Tetra Tech, Inc. (NASDAQ:TTEK) Director Patrick C. Haden Sells 410 Shares

Tetra Tech, Inc. (NASDAQ:TTEK) Director Patrick C. Haden sold 410 shares of the business’s stock in a transaction that occurred on Tuesday, November 23rd. The stock was sold at an average price of $186.03, for a total transaction of $76,272.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

NASDAQ:TTEK opened at $190.00 on Thursday. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.20. Tetra Tech, Inc. has a 12 month low of $113.14 and a 12 month high of $192.91. The company has a market cap of $10.27 billion, a PE ratio of 53.37, a price-to-earnings-growth ratio of 2.98 and a beta of 0.86. The company has a 50 day simple moving average of $165.87 and a two-hundred day simple moving average of $142.07.

Tetra Tech (NASDAQ:TTEK) last issued its quarterly earnings data on Wednesday, November 17th. The industrial products company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.05. Tetra Tech had a net margin of 6.33% and a return on equity of 17.81%. The firm had revenue of $709.13 million during the quarter, compared to the consensus estimate of $674.37 million. During the same quarter in the previous year, the firm posted $0.91 EPS. The company’s revenue for the quarter was up 20.2% compared to the same quarter last year. Research analysts forecast that Tetra Tech, Inc. will post 3.74 earnings per share for the current year.

Tetra Tech announced that its Board of Directors has initiated a share repurchase plan on Thursday, October 7th that allows the company to buyback $400.00 million in shares. This buyback authorization allows the industrial products company to reacquire up to 4.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 20th. Stockholders of record on Thursday, December 2nd will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date is Wednesday, December 1st. Tetra Tech’s payout ratio is 22.47%.

Hedge funds have recently modified their holdings of the company. Sound Income Strategies LLC bought a new stake in shares of Tetra Tech during the 2nd quarter valued at $35,000. KB Financial Partners LLC purchased a new position in shares of Tetra Tech during the 1st quarter valued at $37,000. First Horizon Advisors Inc. lifted its stake in shares of Tetra Tech by 355.2% during the 3rd quarter. First Horizon Advisors Inc. now owns 569 shares of the industrial products company’s stock valued at $56,000 after buying an additional 444 shares in the last quarter. Maverick Capital Ltd. purchased a new position in shares of Tetra Tech during the 2nd quarter valued at $62,000. Finally, Fifth Third Bancorp lifted its stake in shares of Tetra Tech by 59.2% during the 3rd quarter. Fifth Third Bancorp now owns 441 shares of the industrial products company’s stock valued at $66,000 after buying an additional 164 shares in the last quarter. 83.67% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages recently weighed in on TTEK. Stifel Nicolaus boosted their price objective on shares of Tetra Tech from $145.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, November 18th. Zacks Investment Research raised shares of Tetra Tech from a “hold” rating to a “buy” rating and set a $189.00 target price for the company in a research report on Monday, November 15th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $165.80.

About Tetra Tech

Tetra Tech, Inc engages in the provision of consulting and engineering services. It operates through the following segments: Government Services Group (GSG); Commercial and International Services Group (CIG); and Remediation and Construction Management (RCM). The GSG segment offers consulting and engineering services primarily to United States government clients such as federal, state and local, and development agencies worldwide.

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Insider Buying and Selling by Quarter for Tetra Tech (NASDAQ:TTEK)

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