Insider Selling: Tetra Tech, Inc. (NASDAQ:TTEK) EVP Sells 78,420 Shares of Stock

Tetra Tech, Inc. (NASDAQ:TTEK) EVP Leslie L. Shoemaker sold 78,420 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $46.11, for a total transaction of $3,615,946.20. Following the sale, the executive vice president now owns 296,015 shares in the company, valued at approximately $13,649,251.65. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Tetra Tech Stock Performance

NASDAQ:TTEK traded down $0.63 during mid-day trading on Thursday, reaching $46.06. The company’s stock had a trading volume of 1,166,156 shares, compared to its average volume of 1,370,449. Tetra Tech, Inc. has a 12-month low of $28.67 and a 12-month high of $48.26. The firm’s fifty day moving average price is $44.13 and its two-hundred day moving average price is $41.09. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.52. The stock has a market cap of $2.46 billion, a P/E ratio of 9.32 and a beta of 0.95.

Tetra Tech (NASDAQ:TTEK) last issued its earnings results on Wednesday, July 31st. The industrial products company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. Tetra Tech had a return on equity of 21.50% and a net margin of 5.72%. The business had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the previous year, the firm earned $0.26 EPS. Tetra Tech’s revenue was up 10.7% on a year-over-year basis. On average, equities analysts forecast that Tetra Tech, Inc. will post 6.24 EPS for the current fiscal year.

Tetra Tech Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Thursday, August 15th were given a dividend of $0.058 per share. This represents a $0.23 annualized dividend and a dividend yield of 0.50%. The ex-dividend date was Thursday, August 15th. Tetra Tech’s payout ratio is currently 4.66%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on TTEK shares. Royal Bank of Canada boosted their target price on shares of Tetra Tech from $46.60 to $51.80 and gave the company an “outperform” rating in a report on Friday, August 2nd. KeyCorp upped their price target on shares of Tetra Tech from $46.80 to $49.40 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Robert W. Baird upped their price target on shares of Tetra Tech from $44.60 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. StockNews.com upgraded shares of Tetra Tech from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. Finally, Maxim Group upped their price target on shares of Tetra Tech from $46.80 to $53.60 and gave the stock a “buy” rating in a research note on Thursday, May 16th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Tetra Tech currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.16.

Institutional Investors Weigh In On Tetra Tech

Hedge funds and other institutional investors have recently made changes to their positions in the business. Natixis Advisors L.P. purchased a new stake in shares of Tetra Tech during the 4th quarter valued at about $1,821,000. Nwam LLC purchased a new stake in Tetra Tech in the 1st quarter worth approximately $1,123,000. Sarasin & Partners LLP increased its holdings 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 worth $231,623,000 after acquiring an additional 32,053 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in Tetra Tech by 88.6% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 12,384 shares of the industrial products company’s stock worth $2,288,000 after acquiring an additional 5,819 shares in the last quarter. Finally, Van ECK Associates Corp increased its holdings in Tetra Tech by 26.5% in the 1st quarter. Van ECK Associates Corp now owns 39,564 shares of the industrial products company’s stock worth $7,307,000 after acquiring an additional 8,289 shares in the last quarter. Hedge funds and other institutional investors own 93.89% of the company’s stock.

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.