Russell Investments Group Ltd. increased its holdings in Tetra Tech, Inc. (NASDAQ:TTEK) by 61.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,057 shares of the industrial products company’s stock after purchasing an additional 2,688 shares during the period. Russell Investments Group Ltd.’s holdings in Tetra Tech were worth $410,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. LPL Financial LLC purchased a new stake in shares of Tetra Tech in the first quarter valued at $494,000. CAPROCK Group Inc. purchased a new stake in Tetra Tech during the second quarter valued at about $237,000. Wells Fargo & Company MN grew its position in Tetra Tech by 3.6% during the second quarter. Wells Fargo & Company MN now owns 244,189 shares of the industrial products company’s stock valued at $14,285,000 after acquiring an additional 8,485 shares during the period. Boston Partners grew its position in Tetra Tech by 0.4% during the second quarter. Boston Partners now owns 1,054,385 shares of the industrial products company’s stock valued at $61,682,000 after acquiring an additional 4,525 shares during the period. Finally, Great West Life Assurance Co. Can grew its position in Tetra Tech by 2.0% during the first quarter. Great West Life Assurance Co. Can now owns 74,403 shares of the industrial products company’s stock valued at $3,635,000 after acquiring an additional 1,478 shares during the period. 85.27% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have issued reports on TTEK shares. BidaskClub raised Tetra Tech from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 8th. Canaccord Genuity reissued a “buy” rating and set a $73.00 price target (up previously from $60.00) on shares of Tetra Tech in a research report on Thursday, August 2nd. Zacks Investment Research downgraded Tetra Tech from a “hold” rating to a “sell” rating in a research report on Monday, July 16th. Finally, Roth Capital boosted their price target on Tetra Tech from $59.00 to $73.00 and gave the company a “buy” rating in a research report on Monday, August 6th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $65.00.
TTEK stock opened at $68.26 on Monday. Tetra Tech, Inc. has a 12-month low of $44.65 and a 12-month high of $72.20. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.45. The stock has a market cap of $3.78 billion, a price-to-earnings ratio of 32.05, a PEG ratio of 1.85 and a beta of 0.99.
Tetra Tech (NASDAQ:TTEK) last posted its quarterly earnings results on Wednesday, August 1st. The industrial products company reported $0.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.06. Tetra Tech had a return on equity of 15.31% and a net margin of 4.82%. The firm had revenue of $761.50 million during the quarter, compared to the consensus estimate of $540.99 million. During the same quarter in the previous year, the business earned $0.52 earnings per share. The firm’s quarterly revenue was up 11.8% compared to the same quarter last year. On average, research analysts anticipate that Tetra Tech, Inc. will post 2.64 earnings per share for the current year.
Tetra Tech Profile
Tetra Tech, Inc provides consulting and engineering services worldwide. It operates through two segments, Water, Environment and Infrastructure (WEI); and Resource Management and Energy (RME). The WEI segment offers early data collection and monitoring, data analysis and information technology, science and engineering applied research, engineering design, construction 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.
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