Los Angeles Capital Management LLC Reduces Holdings in Tetra Tech, Inc. (NASDAQ:TTEK)

Los Angeles Capital Management LLC reduced its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 23.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 47,791 shares of the industrial products company’s stock after selling 14,708 shares during the period. Los Angeles Capital Management LLC owned about 0.09% of Tetra Tech worth $7,978,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in TTEK. Commonwealth Equity Services LLC grew its position in shares of Tetra Tech by 6.1% during the third quarter. Commonwealth Equity Services LLC now owns 5,046 shares of the industrial products company’s stock worth $767,000 after purchasing an additional 290 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in Tetra Tech by 7.8% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 1,856 shares of the industrial products company’s stock valued at $282,000 after buying an additional 134 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Tetra Tech by 13.0% in the third quarter. Robeco Institutional Asset Management B.V. now owns 35,971 shares of the industrial products company’s stock worth $5,469,000 after buying an additional 4,149 shares in the last quarter. Raymond James & Associates boosted its position in shares of Tetra Tech by 29.3% during the third quarter. Raymond James & Associates now owns 34,158 shares of the industrial products company’s stock worth $5,193,000 after acquiring an additional 7,744 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its stake in Tetra Tech by 7.5% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 22,558 shares of the industrial products company’s stock valued at $3,429,000 after acquiring an additional 1,566 shares in the last quarter. 93.89% of the stock is currently owned by institutional investors.

Tetra Tech Stock Performance

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

Tetra Tech (NASDAQ:TTEK) last announced its earnings results on Wednesday, May 1st. The industrial products company reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.13. The business had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.03 billion. Tetra Tech had a net margin of 5.36% and a return on equity of 21.16%. The business’s revenue for the quarter was down 9.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.17 earnings per share. On average, sell-side analysts anticipate that Tetra Tech, Inc. will post 6.2 earnings per share for the current year.

Tetra Tech Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Monday, May 20th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 0.56%. 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. Tetra Tech’s payout ratio is 21.05%.

Insider Activity

In other Tetra Tech news, Director J Kenneth Thompson sold 3,500 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $177.24, for a total value of $620,340.00. Following the transaction, the director now owns 10,985 shares of the company’s stock, valued at approximately $1,946,981.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Tetra Tech news, Director J Kenneth Thompson sold 3,500 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $177.24, for a total transaction of $620,340.00. Following the transaction, the director now directly owns 10,985 shares in the company, valued at approximately $1,946,981.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Steven M. Burdick sold 7,515 shares of the company’s stock in a transaction 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 completion of the sale, 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. Over the last 90 days, insiders have sold 32,123 shares of company stock valued at $5,487,673. 0.61% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on TTEK shares. Maxim Group increased their price objective on shares of Tetra Tech from $220.00 to $230.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Robert W. Baird increased their price target on Tetra Tech from $180.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday. KeyCorp lifted their price objective on Tetra Tech from $209.00 to $219.00 and gave the stock an “overweight” 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 research report on Thursday. Finally, Royal Bank of Canada lifted their price objective on shares of Tetra Tech from $203.00 to $233.00 and gave the stock an “outperform” rating in a research note on Friday. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $221.40.

About Tetra Tech

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.