Russell Investments Group Ltd. Lowers Stock Position in Tetra Tech, Inc. (NASDAQ:TTEK)

Russell Investments Group Ltd. cut its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 5.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 70,522 shares of the industrial products company’s stock after selling 3,699 shares during the quarter. Russell Investments Group Ltd. owned 0.13% of Tetra Tech worth $11,772,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Stifel Financial Corp grew its position in Tetra Tech by 10.7% in the third quarter. Stifel Financial Corp now owns 26,817 shares of the industrial products company’s stock worth $4,077,000 after acquiring an additional 2,593 shares in the last quarter. WCM Investment Management LLC boosted its holdings in shares of Tetra Tech by 2.5% in the 4th quarter. WCM Investment Management LLC now owns 339,938 shares of the industrial products company’s stock worth $57,127,000 after purchasing an additional 8,394 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its position in shares of Tetra Tech by 95.7% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 17,977 shares of the industrial products company’s stock valued at $2,733,000 after purchasing an additional 8,791 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc purchased a new position in shares of Tetra Tech during the 4th quarter valued at about $82,209,000. Finally, Sequoia Financial Advisors LLC bought a new stake in Tetra Tech in the 4th quarter worth approximately $873,000. Institutional investors own 93.89% of the company’s stock.

Insider Transactions at Tetra Tech

In related news, CFO Steven M. Burdick sold 7,515 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $175.67, for a total value of $1,320,160.05. Following the completion of the transaction, the chief financial officer now directly owns 29,890 shares of the company’s stock, valued at $5,250,776.30. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO Steven M. Burdick sold 7,128 shares of the business’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $165.01, for a total transaction of $1,176,191.28. Following the sale, the chief financial officer now owns 37,405 shares in the company, valued at approximately $6,172,199.05. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Steven M. Burdick sold 7,515 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $175.67, for a total transaction of $1,320,160.05. Following the completion of the transaction, the chief financial officer now owns 29,890 shares of the company’s stock, valued at $5,250,776.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,123 shares of company stock valued at $5,487,673. Company insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. KeyCorp lifted their price target on shares of Tetra Tech from $209.00 to $219.00 and gave the stock an “overweight” rating in a research note on Friday. Maxim Group boosted their price target on shares of Tetra Tech from $220.00 to $230.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. StockNews.com raised Tetra Tech from a “hold” rating to a “buy” rating in a research note on Friday. Northcoast Research upgraded Tetra Tech from a “neutral” rating to a “buy” rating and set a $225.00 target price for the company in a report on Thursday. Finally, Royal Bank of Canada lifted their price target on Tetra Tech from $203.00 to $233.00 and gave the stock an “outperform” rating in a research note on Friday. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $221.40.

Tetra Tech Stock Up 1.7 %

NASDAQ TTEK opened at $207.75 on Friday. Tetra Tech, Inc. has a 1 year low of $132.29 and a 1 year high of $208.76. The stock has a market capitalization of $11.11 billion, a PE ratio of 42.05 and a beta of 0.93. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.24 and a quick ratio of 1.25. The business’s 50-day moving average is $186.65 and its 200 day moving average is $171.67.

Tetra Tech (NASDAQ:TTEK) last released its quarterly earnings data on Wednesday, May 1st. The industrial products company reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.13. Tetra Tech had a return on equity of 21.16% and a net margin of 5.36%. The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter last year, the business posted $1.17 EPS. The business’s revenue was down 9.5% on a year-over-year basis. Sell-side analysts forecast that Tetra Tech, Inc. will post 6.2 earnings per share for the current year.

Tetra Tech Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Monday, May 20th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Friday, May 17th. This is a positive change from Tetra Tech’s previous quarterly dividend of $0.26. This represents a $1.16 annualized dividend and a yield of 0.56%. Tetra Tech’s dividend payout ratio is 21.05%.

Tetra Tech 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.