KBC Group NV Acquires 4,636 Shares of Tetra Tech Inc. (TTEK)
KBC Group NV raised its stake in shares of Tetra Tech Inc. (NASDAQ:TTEK) by 2.0% during the third quarter, Holdings Channel reports. The fund owned 241,350 shares of the company’s stock after buying an additional 4,636 shares during the period. KBC Group NV’s holdings in Tetra Tech were worth $8,561,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of TTEK. LSV Asset Management raised its position in Tetra Tech by 270.4% in the second quarter. LSV Asset Management now owns 1,749,850 shares of the company’s stock valued at $53,799,000 after buying an additional 1,277,487 shares during the last quarter. Kleinwort Benson Investors Dublin Ltd acquired a new position in Tetra Tech during the second quarter valued at approximately $19,690,000. Bowen Hanes & Co. Inc. acquired a new position in Tetra Tech during the second quarter valued at approximately $18,894,000. RidgeWorth Capital Management LLC raised its position in Tetra Tech by 43.0% in the second quarter. RidgeWorth Capital Management LLC now owns 1,093,564 shares of the company’s stock valued at $33,529,000 after buying an additional 328,985 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Tetra Tech by 4.6% in the second quarter. Vanguard Group Inc. now owns 4,628,608 shares of the company’s stock valued at $142,306,000 after buying an additional 204,488 shares during the last quarter. 87.24% of the stock is owned by institutional investors and hedge funds.
Tetra Tech Inc. (NASDAQ:TTEK) traded down 0.37% during mid-day trading on Tuesday, reaching $43.30. 188,686 shares of the company’s stock were exchanged. Tetra Tech Inc. has a 52 week low of $22.85 and a 52 week high of $44.30. The company’s 50 day moving average price is $39.13 and its 200-day moving average price is $34.28. The company has a market capitalization of $2.47 billion, a P/E ratio of 30.49 and a beta of 1.09.
Tetra Tech (NASDAQ:TTEK) last posted its quarterly earnings data on Wednesday, November 9th. The company reported $0.59 EPS for the quarter, missing the Zacks’ consensus estimate of $0.60 by $0.01. Tetra Tech had a net margin of 3.24% and a return on equity of 12.80%. The company had revenue of $530.90 million for the quarter, compared to analyst estimates of $524.56 million. During the same period in the prior year, the company earned $0.50 EPS. The company’s revenue was up 24.3% compared to the same quarter last year. On average, equities research analysts expect that Tetra Tech Inc. will post $2.21 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 14th. Stockholders of record on Thursday, December 1st will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date is Tuesday, November 29th. Tetra Tech’s dividend payout ratio is currently 25.35%.
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A number of research analysts recently issued reports on TTEK shares. Boenning Scattergood reiterated an “outperform” rating on shares of Tetra Tech in a research note on Friday, October 7th. Zacks Investment Research upgraded shares of Tetra Tech from a “hold” rating to a “buy” rating and set a $39.00 price target for the company in a research note on Tuesday, October 4th. Finally, DA Davidson reiterated a “hold” rating and issued a $35.00 price target on shares of Tetra Tech in a research note on Wednesday, November 9th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Tetra Tech presently has a consensus rating of “Buy” and a consensus target price of $34.50.
In related news, SVP Brian N. Carter sold 5,000 shares of the stock in a transaction that occurred on Monday, November 14th. The shares were sold at an average price of $40.73, for a total transaction of $203,650.00. Following the completion of the sale, the senior vice president now owns 14,148 shares of the company’s stock, valued at approximately $576,248.04. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Kevin P. Mcdonald sold 5,500 shares of the stock in a transaction that occurred on Friday, October 14th. The stock was sold at an average price of $36.30, for a total transaction of $199,650.00. Following the sale, the senior vice president now directly owns 19,613 shares of the company’s stock, valued at approximately $711,951.90. The disclosure for this sale can be found here. Insiders own 4.00% of the company’s stock.
About Tetra Tech
Tetra Tech, Inc is a provider of consulting, engineering, program management, construction management, and technical services. The Company’s segments include Water, Environment and Infrastructure (WEI), Resource Management and Energy (RME), and Remediation and Construction Management (RCM). The WEI segment provides consulting and engineering services.
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