Ceredex Value Advisors LLC Invests $69.80 Million in Tetra Tech (TTEK)

Ceredex Value Advisors LLC purchased a new position in Tetra Tech (NASDAQ:TTEK) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,425,922 shares of the industrial products company’s stock, valued at approximately $69,799,000.

Other large investors have also bought and sold shares of the company. Prime Capital Investment Advisors LLC purchased a new position in shares of Tetra Tech in the fourth quarter worth about $111,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Tetra Tech by 50.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,054 shares of the industrial products company’s stock worth $147,000 after buying an additional 1,019 shares in the last quarter. We Are One Seven LLC purchased a new position in shares of Tetra Tech in the fourth quarter worth about $184,000. Global X Management Co. LLC lifted its stake in shares of Tetra Tech by 75.2% in the fourth quarter. Global X Management Co. LLC now owns 3,985 shares of the industrial products company’s stock worth $192,000 after buying an additional 1,710 shares in the last quarter. Finally, CAPROCK Group Inc. purchased a new position in shares of Tetra Tech in the fourth quarter worth about $200,000. 87.35% of the stock is currently owned by hedge funds and other institutional investors.

In other Tetra Tech news, SVP Richard A. Lemmon sold 16,750 shares of Tetra Tech stock in a transaction dated Tuesday, March 6th. The shares were sold at an average price of $50.03, for a total transaction of $838,002.50. Following the completion of the sale, the senior vice president now directly owns 53,323 shares in the company, valued at $2,667,749.69. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Dan L. Batrack sold 68,270 shares of Tetra Tech stock in a transaction dated Wednesday, March 14th. The shares were sold at an average price of $51.62, for a total transaction of $3,524,097.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 131,581 shares of company stock valued at $6,733,486. Company insiders own 3.40% of the company’s stock.

Several equities research analysts recently issued reports on the stock. BidaskClub upgraded shares of Tetra Tech from a “hold” rating to a “buy” rating in a research report on Friday, May 11th. ValuEngine upgraded shares of Tetra Tech from a “hold” rating to a “buy” rating in a research report on Tuesday, May 8th. Boenning Scattergood restated a “buy” rating and set a $65.00 price objective on shares of Tetra Tech in a research report on Thursday, March 15th. Stifel Nicolaus raised their price objective on shares of Tetra Tech from $52.00 to $53.00 and gave the stock a “hold” rating in a research report on Monday, April 2nd. Finally, Zacks Investment Research cut shares of Tetra Tech from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 3rd. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Tetra Tech currently has a consensus rating of “Buy” and a consensus price target of $56.83.

Tetra Tech opened at $52.85 on Friday, Marketbeat Ratings reports. Tetra Tech has a 12-month low of $52.15 and a 12-month high of $52.45. The stock has a market cap of $2.90 billion, a P/E ratio of 24.81, a PEG ratio of 1.49 and a beta of 1.00. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.49.

Tetra Tech (NASDAQ:TTEK) last released its quarterly earnings data on Wednesday, May 2nd. The industrial products company reported $0.54 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.03. Tetra Tech had a net margin of 4.83% and a return on equity of 14.38%. The firm had revenue of $532.79 million during the quarter, compared to analysts’ expectations of $509.14 million. During the same period last year, the business earned $0.48 earnings per share. Tetra Tech’s revenue was up 4.1% compared to the same quarter last year. equities research analysts predict that Tetra Tech will post 2.59 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 1st. Shareholders of record on Wednesday, May 16th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, May 15th. This is a boost from Tetra Tech’s previous quarterly dividend of $0.10. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.91%. Tetra Tech’s dividend payout ratio (DPR) is currently 22.54%.

About Tetra Tech

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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Institutional Ownership by Quarter for Tetra Tech (NASDAQ:TTEK)

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