Daiwa Securities Group Inc. Buys 46,300 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

Daiwa Securities Group Inc. boosted its position in Tetra Tech, Inc. (NASDAQ:TTEK) by 393.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 58,080 shares of the industrial products company’s stock after acquiring an additional 46,300 shares during the quarter. Daiwa Securities Group Inc. owned 0.11% of Tetra Tech worth $9,695,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Contravisory Investment Management Inc. bought a new stake in shares of Tetra Tech in the 4th quarter worth approximately $26,000. Meeder Asset Management Inc. lifted its position in Tetra Tech by 165.9% during the fourth quarter. Meeder Asset Management Inc. now owns 242 shares of the industrial products company’s stock valued at $35,000 after buying an additional 151 shares during the period. Millburn Ridgefield Corp purchased a new stake in shares of Tetra Tech during the third quarter worth about $37,000. 1832 Asset Management L.P. boosted its position in Tetra Tech by 88.7% in the first quarter. 1832 Asset Management L.P. now owns 268 shares of the industrial products company’s stock valued at $39,000 after buying an additional 126 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in Tetra Tech in the 2nd quarter worth approximately $39,000. Hedge funds and other institutional investors own 93.89% of the company’s stock.

Insider Activity at Tetra Tech

In other news, Director J Kenneth Thompson sold 3,500 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $177.24, for a total transaction of $620,340.00. Following the completion of the transaction, the director now owns 10,985 shares of the company’s stock, valued at approximately $1,946,981.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director J Kenneth Thompson sold 3,500 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $177.24, for a total value of $620,340.00. Following the transaction, the director now directly owns 10,985 shares of the company’s stock, valued at $1,946,981.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Steven M. Burdick sold 7,128 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $165.01, for a total value of $1,176,191.28. Following the transaction, the chief financial officer now owns 37,405 shares of the company’s stock, valued at $6,172,199.05. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,123 shares of company stock worth $5,487,673. 0.61% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

TTEK has been the topic of a number of research analyst reports. KeyCorp started coverage on Tetra Tech in a research report on Wednesday, January 10th. They set an “overweight” rating and a $191.00 target price on the stock. Royal Bank of Canada raised their price objective on shares of Tetra Tech from $192.00 to $203.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $197.25.

Tetra Tech Price Performance

Shares of NASDAQ:TTEK opened at $186.83 on Friday. Tetra Tech, Inc. has a one year low of $132.29 and a one year high of $194.99. The stock has a market cap of $10.00 billion, a PE ratio of 43.25 and a beta of 0.96. The business’s fifty day moving average price is $183.29 and its two-hundred day moving average price is $168.95. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.25 and a current ratio of 1.25.

Tetra Tech (NASDAQ:TTEK) last posted its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.05. The firm had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $974.00 million. Tetra Tech had a return on equity of 21.05% and a net margin of 4.77%. During the same quarter last year, the business posted $1.34 EPS. On average, analysts forecast that Tetra Tech, Inc. will post 6.07 EPS for the current fiscal year.

Tetra Tech Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 27th. Stockholders of record on Wednesday, February 14th were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date was Tuesday, February 13th. Tetra Tech’s dividend payout ratio is currently 24.07%.

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.