Sonen Capital LLC Decreases Stock Position in Tetra Tech, Inc. (NASDAQ:TTEK)

Sonen Capital LLC trimmed its position in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 16.5% in the 4th quarter, Holdings Channel reports. The firm owned 2,186 shares of the industrial products company’s stock after selling 433 shares during the period. Sonen Capital LLC’s holdings in Tetra Tech were worth $365,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Sarasin & Partners LLP grew its holdings in shares of Tetra Tech by 18.3% during the fourth quarter. Sarasin & Partners LLP now owns 1,221,928 shares of the industrial products company’s stock worth $203,976,000 after buying an additional 189,049 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Tetra Tech by 6.2% in the third quarter. Invesco Ltd. now owns 879,638 shares of the industrial products company’s stock worth $133,731,000 after buying an additional 51,139 shares in the last quarter. Vontobel Holding Ltd. grew its stake in Tetra Tech by 2.8% during the 4th quarter. Vontobel Holding Ltd. now owns 533,587 shares of the industrial products company’s stock valued at $89,072,000 after acquiring an additional 14,334 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc acquired a new stake in Tetra Tech in the 4th quarter valued at about $82,209,000. Finally, abrdn plc lifted its stake in Tetra Tech by 1.3% in the 4th quarter. abrdn plc now owns 475,320 shares of the industrial products company’s stock worth $79,345,000 after purchasing an additional 5,962 shares in the last quarter. 93.89% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Tetra Tech

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

Tetra Tech Stock Performance

NASDAQ:TTEK opened at $192.50 on Friday. The company’s 50-day moving average is $184.55 and its two-hundred day moving average is $170.44. Tetra Tech, Inc. has a 1-year low of $132.29 and a 1-year high of $194.99. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.25 and a quick ratio of 1.25. The firm has a market capitalization of $10.30 billion, a price-to-earnings ratio of 44.56 and a beta of 0.96.

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

Tetra Tech Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 27th. Investors of record on Wednesday, February 14th were issued a $0.26 dividend. The ex-dividend date was Tuesday, February 13th. This represents a $1.04 annualized dividend and a yield of 0.54%. Tetra Tech’s dividend payout ratio (DPR) is presently 24.07%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on TTEK. Royal Bank of Canada upped their price target on Tetra Tech from $192.00 to $203.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. KeyCorp started coverage on Tetra Tech in a report on Wednesday, January 10th. They issued an “overweight” rating and a $191.00 target price for the company. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $197.25.

Tetra Tech Company 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.