27th. Shareholders of record on Wednesday, February 14th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend was Tuesday, February 13th. Tetra Tech's dividend payout ratio (DPR) is currently 24.07%.

About Tetra Tech

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.