Tetra Tech, Inc. (TTEK) Stake Decreased by JPMorgan Chase & Co.
JPMorgan Chase & Co. decreased its holdings in Tetra Tech, Inc. (NASDAQ:TTEK) by 36.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 156,138 shares of the industrial products company’s stock after selling 88,475 shares during the period. JPMorgan Chase & Co. owned 0.28% of Tetra Tech worth $7,213,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Tetra Tech by 0.5% in the second quarter. Vanguard Group Inc. now owns 5,236,842 shares of the industrial products company’s stock worth $239,585,000 after acquiring an additional 23,972 shares during the period. State Street Corp boosted its stake in shares of Tetra Tech by 5.2% in the second quarter. State Street Corp now owns 1,502,537 shares of the industrial products company’s stock worth $68,741,000 after acquiring an additional 74,476 shares during the period. Northern Trust Corp boosted its stake in shares of Tetra Tech by 2.2% in the second quarter. Northern Trust Corp now owns 1,075,476 shares of the industrial products company’s stock worth $49,203,000 after acquiring an additional 23,510 shares during the period. Boston Partners boosted its stake in shares of Tetra Tech by 2.2% in the third quarter. Boston Partners now owns 1,033,492 shares of the industrial products company’s stock worth $48,109,000 after acquiring an additional 22,718 shares during the period. Finally, Alliancebernstein L.P. boosted its stake in shares of Tetra Tech by 16.0% in the second quarter. Alliancebernstein L.P. now owns 781,764 shares of the industrial products company’s stock worth $35,766,000 after acquiring an additional 107,602 shares during the period. 84.73% of the stock is owned by hedge funds and other institutional investors.
In other Tetra Tech news, CEO Dan L. Batrack sold 10,874 shares of the company’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $48.34, for a total transaction of $525,649.16. Following the sale, the chief executive officer now directly owns 286,551 shares in the company, valued at $13,851,875.34. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Ronald J. Chu sold 696 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $50.00, for a total value of $34,800.00. Following the sale, the insider now owns 37,800 shares in the company, valued at $1,890,000. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 232,019 shares of company stock worth $11,385,910. Company insiders own 4.00% of the company’s stock.
Tetra Tech, Inc. (NASDAQ:TTEK) opened at $48.35 on Thursday. Tetra Tech, Inc. has a one year low of $38.85 and a one year high of $50.90. The company has a market capitalization of $2,690.00, a P/E ratio of 23.70, a P/E/G ratio of 1.55 and a beta of 1.07. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.94 and a current ratio of 1.94.
Tetra Tech (NASDAQ:TTEK) last announced its quarterly earnings results on Wednesday, November 8th. The industrial products company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. Tetra Tech had a return on equity of 13.60% and a net margin of 4.28%. The company had revenue of $533.00 million during the quarter, compared to analyst estimates of $517.90 million. During the same period in the prior year, the company earned $0.59 earnings per share. The firm’s revenue was up .4% on a year-over-year basis. equities analysts anticipate that Tetra Tech, Inc. will post 2.32 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Thursday, November 30th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Wednesday, November 29th. This represents a $0.40 dividend on an annualized basis and a yield of 0.83%. Tetra Tech’s dividend payout ratio (DPR) is presently 19.61%.
A number of research firms have recently weighed in on TTEK. ValuEngine lowered Tetra Tech from a “buy” rating to a “hold” rating in a research note on Wednesday, December 20th. Zacks Investment Research raised Tetra Tech from a “sell” rating to a “hold” rating in a research note on Friday, October 6th. BidaskClub lowered Tetra Tech from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 9th. Robert W. Baird reissued a “hold” rating and set a $47.00 price target on shares of Tetra Tech in a research note on Tuesday, September 5th. Finally, Boenning Scattergood reissued a “buy” rating and set a $54.00 price target on shares of Tetra Tech in a research note on Thursday, November 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $52.29.
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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