Tetra Tech, Inc. (NASDAQ:TTEK) Shares Bought by Lapides Asset Management LLC

Lapides Asset Management LLC raised its position in Tetra Tech, Inc. (NASDAQ:TTEK) by 33.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 32,800 shares of the industrial products company’s stock after acquiring an additional 8,300 shares during the period. Tetra Tech makes up 1.5% of Lapides Asset Management LLC’s investment portfolio, making the stock its 27th largest holding. Lapides Asset Management LLC’s holdings in Tetra Tech were worth $2,595,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. D.A. Davidson & CO. lifted its stake in shares of Tetra Tech by 1.5% in the 1st quarter. D.A. Davidson & CO. now owns 10,150 shares of the industrial products company’s stock worth $728,000 after acquiring an additional 150 shares during the period. Ladenburg Thalmann Financial Services Inc. lifted its stake in shares of Tetra Tech by 3.1% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,058 shares of the industrial products company’s stock worth $428,000 after acquiring an additional 153 shares during the period. Rathbone Brothers plc lifted its stake in shares of Tetra Tech by 1.7% in the 1st quarter. Rathbone Brothers plc now owns 14,870 shares of the industrial products company’s stock worth $1,050,000 after acquiring an additional 250 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Tetra Tech by 1.9% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 13,464 shares of the industrial products company’s stock worth $951,000 after acquiring an additional 255 shares during the period. Finally, Louisiana State Employees Retirement System lifted its stake in shares of Tetra Tech by 2.3% in the 2nd quarter. Louisiana State Employees Retirement System now owns 13,500 shares of the industrial products company’s stock worth $1,068,000 after acquiring an additional 300 shares during the period. Institutional investors own 83.09% of the company’s stock.

Shares of TTEK traded down $1.18 during mid-day trading on Friday, hitting $88.65. The company had a trading volume of 381,707 shares, compared to its average volume of 235,364. The business’s 50-day simple moving average is $79.37 and its 200-day simple moving average is $80.56. The company has a quick ratio of 1.36, a current ratio of 1.31 and a debt-to-equity ratio of 0.46. Tetra Tech, Inc. has a 1-year low of $63.61 and a 1-year high of $99.34. The stock has a market cap of $4.79 billion, a PE ratio of 27.45, a P/E/G ratio of 1.87 and a beta of 0.87.

Tetra Tech (NASDAQ:TTEK) last released its earnings results on Wednesday, July 29th. The industrial products company reported $0.78 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.05. The business had revenue of $709.70 million for the quarter, compared to analysts’ expectations of $552.44 million. Tetra Tech had a net margin of 4.56% and a return on equity of 18.03%. The company’s quarterly revenue was up 13.9% on a year-over-year basis. During the same period last year, the company earned $0.89 earnings per share. On average, sell-side analysts expect that Tetra Tech, Inc. will post 3.16 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Stockholders of record on Friday, August 21st will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.77%. Tetra Tech’s payout ratio is currently 21.45%.

A number of brokerages have recently issued reports on TTEK. Zacks Investment Research downgraded shares of Tetra Tech from a “hold” rating to a “sell” rating and set a $81.00 price target for the company. in a report on Wednesday, April 8th. BidaskClub upgraded shares of Tetra Tech from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 28th. Roth Capital increased their price target on shares of Tetra Tech from $80.00 to $85.00 in a report on Friday, July 3rd. Berenberg Bank began coverage on shares of Tetra Tech in a report on Thursday, June 11th. They issued a “buy” rating and a $97.00 price target for the company. Finally, Sidoti increased their price target on shares of Tetra Tech from $104.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday, June 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $91.00.

In other news, Director Kirsten M. Volpi sold 1,351 shares of the business’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $70.56, for a total transaction of $95,326.56. Following the transaction, the director now directly owns 18,208 shares of the company’s stock, valued at $1,284,756.48. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP William R. Brownlie sold 10,000 shares of the business’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $79.57, for a total transaction of $795,700.00. The disclosure for this sale can be found here. Insiders own 1.97% of the company’s stock.

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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