Principal Financial Group Inc. Lowers Position in Tetra Tech, Inc. (NASDAQ:TTEK)

Principal Financial Group Inc. decreased its position in shares of Tetra Tech, Inc. (NASDAQ:TTEKFree Report) by 1.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 196,916 shares of the industrial products company’s stock after selling 3,374 shares during the period. Principal Financial Group Inc.’s holdings in Tetra Tech were worth $29,937,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in shares of Tetra Tech during the second quarter valued at about $29,000. Denali Advisors LLC grew its stake in shares of Tetra Tech by 92.6% in the second quarter. Denali Advisors LLC now owns 208 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 100 shares during the last quarter. Meeder Asset Management Inc. grew its stake in shares of Tetra Tech by 165.9% in the fourth quarter. Meeder Asset Management Inc. now owns 242 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 151 shares during the last quarter. Millburn Ridgefield Corp bought a new stake in shares of Tetra Tech in the third quarter worth about $37,000. Finally, ST Germain D J Co. Inc. bought a new stake in shares of Tetra Tech in the second quarter worth about $38,000. Hedge funds and other institutional investors own 87.95% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. StockNews.com started coverage on Tetra Tech in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. KeyCorp started coverage on shares of Tetra Tech in a report on Wednesday, January 10th. They issued an “overweight” rating and a $191.00 price objective for the company. Finally, Robert W. Baird raised their price objective on shares of Tetra Tech from $172.00 to $180.00 and gave the stock a “neutral” rating in a report on Thursday, November 16th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $191.75.

Check Out Our Latest Analysis on TTEK

Tetra Tech Stock Up 0.1 %

Shares of TTEK stock traded up $0.18 during trading hours on Friday, hitting $162.32. 42,932 shares of the company’s stock traded hands, compared to its average volume of 200,895. The stock’s fifty day simple moving average is $164.47 and its two-hundred day simple moving average is $161.42. Tetra Tech, Inc. has a 12-month low of $131.19 and a 12-month high of $173.27. The stock has a market cap of $8.68 billion, a price-to-earnings ratio of 31.79 and a beta of 0.94. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.63.

Tetra Tech (NASDAQ:TTEKGet Free Report) last announced its quarterly earnings data on Wednesday, November 15th. The industrial products company reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.34. Tetra Tech had a net margin of 6.05% and a return on equity of 21.63%. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the business earned $1.26 EPS. The firm’s revenue for the quarter was up 43.6% on a year-over-year basis. On average, analysts expect that Tetra Tech, Inc. will post 5.9 EPS for the current year.

Tetra Tech Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 13th. Investors of record on Thursday, November 30th were issued a $0.26 dividend. The ex-dividend date was Wednesday, November 29th. This represents a $1.04 dividend on an annualized basis and a yield of 0.64%. Tetra Tech’s payout ratio is currently 20.39%.

Insider Buying and Selling

In related news, CEO Dan L. Batrack sold 22,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $161.51, for a total value of $3,553,220.00. Following the completion of the transaction, the chief executive officer now directly owns 48,566 shares in the company, valued at approximately $7,843,894.66. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Tetra Tech news, CEO Dan L. Batrack sold 22,000 shares of Tetra Tech stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $161.51, for a total value of $3,553,220.00. Following the completion of the sale, the chief executive officer now owns 48,566 shares of the company’s stock, valued at approximately $7,843,894.66. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Preston Hopson III sold 1,395 shares of the business’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $164.13, for a total transaction of $228,961.35. Following the sale, the senior vice president now directly owns 14,792 shares of the company’s stock, valued at approximately $2,427,810.96. The disclosure for this sale can be found here. Insiders sold a total of 32,232 shares of company stock worth $5,231,987 in the last three months. Insiders own 0.61% of the company’s stock.

About Tetra Tech

(Free Report)

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.

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Institutional Ownership by Quarter for Tetra Tech (NASDAQ:TTEK)

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