Wellington Shields Capital Management LLC lowered its position in shares of Tetra Tech Inc. (NASDAQ:TTEK) by 15.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 44,700 shares of the company’s stock after selling 8,300 shares during the period. Wellington Shields Capital Management LLC’s holdings in Tetra Tech were worth $1,586,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Tower Research Capital LLC TRC increased its position in shares of Tetra Tech by 1,444.9% in the second quarter. Tower Research Capital LLC TRC now owns 3,337 shares of the company’s stock worth $102,000 after buying an additional 3,121 shares during the period. US Bancorp DE increased its position in shares of Tetra Tech by 8.0% in the second quarter. US Bancorp DE now owns 4,196 shares of the company’s stock worth $129,000 after buying an additional 312 shares during the period. Tocqueville Asset Management L.P. purchased a new position in shares of Tetra Tech during the third quarter worth $207,000. PineBridge Investments L.P. increased its position in shares of Tetra Tech by 2.6% in the second quarter. PineBridge Investments L.P. now owns 7,347 shares of the company’s stock worth $226,000 after buying an additional 183 shares during the period. Finally, Amalgamated Bank purchased a new position in shares of Tetra Tech during the second quarter worth $232,000. Institutional investors own 85.78% of the company’s stock.
Tetra Tech Inc. (NASDAQ:TTEK) traded down 0.48% during mid-day trading on Thursday, hitting $41.70. 319,915 shares of the stock were exchanged. The company has a market cap of $2.38 billion, a P/E ratio of 29.37 and a beta of 1.13. The company has a 50-day moving average price of $43.03 and a 200-day moving average price of $37.58. Tetra Tech Inc. has a one year low of $23.18 and a one year high of $44.30.
Tetra Tech (NASDAQ:TTEK) last released its earnings results on Wednesday, November 9th. The company reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 earned $530.90 million during the quarter, compared to analysts’ expectations of $524.56 million. During the same quarter in the previous year, the firm posted $0.50 earnings per share. Tetra Tech’s revenue for the quarter was up 24.3% compared to the same quarter last year. Analysts forecast that Tetra Tech Inc. will post $2.16 earnings per share for the current fiscal year.
A number of research analysts have weighed in on TTEK shares. Zacks Investment Research upgraded shares of Tetra Tech from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a research report on Tuesday, October 4th. DA Davidson reissued a “hold” rating and set a $35.00 target price on shares of Tetra Tech in a research note on Wednesday, November 9th. Finally, Boenning Scattergood reissued an “outperform” rating on shares of Tetra Tech in a research note on Friday, October 7th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Tetra Tech presently has a consensus rating of “Buy” and an average price target of $36.00.
In other Tetra Tech news, Director Albert E. Smith sold 16,000 shares of Tetra Tech stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $42.78, for a total transaction of $684,480.00. Following the transaction, the director now directly owns 43,877 shares of the company’s stock, valued at $1,877,058.06. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Brian N. Carter sold 5,000 shares of Tetra Tech 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 transaction, the senior vice president now directly owns 14,148 shares in the company, valued at $576,248.04. The disclosure for this sale can be found here. 4.00% of the stock is currently owned by insiders.
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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