Steven M. Burdick Sells 36,830 Shares of Tetra Tech, Inc. (NASDAQ:TTEK) Stock

Tetra Tech, Inc. (NASDAQ:TTEK) CFO Steven M. Burdick sold 36,830 shares of Tetra Tech stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $46.57, for a total value of $1,715,173.10. Following the completion of the sale, the chief financial officer now directly owns 112,620 shares in the company, valued at $5,244,713.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Tetra Tech Price Performance

Shares of TTEK stock opened at $46.24 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.21 and a quick ratio of 1.21. The company has a market capitalization of $12.38 billion, a PE ratio of 9.36 and a beta of 0.95. The firm’s 50-day moving average is $44.24 and its two-hundred day moving average is $41.17. Tetra Tech, Inc. has a 12 month low of $28.67 and a 12 month high of $48.26.

Tetra Tech (NASDAQ:TTEK) last released its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.31 by $0.01. The firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.08 billion. Tetra Tech had a net margin of 5.72% and a return on equity of 21.50%. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.26 EPS. Analysts predict that Tetra Tech, Inc. will post 1.25 earnings per share for the current year.

Tetra Tech Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Thursday, August 15th were issued a dividend of $0.058 per share. This represents a $0.23 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend was Thursday, August 15th. Tetra Tech’s dividend payout ratio is presently 4.66%.

Analyst Upgrades and Downgrades

TTEK has been the subject of a number of research reports. Royal Bank of Canada upped their target price on shares of Tetra Tech from $46.60 to $51.80 and gave the stock an “outperform” rating in a report on Friday, August 2nd. StockNews.com raised shares of Tetra Tech from a “hold” rating to a “buy” rating in a research note on Saturday. Robert W. Baird raised their target price on shares of Tetra Tech from $44.60 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Finally, KeyCorp upped their price target on Tetra Tech from $46.80 to $49.40 and gave the company an “overweight” rating in a research report on Friday, August 2nd. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Tetra Tech presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.16.

Institutional Trading of Tetra Tech

Several institutional investors and hedge funds have recently bought and sold shares of TTEK. Natixis Advisors L.P. purchased a new stake in Tetra Tech in the fourth quarter valued at approximately $1,821,000. Nwam LLC purchased a new stake in shares of Tetra Tech in the 1st quarter valued at $1,123,000. Sarasin & Partners LLP lifted its stake in Tetra Tech by 2.6% during the 1st quarter. Sarasin & Partners LLP now owns 1,253,981 shares of the industrial products company’s stock worth $231,623,000 after acquiring an additional 32,053 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in Tetra Tech by 88.6% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 12,384 shares of the industrial products company’s stock valued at $2,288,000 after acquiring an additional 5,819 shares during the period. Finally, Van ECK Associates Corp grew its position in Tetra Tech by 26.5% in the 1st quarter. Van ECK Associates Corp now owns 39,564 shares of the industrial products company’s stock valued at $7,307,000 after acquiring an additional 8,289 shares in the last quarter. 93.89% of the stock is currently owned by hedge funds and other institutional investors.

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.