Fred Alger Management Inc. Raises Holdings in Tetra Tech, Inc. (TTEK)
Fred Alger Management Inc. boosted its position in Tetra Tech, Inc. (NASDAQ:TTEK) by 0.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,793 shares of the industrial products company’s stock after buying an additional 28 shares during the quarter. Fred Alger Management Inc.’s holdings in Tetra Tech were worth $723,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently modified their holdings of TTEK. BlackRock Inc. boosted its stake in Tetra Tech by 12,066.6% in the first quarter. BlackRock Inc. now owns 8,135,829 shares of the industrial products company’s stock worth $332,349,000 after buying an additional 8,068,959 shares in the last quarter. Vanguard Group Inc. boosted its stake in Tetra Tech by 6.2% in the first quarter. Vanguard Group Inc. now owns 5,212,870 shares of the industrial products company’s stock worth $212,946,000 after buying an additional 302,821 shares in the last quarter. Premier Asset Management LLC purchased a new stake in Tetra Tech in the second quarter worth approximately $7,249,000. PDT Partners LLC purchased a new stake in Tetra Tech in the second quarter worth approximately $6,519,000. Finally, Rice Hall James & Associates LLC boosted its stake in Tetra Tech by 12.0% in the second quarter. Rice Hall James & Associates LLC now owns 1,256,181 shares of the industrial products company’s stock worth $57,470,000 after buying an additional 134,770 shares in the last quarter. 84.77% of the stock is owned by institutional investors and hedge funds.
Several brokerages have issued reports on TTEK. Zacks Investment Research raised Tetra Tech from a “sell” rating to a “hold” rating in a research note on Friday. Stifel Nicolaus reaffirmed a “hold” rating and issued a $47.00 target price on shares of Tetra Tech in a research note on Thursday, September 7th. Robert W. Baird reaffirmed a “hold” rating and issued a $47.00 target price on shares of Tetra Tech in a research note on Tuesday, September 5th. Boenning Scattergood reiterated an “outperform” rating on shares of Tetra Tech in a research report on Tuesday, September 5th. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $52.00 price objective on shares of Tetra Tech in a research report on Friday, August 4th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Tetra Tech currently has an average rating of “Hold” and an average target price of $48.86.
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Shares of Tetra Tech, Inc. (NASDAQ:TTEK) opened at 48.05 on Monday. The firm has a 50-day moving average price of $43.61 and a 200 day moving average price of $44.10. The company has a market cap of $2.72 billion, a P/E ratio of 24.35 and a beta of 1.07. Tetra Tech, Inc. has a 12 month low of $35.98 and a 12 month high of $48.35.
Tetra Tech (NASDAQ:TTEK) last announced its earnings results on Wednesday, August 2nd. The industrial products company reported $0.53 EPS for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.01). The company had revenue of $498.47 million during the quarter, compared to analysts’ expectations of $535.18 million. Tetra Tech had a return on equity of 13.65% and a net margin of 4.17%. Tetra Tech’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.50 EPS. Equities analysts predict that Tetra Tech, Inc. will post $2.11 earnings per share for the current year.
Tetra Tech Company Profile
Tetra Tech, Inc is a provider of consulting, engineering, program management, construction management, and technical services. The Company’s segments include Water, Environment and Infrastructure (WEI), Resource Management and Energy (RME), and Remediation and Construction Management (RCM). The WEI segment provides consulting and engineering services.
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