Tetra Tech, Inc. (NASDAQ:TTEK) Shares Sold by Duff & Phelps Investment Management Co.

Duff & Phelps Investment Management Co. cut its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 23.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 482,826 shares of the industrial products company’s stock after selling 148,134 shares during the period. Duff & Phelps Investment Management Co.’s holdings in Tetra Tech were worth $19,236,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in TTEK. Vanguard Group Inc. raised its stake in Tetra Tech by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 25,912,103 shares of the industrial products company’s stock valued at $1,032,338,000 after buying an additional 127,757 shares during the last quarter. Amundi raised its position in shares of Tetra Tech by 2.5% in the 4th quarter. Amundi now owns 4,873,176 shares of the industrial products company’s stock valued at $194,314,000 after purchasing an additional 117,304 shares during the last quarter. Geode Capital Management LLC boosted its stake in Tetra Tech by 406.6% in the 3rd quarter. Geode Capital Management LLC now owns 4,716,080 shares of the industrial products company’s stock worth $222,466,000 after purchasing an additional 3,785,189 shares in the last quarter. Norges Bank acquired a new stake in Tetra Tech in the 4th quarter worth approximately $121,390,000. Finally, Corient Private Wealth LLC grew its position in Tetra Tech by 14.9% during the 4th quarter. Corient Private Wealth LLC now owns 2,613,259 shares of the industrial products company’s stock worth $104,112,000 after purchasing an additional 339,839 shares during the last quarter. Institutional investors and hedge funds own 93.89% of the company’s stock.

Analyst Ratings Changes

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

Insider Activity at Tetra Tech

In related news, Director Kirsten M. Volpi sold 10,116 shares of the company’s stock in a transaction dated Tuesday, February 4th. The stock was 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 approximately $2,066,528.68. This represents a 14.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.40% of the company’s stock.

Tetra Tech Price Performance

Shares of TTEK opened at $29.50 on Friday. The business’s 50-day moving average is $32.40 and its two-hundred day moving average is $40.32. The company has a market capitalization of $7.91 billion, a P/E ratio of 30.99 and a beta of 0.93. Tetra Tech, Inc. has a fifty-two week low of $28.17 and a fifty-two week high of $51.20. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.29 and a current ratio of 1.29.

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

Tetra Tech Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were issued a dividend of $0.058 per share. This represents a $0.23 annualized dividend and a dividend yield of 0.79%. The ex-dividend date was Wednesday, February 12th. Tetra Tech’s dividend payout ratio (DPR) is 24.21%.

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.