Natixis Sells 4,652 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

Natixis reduced its position in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 6.1% during the 1st quarter, HoldingsChannel.com reports. The firm owned 71,266 shares of the industrial products company’s stock after selling 4,652 shares during the quarter. Natixis’ holdings in Tetra Tech were worth $13,164,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new stake in Tetra Tech in the fourth quarter valued at approximately $96,655,000. International Assets Investment Management LLC boosted its holdings in Tetra Tech by 16,621.9% in the fourth quarter. International Assets Investment Management LLC now owns 221,064 shares of the industrial products company’s stock valued at $36,902,000 after acquiring an additional 219,742 shares during the last quarter. Schroder Investment Management Group boosted its holdings in Tetra Tech by 320.6% in the fourth quarter. Schroder Investment Management Group now owns 164,503 shares of the industrial products company’s stock valued at $27,460,000 after acquiring an additional 125,390 shares during the last quarter. Robeco Schweiz AG boosted its holdings in Tetra Tech by 26.5% in the first quarter. Robeco Schweiz AG now owns 299,389 shares of the industrial products company’s stock valued at $55,300,000 after acquiring an additional 62,699 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its holdings in Tetra Tech by 393.0% in the fourth quarter. Daiwa Securities Group Inc. now owns 58,080 shares of the industrial products company’s stock valued at $9,695,000 after acquiring an additional 46,300 shares during the last quarter. 93.89% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TTEK has been the topic of a number of research analyst reports. KeyCorp increased their price target on Tetra Tech from $231.00 to $234.00 and gave the stock an “overweight” rating in a report on Thursday, May 23rd. Robert W. Baird increased their price target on Tetra Tech from $200.00 to $223.00 and gave the stock a “neutral” rating in a report on Wednesday, May 15th. Northcoast Research upgraded Tetra Tech from a “neutral” rating to a “buy” rating and set a $225.00 price target on the stock in a report on Thursday, May 2nd. StockNews.com cut Tetra Tech from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Finally, Maxim Group increased their price target on Tetra Tech from $234.00 to $268.00 and gave the stock a “buy” rating in a report on Thursday, May 16th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Tetra Tech presently has a consensus rating of “Moderate Buy” and an average price target of $236.60.

Insider Transactions at Tetra Tech

In other news, EVP Leslie L. Shoemaker sold 11,161 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $211.83, for a total transaction of $2,364,234.63. Following the transaction, the executive vice president now directly owns 74,887 shares of the company’s stock, valued at $15,863,313.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.61% of the stock is owned by insiders.

Tetra Tech Stock Up 1.0 %

Shares of NASDAQ:TTEK traded up $2.15 during trading on Thursday, reaching $208.21. 352,644 shares of the stock were exchanged, compared to its average volume of 276,124. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.24 and a quick ratio of 1.24. Tetra Tech, Inc. has a 1-year low of $143.35 and a 1-year high of $221.40. The stock has a fifty day moving average of $208.46 and a two-hundred day moving average of $191.37. The firm has a market cap of $11.14 billion, a price-to-earnings ratio of 42.18 and a beta of 0.93.

Tetra Tech (NASDAQ:TTEK) last issued its earnings results on Wednesday, May 1st. The industrial products company reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.13. Tetra Tech had a return on equity of 21.16% and a net margin of 5.36%. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the prior year, the firm earned $1.17 earnings per share. Tetra Tech’s revenue for the quarter was down 9.5% on a year-over-year basis. Research analysts anticipate that Tetra Tech, Inc. will post 6.22 earnings per share for the current fiscal year.

Tetra Tech Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Monday, May 20th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.56%. This is a positive change from Tetra Tech’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Friday, May 17th. Tetra Tech’s dividend payout ratio is presently 23.48%.

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.