Loomis Sayles & Co. L P Sells 172,255 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

Loomis Sayles & Co. L P cut its holdings in Tetra Tech, Inc. (NASDAQ:TTEK) by 17.9% in the fourth quarter, HoldingsChannel reports. The firm owned 789,937 shares of the industrial products company’s stock after selling 172,255 shares during the period. Loomis Sayles & Co. L P’s holdings in Tetra Tech were worth $31,471,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Millburn Ridgefield Corp lifted its position in shares of Tetra Tech by 346.9% in the third quarter. Millburn Ridgefield Corp now owns 800 shares of the industrial products company’s stock worth $37,000 after buying an additional 621 shares during the last quarter. R Squared Ltd bought a new position in shares of Tetra Tech in the 4th quarter valued at approximately $39,000. Asset Planning Inc acquired a new stake in Tetra Tech in the 4th quarter worth approximately $40,000. Jones Financial Companies Lllp boosted its position in Tetra Tech by 98.0% during the fourth quarter. Jones Financial Companies Lllp now owns 1,000 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 495 shares during the period. Finally, Brown Brothers Harriman & Co. grew its holdings in Tetra Tech by 400.0% during the third quarter. Brown Brothers Harriman & Co. now owns 1,080 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 864 shares during the last quarter. 93.89% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Kirsten M. Volpi sold 10,116 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $34.33, for a total value of $347,282.28. Following the completion of the transaction, the director now owns 60,196 shares of the company’s stock, valued at $2,066,528.68. This represents a 14.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.40% of the stock is owned by company insiders.

Tetra Tech Price Performance

NASDAQ:TTEK opened at $29.50 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.29 and a quick ratio of 1.29. Tetra Tech, Inc. has a one year low of $28.17 and a one year high of $51.20. The company has a fifty day moving average price of $32.40 and a 200 day moving average price of $40.32. The stock has a market cap of $7.91 billion, a P/E ratio of 30.99 and a beta of 0.93.

Tetra Tech (NASDAQ:TTEK) last announced its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. Tetra Tech had a net margin of 4.81% and a return on equity of 22.58%. Analysts anticipate that Tetra Tech, Inc. will post 1.37 earnings per share for the current year.

Tetra Tech Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were paid a $0.058 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $0.23 dividend on an annualized basis and a dividend yield of 0.79%. Tetra Tech’s payout ratio is 24.21%.

Wall Street Analyst Weigh In

TTEK has been the subject of a number of analyst reports. KeyCorp reduced their price objective on shares of Tetra Tech from $49.00 to $45.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Royal Bank of Canada set a $49.00 target price on shares of Tetra Tech in a research report on Friday, January 31st. Finally, Maxim Group downgraded Tetra Tech from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.92.

Tetra Tech Company Profile

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.