Systematic Financial Management LP Sells 62,773 Shares of Tetra Tech, Inc. (TTEK)
Systematic Financial Management LP cut its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 20.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 251,073 shares of the industrial products company’s stock after selling 62,773 shares during the quarter. Systematic Financial Management LP owned about 0.44% of Tetra Tech worth $11,687,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the business. Manchester Capital Management LLC raised its stake in Tetra Tech by 0.3% during the second quarter. Manchester Capital Management LLC now owns 17,906 shares of the industrial products company’s stock worth $819,000 after purchasing an additional 55 shares during the period. Amalgamated Bank increased its stake in Tetra Tech by 2.6% during the 2nd quarter. Amalgamated Bank now owns 7,989 shares of the industrial products company’s stock worth $365,000 after buying an additional 202 shares during the period. Texas Permanent School Fund increased its stake in Tetra Tech by 0.6% during the 2nd quarter. Texas Permanent School Fund now owns 41,731 shares of the industrial products company’s stock worth $1,909,000 after buying an additional 233 shares during the period. Rathbone Brothers plc increased its stake in Tetra Tech by 0.9% during the 2nd quarter. Rathbone Brothers plc now owns 32,345 shares of the industrial products company’s stock worth $1,480,000 after buying an additional 300 shares during the period. Finally, Suntrust Banks Inc. increased its stake in Tetra Tech by 0.6% during the 2nd quarter. Suntrust Banks Inc. now owns 86,767 shares of the industrial products company’s stock worth $3,969,000 after buying an additional 551 shares during the period. 85.84% of the stock is currently owned by institutional investors.
Shares of Tetra Tech, Inc. (TTEK) traded down $0.35 during trading on Thursday, reaching $49.65. 133,800 shares of the company’s stock were exchanged, compared to its average volume of 344,292. The stock has a market cap of $2,786.13, a P/E ratio of 23.47, a P/E/G ratio of 1.60 and a beta of 1.08. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.97 and a current ratio of 1.94. Tetra Tech, Inc. has a 52 week low of $38.85 and a 52 week high of $50.15.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.81%. Tetra Tech’s dividend payout ratio is presently 19.61%.
In other news, EVP Ronald J. Chu sold 42,395 shares of the stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $50.00, for a total value of $2,119,750.00. Following the completion of the transaction, the executive vice president now owns 58,624 shares in the company, valued at approximately $2,931,200. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ronald J. Chu sold 14,112 shares of the stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $50.00, for a total transaction of $705,600.00. Following the completion of the transaction, the insider now owns 51,216 shares of the company’s stock, valued at approximately $2,560,800. The disclosure for this sale can be found here. Insiders sold a total of 57,203 shares of company stock valued at $2,860,150 in the last quarter. Insiders own 3.80% of the company’s stock.
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Several research analysts have commented on TTEK shares. Zacks Investment Research upgraded shares of Tetra Tech from a “sell” rating to a “hold” rating in a report on Friday, October 6th. Canaccord Genuity restated a “buy” rating and issued a $52.00 target price on shares of Tetra Tech in a report on Friday, August 4th. Robert W. Baird upped their target price on shares of Tetra Tech from $47.00 to $52.00 and gave the company a “neutral” rating in a report on Friday, November 10th. Boenning Scattergood restated a “buy” rating and issued a $54.00 target price on shares of Tetra Tech in a report on Thursday, November 9th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $47.00 target price on shares of Tetra Tech in a report on Thursday, September 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. Tetra Tech has a consensus rating of “Hold” and an average target price of $52.29.
Tetra Tech 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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