UBS Asset Management Americas Inc. raised its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 10.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 80,861 shares of the industrial products company’s stock after purchasing an additional 7,361 shares during the period. UBS Asset Management Americas Inc. owned 0.14% of Tetra Tech worth $3,893,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the company. Crossmark Global Holdings Inc. purchased a new stake in shares of Tetra Tech during the third quarter valued at $774,000. Principal Financial Group Inc. grew its holdings in shares of Tetra Tech by 14.2% during the third quarter. Principal Financial Group Inc. now owns 636,867 shares of the industrial products company’s stock valued at $29,646,000 after buying an additional 79,198 shares during the last quarter. BNP Paribas Arbitrage SA grew its holdings in shares of Tetra Tech by 33.6% during the third quarter. BNP Paribas Arbitrage SA now owns 35,473 shares of the industrial products company’s stock valued at $1,651,000 after buying an additional 8,924 shares during the last quarter. Municipal Employees Retirement System of Michigan grew its holdings in shares of Tetra Tech by 36.9% during the third quarter. Municipal Employees Retirement System of Michigan now owns 29,410 shares of the industrial products company’s stock valued at $1,369,000 after buying an additional 7,920 shares during the last quarter. Finally, Advisor Group Inc. grew its holdings in shares of Tetra Tech by 42.3% during the third quarter. Advisor Group Inc. now owns 4,666 shares of the industrial products company’s stock valued at $217,000 after buying an additional 1,387 shares during the last quarter. 87.25% of the stock is currently owned by institutional investors and hedge funds.
In other Tetra Tech news, SVP William R. Brownlie sold 12,713 shares of the company’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $50.36, for a total value of $640,226.68. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP William R. Brownlie sold 4,037 shares of the company’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $46.16, for a total transaction of $186,347.92. Following the completion of the sale, the senior vice president now directly owns 82,226 shares in the company, valued at $3,795,552.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 62,561 shares of company stock worth $3,101,982. 3.40% of the stock is owned by corporate insiders.
Tetra Tech (NASDAQ:TTEK) last posted its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.53 by $0.12. Tetra Tech had a net margin of 4.83% and a return on equity of 14.26%. The company had revenue of $544.85 million for the quarter, compared to analyst estimates of $510.22 million. During the same period in the prior year, the company earned $0.49 earnings per share. The firm’s revenue was up 11.3% on a year-over-year basis. equities research analysts anticipate that Tetra Tech, Inc. will post 2.51 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 2nd. Shareholders of record on Wednesday, February 14th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.77%. The ex-dividend date was Tuesday, February 13th. Tetra Tech’s payout ratio is 16.74%.
TTEK has been the topic of a number of research analyst reports. BidaskClub lowered shares of Tetra Tech from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 9th. ValuEngine raised shares of Tetra Tech from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Zacks Investment Research raised shares of Tetra Tech from a “hold” rating to a “buy” rating and set a $59.00 price objective on the stock in a report on Friday, February 2nd. Finally, Canaccord Genuity reissued a “buy” rating and set a $60.00 price objective on shares of Tetra Tech in a report on Thursday, February 1st. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $54.57.
COPYRIGHT VIOLATION WARNING: “Tetra Tech, Inc. (TTEK) Stake Boosted by UBS Asset Management Americas Inc.” was reported by American Banking News and is the sole property of of American Banking News. If you are viewing this story on another site, it was copied illegally and reposted in violation of U.S. and international trademark & copyright laws. The legal version of this story can be read at https://www.americanbankingnews.com/2018/03/14/tetra-tech-inc-ttek-stake-boosted-by-ubs-asset-management-americas-inc.html.
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.
Receive News & Ratings for Tetra Tech Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tetra Tech and related companies with MarketBeat.com's FREE daily email newsletter.