Sumitomo Mitsui DS Asset Management Company Ltd Sells 11,655 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

Sumitomo Mitsui DS Asset Management Company Ltd decreased its holdings in Tetra Tech, Inc. (NASDAQ:TTEK) by 6.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 178,068 shares of the industrial products company’s stock after selling 11,655 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Tetra Tech were worth $7,094,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. New England Research & Management Inc. bought a new position in Tetra Tech in the 4th quarter worth approximately $596,000. Harbor Capital Advisors Inc. lifted its holdings in shares of Tetra Tech by 630.8% in the third quarter. Harbor Capital Advisors Inc. now owns 36,430 shares of the industrial products company’s stock worth $1,718,000 after buying an additional 31,445 shares in the last quarter. Arkadios Wealth Advisors boosted its position in shares of Tetra Tech by 615.8% during the third quarter. Arkadios Wealth Advisors now owns 22,310 shares of the industrial products company’s stock worth $1,052,000 after acquiring an additional 19,193 shares during the last quarter. SFE Investment Counsel grew its stake in Tetra Tech by 374.8% during the third quarter. SFE Investment Counsel now owns 36,330 shares of the industrial products company’s stock valued at $1,713,000 after acquiring an additional 28,679 shares in the last quarter. Finally, Perpetual Ltd increased its holdings in Tetra Tech by 9.6% in the 4th quarter. Perpetual Ltd now owns 215,042 shares of the industrial products company’s stock valued at $8,567,000 after acquiring an additional 18,842 shares during the last quarter. Hedge funds and other institutional investors own 93.89% of the company’s stock.

Tetra Tech Trading Down 1.1 %

Shares of TTEK opened at $33.40 on Friday. The company’s fifty day simple moving average is $40.16 and its 200-day simple moving average is $44.02. The company has a market cap of $8.95 billion, a P/E ratio of 35.08 and a beta of 0.89. The company has a current ratio of 1.29, a quick ratio of 1.25 and a debt-to-equity ratio of 0.53. Tetra Tech, Inc. has a twelve month low of $31.09 and a twelve month high of $51.20.

Tetra Tech (NASDAQ:TTEK) last posted its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. Tetra Tech had a net margin of 4.81% and a return on equity of 22.58%. As a group, analysts expect that Tetra Tech, Inc. will post 1.37 EPS for the current year.

Tetra Tech Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th will be issued a dividend of $0.058 per share. This represents a $0.23 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend is Wednesday, February 12th. Tetra Tech’s payout ratio is currently 24.16%.

Insider Buying and Selling at Tetra Tech

In related news, Director Kirsten M. Volpi sold 10,116 shares of Tetra Tech stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $34.33, for a total transaction of $347,282.28. Following the completion of the sale, the director now owns 60,196 shares in the company, valued at $2,066,528.68. This trade represents a 14.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on TTEK. StockNews.com lowered Tetra Tech from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Royal Bank of Canada restated an “outperform” rating and set a $52.00 price target on shares of Tetra Tech in a report on Friday, November 15th. KeyCorp decreased their price objective on Tetra Tech from $49.00 to $45.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Robert W. Baird raised their target price on shares of Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Finally, Maxim Group downgraded shares of Tetra Tech from a “buy” rating to a “hold” rating in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Tetra Tech has an average rating of “Moderate Buy” and an average price target of $48.52.

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.