Tetra Tech, Inc. (NASDAQ:TTEK) Holdings Lowered by Allianz Asset Management GmbH

Allianz Asset Management GmbH decreased its stake in Tetra Tech, Inc. (NASDAQ:TTEK) by 1.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,090,463 shares of the industrial products company’s stock after selling 33,372 shares during the quarter. Allianz Asset Management GmbH owned 0.78% of Tetra Tech worth $83,284,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of TTEK. Handelsbanken Fonder AB raised its stake in Tetra Tech by 8.4% during the 4th quarter. Handelsbanken Fonder AB now owns 68,345 shares of the industrial products company’s stock valued at $2,723,000 after purchasing an additional 5,300 shares during the period. TimesSquare Capital Management LLC raised its position in Tetra Tech by 44.9% during the fourth quarter. TimesSquare Capital Management LLC now owns 1,036,856 shares of the industrial products company’s stock valued at $41,308,000 after buying an additional 321,151 shares during the period. New York State Common Retirement Fund lifted its stake in Tetra Tech by 5.3% in the 4th quarter. New York State Common Retirement Fund now owns 647,808 shares of the industrial products company’s stock worth $25,809,000 after acquiring an additional 32,713 shares in the last quarter. Venturi Wealth Management LLC lifted its stake in Tetra Tech by 171.7% in the 4th quarter. Venturi Wealth Management LLC now owns 1,644 shares of the industrial products company’s stock worth $65,000 after acquiring an additional 1,039 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its position in Tetra Tech by 5.6% during the 4th quarter. CIBC Asset Management Inc now owns 8,318 shares of the industrial products company’s stock worth $331,000 after acquiring an additional 438 shares during the period. Hedge funds and other institutional investors own 93.89% of the company’s stock.

Insider Buying and Selling at Tetra Tech

In other Tetra Tech news, Director Kirsten M. Volpi sold 10,116 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $34.33, for a total transaction of $347,282.28. Following the completion of the sale, the director now directly owns 60,196 shares in the company, valued at $2,066,528.68. This represents a 14.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.40% of the company’s stock.

Tetra Tech Stock Down 0.1 %

Tetra Tech stock opened at $29.93 on Friday. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.53. Tetra Tech, Inc. has a 1-year low of $29.23 and a 1-year high of $51.20. The firm’s fifty day simple moving average is $37.73 and its 200-day simple moving average is $43.15. The company has a market capitalization of $8.02 billion, a P/E ratio of 31.44 and a beta of 0.89.

Tetra Tech (NASDAQ:TTEK) last posted its earnings results on Wednesday, January 29th. The industrial products company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.01. Tetra Tech had a return on equity of 22.58% and a net margin of 4.81%. Sell-side analysts forecast that Tetra Tech, Inc. will post 1.37 earnings per share for the current fiscal year.

Tetra Tech Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th will be given a dividend of $0.058 per share. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $0.23 dividend on an annualized basis and a yield of 0.78%. Tetra Tech’s payout ratio is currently 24.16%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on TTEK shares. KeyCorp dropped their target price on Tetra Tech from $49.00 to $45.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Royal Bank of Canada reiterated an “outperform” rating and issued a $52.00 target price on shares of Tetra Tech in a research report on Friday, November 15th. Robert W. Baird lifted their target price on shares of Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. StockNews.com downgraded shares of Tetra Tech from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Finally, Maxim Group downgraded Tetra Tech from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Tetra Tech currently has an average rating of “Moderate Buy” and an average target price of $48.52.

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.