Nordea Investment Management AB Sells 101 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

Nordea Investment Management AB lessened its holdings in Tetra Tech, Inc. (NASDAQ:TTEK) by 0.9% during the 1st quarter, HoldingsChannel.com reports. The fund owned 10,947 shares of the industrial products company’s stock after selling 101 shares during the period. Nordea Investment Management AB’s holdings in Tetra Tech were worth $2,031,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of TTEK. Schroder Investment Management Group bought a new stake in Tetra Tech during the 3rd quarter valued at about $5,946,000. Teachers Retirement System of The State of Kentucky boosted its holdings in shares of Tetra Tech by 95.7% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 17,977 shares of the industrial products company’s stock valued at $2,733,000 after purchasing an additional 8,791 shares during the period. Renaissance Investment Group LLC grew its stake in Tetra Tech by 1.1% in the fourth quarter. Renaissance Investment Group LLC now owns 65,938 shares of the industrial products company’s stock worth $11,007,000 after purchasing an additional 740 shares in the last quarter. Financial Network Wealth Management LLC bought a new stake in Tetra Tech during the 4th quarter valued at $217,000. Finally, Sarasin & Partners LLP lifted its holdings in shares of Tetra Tech by 18.3% in the 4th quarter. Sarasin & Partners LLP now owns 1,221,928 shares of the industrial products company’s stock worth $203,976,000 after buying an additional 189,049 shares during the period. Hedge funds and other institutional investors own 93.89% of the company’s stock.

Tetra Tech Stock Up 0.4 %

Tetra Tech stock opened at $200.38 on Thursday. The business has a fifty day moving average price of $209.82 and a 200-day moving average price of $188.66. Tetra Tech, Inc. has a 1-year low of $143.35 and a 1-year high of $221.40. The stock has a market capitalization of $10.72 billion, a price-to-earnings ratio of 40.56 and a beta of 0.93. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.24 and a quick ratio of 1.24.

Tetra Tech (NASDAQ:TTEK) last issued its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.13. Tetra Tech had a return on equity of 21.16% and a net margin of 5.36%. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter last year, the company earned $1.17 earnings per share. The company’s quarterly revenue was down 9.5% on a year-over-year basis. Equities research analysts forecast that Tetra Tech, Inc. will post 6.2 EPS for the current fiscal year.

Tetra Tech Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Monday, May 20th were issued a $0.29 dividend. The ex-dividend date of this dividend was Friday, May 17th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.58%. This is a boost from Tetra Tech’s previous quarterly dividend of $0.26. Tetra Tech’s dividend payout ratio (DPR) is currently 23.48%.

Insider Transactions at Tetra Tech

In related news, EVP Leslie L. Shoemaker sold 11,161 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $211.83, for a total value of $2,364,234.63. Following the transaction, the executive vice president now directly owns 74,887 shares of the company’s stock, valued at approximately $15,863,313.21. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TTEK. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $233.00 price objective on shares of Tetra Tech in a research note on Tuesday. Robert W. Baird lifted their price objective on shares of Tetra Tech from $200.00 to $223.00 and gave the company a “neutral” rating in a report on Wednesday, May 15th. StockNews.com lowered Tetra Tech from a “buy” rating to a “hold” rating in a report on Wednesday, June 19th. Maxim Group lifted their price target on Tetra Tech from $234.00 to $268.00 and gave the company a “buy” rating in a report on Thursday, May 16th. Finally, KeyCorp upped their price objective on Tetra Tech from $231.00 to $234.00 and gave the stock an “overweight” rating in a research note on Thursday, May 23rd. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Tetra Tech has an average rating of “Moderate Buy” and a consensus price target of $236.60.

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.