Koch Industries Inc. Takes Position in Tetra Tech, Inc. (TTEK)
Koch Industries Inc. bought a new stake in Tetra Tech, Inc. (NASDAQ:TTEK) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 517,475 shares of the industrial products company’s stock, valued at approximately $506,000. Koch Industries Inc. owned approximately 0.92% of Tetra Tech as of its most recent filing with the SEC.
Several other hedge funds have also modified their holdings of TTEK. BlackRock Inc. boosted its holdings in shares of Tetra Tech by 12,066.6% in the 1st quarter. BlackRock Inc. now owns 8,135,829 shares of the industrial products company’s stock valued at $332,349,000 after purchasing an additional 8,068,959 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Tetra Tech by 6.2% in the 1st quarter. Vanguard Group Inc. now owns 5,212,870 shares of the industrial products company’s stock valued at $212,946,000 after purchasing an additional 302,821 shares in the last quarter. Premier Asset Management LLC acquired a new stake in shares of Tetra Tech in the 2nd quarter valued at $7,249,000. PDT Partners LLC acquired a new stake in shares of Tetra Tech in the 2nd quarter valued at $6,519,000. Finally, Janus Henderson Group PLC boosted its holdings in shares of Tetra Tech by 270.8% in the 2nd quarter. Janus Henderson Group PLC now owns 193,166 shares of the industrial products company’s stock valued at $8,833,000 after purchasing an additional 141,066 shares in the last quarter. 84.77% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have weighed in on TTEK. Zacks Investment Research downgraded Tetra Tech from a “buy” rating to a “hold” rating in a report on Monday, July 10th. BidaskClub downgraded Tetra Tech from a “buy” rating to a “hold” rating in a report on Saturday, August 5th. Roth Capital set a $52.00 target price on Tetra Tech and gave the company a “buy” rating in a report on Wednesday, August 2nd. Boenning Scattergood reaffirmed an “outperform” rating on shares of Tetra Tech in a report on Tuesday, September 5th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $47.00 price target on shares of Tetra Tech in a research note on Thursday, September 7th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Tetra Tech presently has a consensus rating of “Hold” and an average price target of $48.86.
Shares of Tetra Tech, Inc. (NASDAQ:TTEK) traded down 0.31% on Friday, hitting $47.75. The stock had a trading volume of 230,508 shares. The firm has a 50-day moving average of $44.81 and a 200 day moving average of $44.42. Tetra Tech, Inc. has a 1-year low of $36.45 and a 1-year high of $48.80. The company has a market capitalization of $2.70 billion, a PE ratio of 24.20 and a beta of 1.07.
Tetra Tech (NASDAQ:TTEK) last announced its earnings results on Wednesday, August 2nd. The industrial products company reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.01). Tetra Tech had a return on equity of 13.65% and a net margin of 4.17%. The company had revenue of $498.47 million during the quarter, compared to analysts’ expectations of $535.18 million. During the same quarter last year, the firm posted $0.50 earnings per share. The firm’s revenue was up .0% on a year-over-year basis. On average, equities analysts anticipate that Tetra Tech, Inc. will post $2.11 earnings per share for the current fiscal year.
Tetra Tech Company Profile
Tetra Tech, Inc is a provider of consulting, engineering, program management, construction management, and technical services. The Company’s segments include Water, Environment and Infrastructure (WEI), Resource Management and Energy (RME), and Remediation and Construction Management (RCM). The WEI segment provides consulting and engineering services.
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