Insider Selling: Tetra Tech, Inc. (NASDAQ:TTEK) Director Sells $302,120.00 in Stock

Tetra Tech, Inc. (NASDAQ:TTEK) Director Kimberly E. Ritrievi sold 6,500 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $46.48, for a total transaction of $302,120.00. Following the transaction, the director now owns 143,200 shares in the company, valued at approximately $6,655,936. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Tetra Tech Trading Up 0.4 %

Tetra Tech stock opened at $46.24 on Friday. The firm has a 50 day moving average of $44.35 and a 200 day moving average of $41.24. The firm has a market capitalization of $12.38 billion, a price-to-earnings ratio of 9.36 and a beta of 0.95. Tetra Tech, Inc. has a 12-month low of $28.67 and a 12-month high of $48.26. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.52.

Tetra Tech (NASDAQ:TTEK) last released its earnings results on Wednesday, July 31st. The industrial products company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.01. Tetra Tech had a net margin of 5.72% and a return on equity of 21.50%. The company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same period in the prior year, the firm posted $0.26 EPS. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. As a group, research analysts predict that Tetra Tech, Inc. will post 1.25 earnings per share for the current year.

Tetra Tech Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Thursday, August 15th were issued a dividend of $0.058 per share. This represents a $0.23 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date of this dividend was Thursday, August 15th. Tetra Tech’s dividend payout ratio (DPR) is currently 4.66%.

Institutional Investors Weigh In On Tetra Tech

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of Tetra Tech by 0.3% in the first quarter. Vanguard Group Inc. now owns 5,168,554 shares of the industrial products company’s stock valued at $954,684,000 after purchasing an additional 14,701 shares in the last quarter. Sarasin & Partners LLP grew its holdings in shares of Tetra Tech by 2.6% in the first quarter. Sarasin & Partners LLP now owns 1,253,981 shares of the industrial products company’s stock valued at $231,623,000 after purchasing an additional 32,053 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Tetra Tech by 27.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 677,130 shares of the industrial products company’s stock valued at $138,459,000 after purchasing an additional 144,706 shares in the last quarter. Ninety One UK Ltd purchased a new position in shares of Tetra Tech in the second quarter valued at $135,897,000. Finally, Norges Bank purchased a new position in shares of Tetra Tech in the fourth quarter valued at $96,655,000. 93.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on TTEK. Robert W. Baird upped their target price on shares of Tetra Tech from $44.60 to $46.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Royal Bank of Canada upped their target price on shares of Tetra Tech from $46.60 to $51.80 and gave the company an “outperform” rating in a research note on Friday, August 2nd. KeyCorp upped their target price on shares of Tetra Tech from $46.80 to $49.40 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, StockNews.com upgraded shares of Tetra Tech from a “hold” rating to a “buy” rating in a research note on Saturday. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $49.16.

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.