IQ EQ FUND MANAGEMENT IRELAND Ltd Cuts Stake in Tetra Tech, Inc. (NASDAQ:TTEK)

IQ EQ FUND MANAGEMENT IRELAND Ltd lessened its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 58.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 22,725 shares of the industrial products company’s stock after selling 31,825 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Tetra Tech were worth $905,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in TTEK. New England Research & Management Inc. acquired a new stake in Tetra Tech in the fourth quarter worth about $596,000. Nicola Wealth Management LTD. boosted its stake in Tetra Tech by 36.8% in the 4th quarter. Nicola Wealth Management LTD. now owns 65,000 shares of the industrial products company’s stock worth $2,590,000 after purchasing an additional 17,500 shares in the last quarter. Lecap Asset Management Ltd. grew its position in Tetra Tech by 71.3% during the 4th quarter. Lecap Asset Management Ltd. now owns 44,769 shares of the industrial products company’s stock worth $1,784,000 after purchasing an additional 18,635 shares during the last quarter. Y Intercept Hong Kong Ltd increased its stake in Tetra Tech by 53.3% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 39,150 shares of the industrial products company’s stock valued at $1,560,000 after purchasing an additional 13,606 shares in the last quarter. Finally, Perpetual Ltd raised its holdings in shares of Tetra Tech by 9.6% in the fourth quarter. Perpetual Ltd now owns 215,042 shares of the industrial products company’s stock worth $8,567,000 after buying an additional 18,842 shares during the last quarter. Institutional investors and hedge funds own 93.89% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on TTEK. Royal Bank of Canada set a $49.00 price objective on shares of Tetra Tech in a report on Friday, January 31st. KeyCorp dropped their price target on Tetra Tech from $49.00 to $45.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Finally, Maxim Group cut 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $47.92.

Tetra Tech Trading Up 0.6 %

NASDAQ TTEK opened at $29.50 on Friday. Tetra Tech, Inc. has a 1 year low of $28.17 and a 1 year high of $51.20. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.29 and a quick ratio of 1.29. The company has a market capitalization of $7.91 billion, a PE ratio of 30.99 and a beta of 0.93. The company has a fifty day moving average of $32.40 and a 200 day moving average of $40.32.

Tetra Tech (NASDAQ:TTEK) last issued its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.35 earnings per share (EPS) 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%. Research analysts forecast that Tetra Tech, Inc. will post 1.37 earnings per share for the current year.

Tetra Tech Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were paid a dividend of $0.058 per share. The ex-dividend date was Wednesday, February 12th. This represents a $0.23 dividend on an annualized basis and a dividend yield of 0.79%. Tetra Tech’s payout ratio is 24.21%.

Insider Activity

In other news, Director Kirsten M. Volpi sold 10,116 shares of the 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 sale, the director now directly owns 60,196 shares of the company’s stock, valued at $2,066,528.68. This represents a 14.39 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.40% of the company’s stock.

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.