Tetra Tech, Inc. (NASDAQ:TTEK) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $161.79 and last traded at $160.85, with a volume of 199 shares changing hands. The stock had previously closed at $159.80.
Separately, Zacks Investment Research lowered shares of Tetra Tech from a “buy” rating to a “hold” rating and set a $149.00 target price for the company. in a research report on Friday, August 13th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $142.80.
The firm has a market capitalization of $8.68 billion, a P/E ratio of 44.89, a price-to-earnings-growth ratio of 2.64 and a beta of 0.82. The stock’s 50-day simple moving average is $145.81 and its two-hundred day simple moving average is $133.19. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.36 and a quick ratio of 1.36.
The business also recently announced a quarterly dividend, which was paid on Friday, September 3rd. Stockholders of record on Friday, August 20th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend was Thursday, August 19th. Tetra Tech’s dividend payout ratio (DPR) is presently 24.54%.
Tetra Tech declared that its board has approved a stock repurchase program on Thursday, October 7th that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the industrial products company to buy up to 4.7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.
In other Tetra Tech news, SVP Bernard Teufele sold 860 shares of the business’s stock in a transaction on Wednesday, August 11th. The shares were sold at an average price of $138.42, for a total transaction of $119,041.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director J Kenneth Thompson sold 4,200 shares of the business’s stock in a transaction on Friday, September 3rd. The shares were sold at an average price of $152.03, for a total transaction of $638,526.00. The disclosure for this sale can be found here. Insiders sold 16,066 shares of company stock worth $2,395,443 in the last three months. Insiders own 1.65% of the company’s stock.
A number of hedge funds have recently bought and sold shares of TTEK. Acadian Asset Management LLC bought a new position in Tetra Tech during the first quarter valued at $27,000. BDO Wealth Advisors LLC bought a new position in shares of Tetra Tech in the first quarter worth about $29,000. Sound Income Strategies LLC bought a new position in shares of Tetra Tech in the second quarter worth about $35,000. KB Financial Partners LLC bought a new position in shares of Tetra Tech in the first quarter worth about $37,000. Finally, Maverick Capital Ltd. bought a new position in shares of Tetra Tech in the second quarter worth about $62,000. Institutional investors and hedge funds own 83.25% of the company’s stock.
Tetra Tech Company Profile (NASDAQ:TTEK)
Tetra Tech, Inc engages in the provision of consulting and engineering services. It operates through the following segments: Government Services Group (GSG); Commercial and International Services Group (CIG); and Remediation and Construction Management (RCM). The GSG segment offers consulting and engineering services primarily to United States government clients such as federal, state and local, and development agencies worldwide.
Featured Article: Stock Symbol
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.