Smith Group Asset Management LLC bought a new position in Tetra Tech, Inc. (NASDAQ:TTEK – Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 20,095 shares of the industrial products company’s stock, valued at approximately $948,000.
Several other hedge funds and other institutional investors have also modified their holdings of TTEK. CWM LLC lifted its holdings in Tetra Tech by 20.2% during the 2nd quarter. CWM LLC now owns 304 shares of the industrial products company’s stock valued at $62,000 after purchasing an additional 51 shares during the last quarter. ELCO Management Co. LLC raised its stake in shares of Tetra Tech by 4.8% in the second quarter. ELCO Management Co. LLC now owns 1,313 shares of the industrial products company’s stock valued at $268,000 after acquiring an additional 60 shares during the last quarter. CIBC Asset Management Inc raised its stake in shares of Tetra Tech by 4.8% in the second quarter. CIBC Asset Management Inc now owns 1,524 shares of the industrial products company’s stock valued at $312,000 after acquiring an additional 70 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of Tetra Tech by 3.1% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 2,468 shares of the industrial products company’s stock worth $456,000 after acquiring an additional 75 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in Tetra Tech by 4.0% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,021 shares of the industrial products company’s stock worth $413,000 after acquiring an additional 77 shares during the last quarter. Institutional investors own 93.89% of the company’s stock.
Insider Buying and Selling
In other Tetra Tech news, CFO Steven M. Burdick sold 36,830 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $46.57, for a total value of $1,715,173.10. Following the transaction, the chief financial officer now directly owns 112,620 shares of the company’s stock, valued at approximately $5,244,713.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Steven M. Burdick sold 36,830 shares of the company’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $46.57, for a total value of $1,715,173.10. Following the completion of the sale, the chief financial officer now owns 112,620 shares in the company, valued at approximately $5,244,713.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Dan L. Batrack sold 89,620 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $45.54, for a total value of $4,081,653.28. Following the completion of the transaction, the chief executive officer now directly owns 124,380 shares in the company, valued at $5,664,762.72. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 236,370 shares of company stock valued at $10,880,243 over the last ninety days. Insiders own 0.61% of the company’s stock.
Tetra Tech Trading Down 1.0 %
Tetra Tech (NASDAQ:TTEK – Get Free Report) last released its earnings results on Wednesday, July 31st. The industrial products company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.08 billion. Tetra Tech had a net margin of 5.72% and a return on equity of 21.50%. The company’s revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.26 EPS. As a group, research analysts predict that Tetra Tech, Inc. will post 1.25 earnings per share for the current year.
Analysts Set New Price Targets
Several equities analysts have issued reports on TTEK shares. StockNews.com upgraded Tetra Tech from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. KeyCorp lifted their price target on Tetra Tech from $49.00 to $56.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Robert W. Baird upped their price target on shares of Tetra Tech from $44.60 to $46.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Finally, Royal Bank of Canada raised their price objective on shares of Tetra Tech from $46.60 to $51.80 and gave the company an “outperform” rating in a research report on Friday, August 2nd. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Tetra Tech currently has an average rating of “Moderate Buy” and a consensus target price of $50.48.
Check Out Our Latest Analysis on TTEK
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.
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