Arkadios Wealth Advisors Boosts Position in Tetra Tech, Inc. (NASDAQ:TTEK)

Arkadios Wealth Advisors lifted its position in Tetra Tech, Inc. (NASDAQ:TTEK) by 615.8% in the third quarter, HoldingsChannel reports. The firm owned 22,310 shares of the industrial products company’s stock after buying an additional 19,193 shares during the period. Arkadios Wealth Advisors’ holdings in Tetra Tech were worth $1,052,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Banque Cantonale Vaudoise purchased a new stake in Tetra Tech in the second quarter valued at $28,000. EverSource Wealth Advisors LLC raised its holdings in Tetra Tech by 561.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 205 shares of the industrial products company’s stock valued at $44,000 after buying an additional 174 shares during the period. Family Firm Inc. acquired a new position in Tetra Tech in the second quarter valued at about $51,000. Quarry LP purchased a new position in Tetra Tech during the second quarter worth about $54,000. Finally, 1832 Asset Management L.P. raised its stake in shares of Tetra Tech by 125.8% in the 1st quarter. 1832 Asset Management L.P. now owns 271 shares of the industrial products company’s stock valued at $50,000 after acquiring an additional 151 shares during the period. 93.89% of the stock is currently owned by institutional investors and hedge funds.

Tetra Tech Stock Performance

NASDAQ:TTEK opened at $50.52 on Wednesday. Tetra Tech, Inc. has a 52 week low of $29.09 and a 52 week high of $50.69. The company has a fifty day simple moving average of $47.45 and a two-hundred day simple moving average of $43.66. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.52. The company has a market cap of $2.70 billion, a price-to-earnings ratio of 10.23 and a beta of 0.94.

Tetra Tech (NASDAQ:TTEK) last released its earnings results on Wednesday, July 31st. The industrial products company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.31 by $0.01. The firm had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Tetra Tech had a return on equity of 21.50% and a net margin of 5.72%. Tetra Tech’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.26 EPS. As a group, equities analysts anticipate that Tetra Tech, Inc. will post 1.25 earnings per share for the current fiscal year.

Insider Transactions at Tetra Tech

In related news, CEO Dan L. Batrack sold 89,620 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $45.54, for a total value of $4,081,653.28. Following the sale, the chief executive officer now owns 124,380 shares of the company’s stock, valued at $5,664,762.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Tetra Tech news, CEO Dan L. Batrack sold 89,620 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $45.54, for a total value of $4,081,653.28. Following the sale, the chief executive officer now directly owns 124,380 shares of the company’s stock, valued at approximately $5,664,762.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Leslie L. Shoemaker sold 78,420 shares of Tetra Tech stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $46.11, for a total transaction of $3,615,946.20. Following the sale, the executive vice president now directly owns 296,015 shares of the company’s stock, valued at approximately $13,649,251.65. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 236,370 shares of company stock valued at $10,880,243. 0.61% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on TTEK shares. KeyCorp increased their price objective on shares of Tetra Tech from $49.00 to $56.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Royal Bank of Canada raised their price target on Tetra Tech from $46.60 to $51.80 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. StockNews.com upgraded Tetra Tech from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Finally, Robert W. Baird raised their target price on Tetra Tech from $44.60 to $46.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $50.48.

About Tetra Tech

Tetra Tech, Inc provides consulting and engineering services in the United States and internationally. The company operates through two segments, Government Services Group (GSG) and Commercial/International Services Group (CIG). The GSG segment offers early data collection and monitoring, data analysis and information management, science and engineering applied research, engineering design, project 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.