Penobscot Investment Management Company Inc. Cuts Stock Position in Tetra Tech, Inc. (NASDAQ:TTEK)

Penobscot Investment Management Company Inc. decreased its holdings in Tetra Tech, Inc. (NASDAQ:TTEK) by 0.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 150,000 shares of the industrial products company’s stock after selling 355 shares during the period. Penobscot Investment Management Company Inc. owned 0.06% of Tetra Tech worth $5,976,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. 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 during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Tetra Tech by 357.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,070,483 shares of the industrial products company’s stock worth $97,644,000 after buying an additional 1,618,211 shares in the last quarter. King Luther Capital Management Corp grew its stake in Tetra Tech by 324.0% during the fourth quarter. King Luther Capital Management Corp now owns 1,278,295 shares of the industrial products company’s stock valued at $50,927,000 after acquiring an additional 976,810 shares in the last quarter. Rockefeller Capital Management L.P. increased its holdings in Tetra Tech by 365.0% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 1,138,716 shares of the industrial products company’s stock valued at $53,739,000 after acquiring an additional 893,827 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in Tetra Tech by 365.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,077,828 shares of the industrial products company’s stock worth $50,830,000 after purchasing an additional 846,284 shares in the last quarter. Hedge funds and other institutional investors own 93.89% of the company’s stock.

Tetra Tech Price Performance

Shares of Tetra Tech stock opened at $29.44 on Wednesday. The stock has a 50 day moving average price of $33.16 and a 200-day moving average price of $40.68. Tetra Tech, Inc. has a one year low of $28.17 and a one year high of $51.20. The stock has a market cap of $7.89 billion, a price-to-earnings ratio of 30.92 and a beta of 0.93. 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 posted its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.35 EPS for the quarter, topping 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%. Equities analysts expect that Tetra Tech, Inc. will post 1.37 EPS for the current year.

Tetra Tech Dividend Announcement

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

Wall Street Analyst Weigh In

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

Insider Transactions at Tetra Tech

In other Tetra Tech news, Director Kirsten M. Volpi sold 10,116 shares of the stock in a transaction on Tuesday, February 4th. The stock was 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 in the company, valued at $2,066,528.68. This trade represents a 14.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.40% of the company’s stock.

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.