Orion Portfolio Solutions LLC Cuts Stake in Tetra Tech, Inc. (NASDAQ:TTEK)

Orion Portfolio Solutions LLC reduced its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 36.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 39,078 shares of the industrial products company’s stock after selling 22,400 shares during the period. Orion Portfolio Solutions LLC’s holdings in Tetra Tech were worth $1,557,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Millburn Ridgefield Corp grew its holdings in shares of Tetra Tech by 346.9% during the 3rd quarter. Millburn Ridgefield Corp now owns 800 shares of the industrial products company’s stock valued at $37,000 after purchasing an additional 621 shares during the last quarter. R Squared Ltd purchased a new stake in Tetra Tech during the fourth quarter valued at about $39,000. Asset Planning Inc bought a new position in shares of Tetra Tech during the fourth quarter valued at about $40,000. Jones Financial Companies Lllp grew its stake in shares of Tetra Tech by 98.0% during the fourth quarter. Jones Financial Companies Lllp now owns 1,000 shares of the industrial products company’s stock valued at $40,000 after buying an additional 495 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of Tetra Tech by 235.8% in the fourth quarter. Blue Trust Inc. now owns 1,444 shares of the industrial products company’s stock worth $58,000 after buying an additional 1,014 shares during the period. 93.89% of the stock is owned by hedge funds and other institutional investors.

Tetra Tech Price Performance

Shares of TTEK stock opened at $30.01 on Friday. 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, Inc. has a fifty-two week low of $28.17 and a fifty-two week high of $51.20. The firm has a market cap of $8.04 billion, a P/E ratio of 31.52 and a beta of 0.93. The business’s 50 day moving average price is $31.21 and its 200-day moving average price is $39.75.

Tetra Tech (NASDAQ:TTEK) last released its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $0.35 earnings per share 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%. On average, equities research analysts anticipate that Tetra Tech, Inc. will post 1.37 earnings per share for the current year.

Tetra Tech Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were issued a $0.058 dividend. The ex-dividend date was Wednesday, February 12th. This represents a $0.23 annualized dividend and a yield of 0.77%. Tetra Tech’s dividend payout ratio (DPR) is presently 24.21%.

Analysts Set New Price Targets

Several research firms recently issued reports on TTEK. KeyCorp reduced their price target on Tetra Tech from $49.00 to $45.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Maxim Group cut shares of Tetra Tech from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Finally, Royal Bank of Canada set a $49.00 price target on shares of Tetra Tech in a report on Friday, January 31st. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $47.92.

Insider Buying and Selling at Tetra Tech

In other Tetra Tech news, Director Kirsten M. Volpi sold 10,116 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $34.33, for a total transaction 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 trade represents a 14.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.40% of the company’s stock.

Tetra Tech Company 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.