Penobscot Investment Management Company Inc. Lowers Holdings in Tetra Tech, Inc. (NASDAQ:TTEK)

Penobscot Investment Management Company Inc. reduced its position in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 0.2% during the 4th quarter, HoldingsChannel reports. The firm owned 150,000 shares of the industrial products company’s stock after selling 355 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Tetra Tech were worth $5,976,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Millburn Ridgefield Corp increased its holdings in Tetra Tech by 346.9% during the third quarter. Millburn Ridgefield Corp now owns 800 shares of the industrial products company’s stock valued at $37,000 after buying an additional 621 shares during the period. R Squared Ltd purchased a new position in shares of Tetra Tech in the 4th quarter valued at $39,000. Asset Planning Inc bought a new position in shares of Tetra Tech in the 4th quarter worth $40,000. Jones Financial Companies Lllp lifted its stake in shares of Tetra Tech by 98.0% during the 4th quarter. Jones Financial Companies Lllp now owns 1,000 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 495 shares during the last quarter. Finally, Brown Brothers Harriman & Co. boosted its position in Tetra Tech by 400.0% during the third quarter. Brown Brothers Harriman & Co. now owns 1,080 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 864 shares in the last quarter. 93.89% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Maxim Group cut shares of Tetra Tech from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Royal Bank of Canada set a $49.00 target price on shares of Tetra Tech in a research report on Friday, January 31st. Finally, KeyCorp cut their price target on shares of Tetra Tech from $49.00 to $45.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $47.92.

Insider Activity at Tetra Tech

In other news, Director Kirsten M. Volpi sold 10,116 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $34.33, for a total value of $347,282.28. Following the sale, the director now directly owns 60,196 shares of the company’s stock, valued at $2,066,528.68. This represents a 14.39 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.40% of the stock is owned by insiders.

Tetra Tech Stock Up 0.2 %

NASDAQ:TTEK opened at $29.44 on Wednesday. The company’s 50 day moving average is $33.16 and its two-hundred day moving average is $40.68. The company has a market cap of $7.89 billion, a PE ratio of 30.92 and a beta of 0.93. Tetra Tech, Inc. has a twelve month low of $28.17 and a twelve month high of $51.20. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.53.

Tetra Tech (NASDAQ:TTEK) last released its earnings results on Wednesday, January 29th. The industrial products company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.01. Tetra Tech had a return on equity of 22.58% and a net margin of 4.81%. Analysts anticipate that Tetra Tech, Inc. will post 1.37 EPS for the current year.

Tetra Tech Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were issued a dividend of $0.058 per share. This represents a $0.23 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date was Wednesday, February 12th. Tetra Tech’s dividend payout ratio (DPR) is 24.21%.

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.