Catalyst Capital Advisors LLC Increases Position in Tetra Tech, Inc. (TTEK)

Catalyst Capital Advisors LLC lifted its holdings in Tetra Tech, Inc. (NASDAQ:TTEK) by 2.3% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 45,225 shares of the industrial products company’s stock after purchasing an additional 1,000 shares during the period. Catalyst Capital Advisors LLC’s holdings in Tetra Tech were worth $2,695,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Resources Investment Advisors Inc. purchased a new position in Tetra Tech in the fourth quarter worth approximately $31,000. Enlightenment Research LLC purchased a new position in Tetra Tech in the fourth quarter worth approximately $31,000. Quantamental Technologies LLC purchased a new position in Tetra Tech in the fourth quarter worth approximately $44,000. Meeder Asset Management Inc. purchased a new position in Tetra Tech in the fourth quarter worth approximately $66,000. Finally, Private Capital Group LLC lifted its stake in Tetra Tech by 39.3% in the fourth quarter. Private Capital Group LLC now owns 2,792 shares of the industrial products company’s stock worth $145,000 after acquiring an additional 787 shares during the last quarter. Hedge funds and other institutional investors own 85.93% of the company’s stock.

In related news, SVP Craig L. Christensen sold 624 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $65.00, for a total value of $40,560.00. Following the completion of the sale, the senior vice president now owns 34,317 shares in the company, valued at approximately $2,230,605. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Mark A. Rynning sold 871 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $67.37, for a total transaction of $58,679.27. Following the completion of the sale, the senior vice president now owns 2,204 shares of the company’s stock, valued at approximately $148,483.48. The disclosure for this sale can be found here. Insiders have sold a total of 51,588 shares of company stock valued at $3,116,770 in the last 90 days. Insiders own 3.00% of the company’s stock.

A number of research analysts recently issued reports on the stock. Roth Capital lifted their price target on shares of Tetra Tech from $66.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. ValuEngine upgraded shares of Tetra Tech from a “hold” rating to a “buy” rating in a research note on Friday, February 8th. Sidoti assumed coverage on shares of Tetra Tech in a research note on Tuesday, April 9th. They issued a “buy” rating for the company. Maxim Group reiterated a “buy” rating and issued a $87.00 price target on shares of Tetra Tech in a research note on Wednesday, April 24th. Finally, BidaskClub upgraded shares of Tetra Tech from a “sell” rating to a “hold” rating in a research note on Thursday, May 9th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $76.83.

Shares of NASDAQ:TTEK opened at $65.69 on Friday. The company has a market cap of $3.75 billion, a PE ratio of 24.88, a P/E/G ratio of 1.50 and a beta of 1.18. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.23. Tetra Tech, Inc. has a twelve month low of $48.52 and a twelve month high of $72.56.

Tetra Tech (NASDAQ:TTEK) last issued its quarterly earnings data on Wednesday, May 1st. The industrial products company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.06. The business had revenue of $585.40 million during the quarter, compared to the consensus estimate of $552.65 million. Tetra Tech had a net margin of 5.44% and a return on equity of 16.71%. The company’s revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.54 EPS. On average, equities research analysts forecast that Tetra Tech, Inc. will post 3.03 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Wednesday, May 15th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.91%. The ex-dividend date is Tuesday, May 14th. This is an increase from Tetra Tech’s previous quarterly dividend of $0.12. Tetra Tech’s payout ratio is currently 22.73%.

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Tetra Tech Profile

Tetra Tech, Inc provides consulting and engineering services worldwide. It operates through Government Services Group (GSG) and Commercial/International Services Group (CIG) segments. The GSG 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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Institutional Ownership by Quarter for Tetra Tech (NASDAQ:TTEK)

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