Tetra Tech, Inc. (NASDAQ:TTEK) Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp lowered its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 13.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,876 shares of the industrial products company’s stock after selling 727 shares during the quarter. Fifth Third Bancorp’s holdings in Tetra Tech were worth $194,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of TTEK. Exchange Traded Concepts LLC raised its position in Tetra Tech by 866.5% in the 4th quarter. Exchange Traded Concepts LLC now owns 49,271 shares of the industrial products company’s stock valued at $1,963,000 after purchasing an additional 44,173 shares in the last quarter. Brighton Jones LLC purchased a new position in Tetra Tech in the fourth quarter worth approximately $225,000. Janney Montgomery Scott LLC increased its position in shares of Tetra Tech by 2.8% in the 4th quarter. Janney Montgomery Scott LLC now owns 43,830 shares of the industrial products company’s stock valued at $1,746,000 after purchasing an additional 1,183 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of Tetra Tech by 45.3% in the 4th quarter. SG Americas Securities LLC now owns 12,915 shares of the industrial products company’s stock valued at $515,000 after purchasing an additional 4,029 shares in the last quarter. Finally, Simon Quick Advisors LLC purchased a new stake in shares of Tetra Tech during the 4th quarter worth $200,000. 93.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on TTEK. StockNews.com lowered Tetra Tech from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Robert W. Baird raised their target price on Tetra Tech from $46.00 to $47.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Royal Bank of Canada reiterated an “outperform” rating and issued a $52.00 price target on shares of Tetra Tech in a research note on Friday, November 15th. Finally, 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 report on Friday. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Tetra Tech has an average rating of “Moderate Buy” and a consensus target price of $48.52.

Tetra Tech Price Performance

TTEK stock opened at $36.80 on Friday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $9.86 billion, a P/E ratio of 38.66 and a beta of 0.90. The business has a 50 day simple moving average of $40.75 and a 200-day simple moving average of $44.21. Tetra Tech, Inc. has a twelve month low of $31.09 and a twelve month high of $51.20.

Tetra Tech (NASDAQ:TTEK) last issued its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. Tetra Tech had a net margin of 4.81% and a return on equity of 22.57%. As a group, equities analysts anticipate that Tetra Tech, Inc. will post 1.45 EPS for the current year.

Tetra Tech Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th will be given a dividend of $0.058 per share. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $0.23 dividend on an annualized basis and a yield of 0.63%. Tetra Tech’s payout ratio is 24.16%.

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.