Schwab Charles Investment Management Inc. increased its position in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 4.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 417,445 shares of the industrial products company’s stock after buying an additional 19,615 shares during the quarter. Schwab Charles Investment Management Inc. owned about 0.75% of Tetra Tech worth $20,100,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Rathbone Brothers plc grew its stake in Tetra Tech by 3.2% during the 3rd quarter. Rathbone Brothers plc now owns 33,395 shares of the industrial products company’s stock worth $1,555,000 after buying an additional 1,050 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new stake in Tetra Tech during the 3rd quarter worth approximately $774,000. Janney Montgomery Scott LLC acquired a new stake in Tetra Tech during the 3rd quarter worth approximately $330,000. Wells Fargo & Company MN lifted its position in Tetra Tech by 76.4% during the 3rd quarter. Wells Fargo & Company MN now owns 318,483 shares of the industrial products company’s stock worth $14,825,000 after acquiring an additional 137,887 shares during the period. Finally, American International Group Inc. lifted its position in Tetra Tech by 5.6% during the 3rd quarter. American International Group Inc. now owns 45,220 shares of the industrial products company’s stock worth $2,105,000 after acquiring an additional 2,390 shares during the period. Hedge funds and other institutional investors own 82.71% of the company’s stock.
TTEK has been the subject of a number of recent research reports. BidaskClub cut Tetra Tech from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 9th. ValuEngine cut Tetra Tech from a “buy” rating to a “hold” rating in a research report on Wednesday, December 20th. Zacks Investment Research cut Tetra Tech from a “hold” rating to a “sell” rating in a research report on Friday, November 10th. Boenning Scattergood reaffirmed a “buy” rating and set a $54.00 price objective on shares of Tetra Tech in a research report on Thursday, November 9th. Finally, Robert W. Baird increased their price objective on Tetra Tech from $47.00 to $52.00 and gave the stock a “neutral” rating in a research report on Friday, November 10th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $54.57.
In other news, SVP William R. Brownlie sold 12,713 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $50.36, for a total value of $640,226.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Dan L. Batrack sold 62,417 shares of the firm’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $48.47, for a total value of $3,025,351.99. Following the completion of the sale, the chairman now directly owns 318,994 shares of the company’s stock, valued at $15,461,639.18. The disclosure for this sale can be found here. Insiders sold a total of 162,419 shares of company stock valued at $7,922,352 over the last three months. Insiders own 3.40% of the company’s stock.
Shares of Tetra Tech, Inc. (NASDAQ:TTEK) opened at $50.45 on Wednesday. The company has a quick ratio of 2.25, a current ratio of 2.25 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $2,770.20, a P/E ratio of 21.66, a PEG ratio of 1.46 and a beta of 1.00. Tetra Tech, Inc. has a 1-year low of $38.85 and a 1-year high of $53.40.
Tetra Tech (NASDAQ:TTEK) last posted its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.53 by $0.12. The business had revenue of $544.85 million during the quarter, compared to analysts’ expectations of $510.22 million. Tetra Tech had a return on equity of 14.26% and a net margin of 4.83%. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period last year, the firm earned $0.49 EPS. sell-side analysts anticipate that Tetra Tech, Inc. will post 2.51 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 2nd. Stockholders of record on Wednesday, February 14th were issued a $0.10 dividend. The ex-dividend date was Tuesday, February 13th. This represents a $0.40 annualized dividend and a dividend yield of 0.79%. Tetra Tech’s dividend payout ratio is currently 16.74%.
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.