Neuberger Berman Group LLC Reduced Holding in Tetra Tech, Inc. (TTEK)

Neuberger Berman Group LLC Reduced Holding in Tetra Tech, Inc. (TTEK)

Neuberger Berman Group LLC lowered its position in Tetra Tech, Inc. (NASDAQ:TTEK) by 2.5% during the first quarter, Holdings Channel reports. The firm owned 842,931 shares of the industrial products company’s stock after selling 21,258 shares during the period. Neuberger Berman Group LLC’s holdings in Tetra Tech were worth $34,434,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. KCG Holdings Inc. purchased a new stake in shares of Tetra Tech during the third quarter worth about $738,000. Rainier Investment Management LLC boosted its stake in shares of Tetra Tech by 171.2% in the third quarter. Rainier Investment Management LLC now owns 311,930 shares of the industrial products company’s stock worth $11,064,000 after buying an additional 196,930 shares during the period. Gotham Asset Management LLC purchased a new stake in shares of Tetra Tech during the third quarter worth about $6,245,000. Phocas Financial Corp. boosted its stake in shares of Tetra Tech by 6.5% in the third quarter. Phocas Financial Corp. now owns 433,540 shares of the industrial products company’s stock worth $15,378,000 after buying an additional 26,468 shares during the period. Finally, Cookson Peirce & Co. Inc. purchased a new stake in shares of Tetra Tech during the third quarter worth about $2,123,000. Institutional investors and hedge funds own 86.14% of the company’s stock.

Shares of Tetra Tech, Inc. (TTEK) traded up 1.772% on Friday, hitting $47.375. 199,952 shares of the stock traded hands. The stock has a market cap of $2.71 billion, a PE ratio of 25.000 and a beta of 1.11. Tetra Tech, Inc. has a 1-year low of $29.13 and a 1-year high of $47.75. The stock has a 50 day moving average of $44.41 and a 200-day moving average of $42.51.

Tetra Tech (NASDAQ:TTEK) last posted its quarterly earnings results on Wednesday, May 3rd. The industrial products company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.02. The firm had revenue of $511.95 million for the quarter, compared to analysts’ expectations of $491.60 million. Tetra Tech had a return on equity of 13.28% and a net margin of 3.24%. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.37 EPS. On average, equities research analysts expect that Tetra Tech, Inc. will post $2.22 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 2nd. Shareholders of record on Thursday, May 18th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.86%. This is a boost from Tetra Tech’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Tuesday, May 16th. Tetra Tech’s dividend payout ratio is presently 24.16%.

A number of equities research analysts have commented on the stock. Sidoti reissued a “buy” rating and set a $58.00 price objective (up previously from $55.00) on shares of Tetra Tech in a report on Sunday, May 14th. Stifel Nicolaus increased their price objective on shares of Tetra Tech to $45.00 and gave the stock a “hold” rating in a report on Monday, February 6th. Zacks Investment Research lowered shares of Tetra Tech from a “hold” rating to a “sell” rating in a report on Wednesday, April 12th. Finally, Canaccord Genuity reissued a “buy” rating and set a $50.00 price objective on shares of Tetra Tech in a report on Thursday, March 23rd. One analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $46.56.

In other Tetra Tech news, insider Ronald J. Chu sold 32,951 shares of the stock in a transaction that occurred on Thursday, May 4th. The stock was sold at an average price of $46.00, for a total transaction of $1,515,746.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Steven M. Burdick sold 16,750 shares of the stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $44.87, for a total value of $751,572.50. The disclosure for this sale can be found here. Insiders have sold a total of 362,464 shares of company stock worth $16,528,179 over the last 90 days. Company insiders own 4.00% of the company’s stock.

Tetra Tech Company Profile

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:TTEK”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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