Tetra Tech, Inc. (NASDAQ:TTEK) Director Sells $86,040.00 in Stock

Key Points

• Tetra Tech, Inc. Director Gary Birkenbeuel sold 2,390 shares of the company's stock for a total of $86,040, reducing his position by 5.96% to a remaining 37,725 shares.
• The company announced a quarterly dividend of $0.065 per share, which will be paid on August 29th, representing an annualized yield of 0.7% and a payout ratio of 32.50%.
• Analysts have recently upgraded Tetra Tech's stock to a "buy" rating, with a consensus price target of $41.67 and reports indicating anticipated earnings growth for the current fiscal year.

Tetra Tech, Inc. (NASDAQ:TTEK - Get Free Report) Director Gary Birkenbeuel sold 2,390 shares of the company's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $36.00, for a total transaction of $86,040.00. Following the transaction, the director owned 37,725 shares in the company, valued at $1,358,100. This represents a 5.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Tetra Tech Stock Down 0.2%

Shares of NASDAQ:TTEK traded down $0.06 during midday trading on Friday, hitting $35.80. 2,527,926 shares of the company's stock were exchanged, compared to its average volume of 2,446,417. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.18 and a quick ratio of 1.18. The stock has a 50 day moving average price of $36.57 and a 200-day moving average price of $33.34. The company has a market cap of $9.41 billion, a PE ratio of 44.75 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.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last posted its earnings results on Wednesday, July 30th. The industrial products company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.37 by $0.06. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.15 billion. Tetra Tech had a net margin of 3.94% and a return on equity of 24.70%. The firm's revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.59 earnings per share. On average, sell-side analysts anticipate that Tetra Tech, Inc. will post 1.37 EPS for the current fiscal year.

Tetra Tech Announces Dividend

The firm 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 dividend of $0.065 per share. 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%.

Institutional Investors Weigh In On Tetra Tech

Hedge funds and other institutional investors have recently made changes to their positions in the business. Chilton Capital Management LLC bought a new stake in shares of Tetra Tech during the first quarter worth about $25,000. Baillie Gifford & Co. bought a new stake in Tetra Tech in the 1st quarter worth about $27,000. MAI Capital Management grew its position in Tetra Tech by 68.1% in the 2nd quarter. MAI Capital Management now owns 849 shares of the industrial products company's stock worth $31,000 after purchasing an additional 344 shares in the last quarter. Central Pacific Bank Trust Division bought a new stake in Tetra Tech in the 2nd quarter worth about $32,000. Finally, Parkside Financial Bank & Trust grew its position in Tetra Tech by 54.5% in the 2nd quarter. Parkside Financial Bank & Trust now owns 987 shares of the industrial products company's stock worth $35,000 after purchasing an additional 348 shares in the last quarter. 93.89% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on TTEK. Wall Street Zen upgraded shares of Tetra Tech from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Robert W. Baird upped their price objective 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, KeyCorp upped their price objective 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. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.