Arizona State Retirement System Grows Stock Position in Tetra Tech, Inc. (NASDAQ:TTEK)

Arizona State Retirement System lifted its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 0.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 77,643 shares of the industrial products company’s stock after acquiring an additional 619 shares during the period. Arizona State Retirement System’s holdings in Tetra Tech were worth $3,093,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of TTEK. US Bancorp DE increased its stake in Tetra Tech by 401.8% during the 3rd quarter. US Bancorp DE now owns 17,093 shares of the industrial products company’s stock valued at $806,000 after purchasing an additional 13,687 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of Tetra Tech by 461.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,548 shares of the industrial products company’s stock valued at $167,000 after acquiring an additional 2,916 shares during the period. Janney Montgomery Scott LLC raised its stake in Tetra Tech by 250.2% in the 3rd quarter. Janney Montgomery Scott LLC now owns 42,647 shares of the industrial products company’s stock worth $2,011,000 after acquiring an additional 30,468 shares during the last quarter. QRG Capital Management Inc. purchased a new position in Tetra Tech in the 3rd quarter worth $206,000. Finally, Concurrent Investment Advisors LLC lifted its position in Tetra Tech by 385.0% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 6,630 shares of the industrial products company’s stock worth $313,000 after acquiring an additional 5,263 shares during the period. Institutional investors and hedge funds own 93.89% of the company’s stock.

Insiders Place Their Bets

In related news, Director Kirsten M. Volpi sold 10,116 shares of Tetra Tech stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $34.33, for a total value of $347,282.28. Following the sale, the director now owns 60,196 shares of the company’s stock, valued at approximately $2,066,528.68. This trade represents a 14.39 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

TTEK has been the subject of a number of research reports. StockNews.com downgraded Tetra Tech from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Royal Bank of Canada set a $49.00 price objective on shares of Tetra Tech in a research note on Friday, January 31st. KeyCorp cut their price objective on shares of Tetra Tech from $49.00 to $45.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Robert W. Baird boosted their target price on shares of Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. 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 assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $47.92.

Tetra Tech Price Performance

Shares of NASDAQ TTEK opened at $30.02 on Monday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.29 and a quick ratio of 1.29. The firm’s 50 day simple moving average is $35.52 and its 200-day simple moving average is $42.03. Tetra Tech, Inc. has a 12 month low of $28.17 and a 12 month high of $51.20. The stock has a market capitalization of $8.05 billion, a price-to-earnings ratio of 31.53 and a beta of 0.93.

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

Tetra Tech Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were issued 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 yield of 0.77%. Tetra Tech’s payout ratio is 24.21%.

Tetra Tech 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.