Tetra Tech, Inc. (TTEK) Position Lowered by Catalyst Capital Advisors LLC
Catalyst Capital Advisors LLC cut its position in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 4.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 44,225 shares of the industrial products company’s stock after selling 2,000 shares during the period. Catalyst Capital Advisors LLC’s holdings in Tetra Tech were worth $2,130,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the stock. KBC Group NV boosted its stake in shares of Tetra Tech by 21.6% during the 4th quarter. KBC Group NV now owns 290,258 shares of the industrial products company’s stock worth $13,976,000 after purchasing an additional 51,505 shares during the period. Teacher Retirement System of Texas boosted its stake in shares of Tetra Tech by 314.5% during the 4th quarter. Teacher Retirement System of Texas now owns 19,507 shares of the industrial products company’s stock worth $939,000 after purchasing an additional 14,801 shares during the period. First National Bank of Omaha boosted its stake in shares of Tetra Tech by 15.2% during the 4th quarter. First National Bank of Omaha now owns 34,001 shares of the industrial products company’s stock worth $1,637,000 after purchasing an additional 4,475 shares during the period. CIBC Asset Management Inc purchased a new position in shares of Tetra Tech during the 4th quarter worth about $205,000. Finally, Rockefeller Financial Services Inc. boosted its stake in shares of Tetra Tech by 136.6% during the 4th quarter. Rockefeller Financial Services Inc. now owns 50,850 shares of the industrial products company’s stock worth $2,448,000 after purchasing an additional 29,355 shares during the period. 85.02% of the stock is owned by hedge funds and other institutional investors.
In other Tetra Tech news, Chairman Dan L. Batrack sold 62,417 shares of the business’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $48.47, for a total value of $3,025,351.99. Following the completion of the sale, the chairman now directly owns 318,994 shares of the company’s stock, valued at approximately $15,461,639.18. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Roger R. Argus sold 1,138 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $49.63, for a total transaction of $56,478.94. Following the completion of the sale, the senior vice president now owns 6,948 shares of the company’s stock, valued at approximately $344,829.24. The disclosure for this sale can be found here. Over the last three months, insiders sold 199,566 shares of company stock valued at $9,751,615. 3.40% of the stock is owned by corporate insiders.
Tetra Tech (NASDAQ:TTEK) last released its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.12. The company had revenue of $544.85 million during the quarter, compared to analysts’ expectations of $510.22 million. Tetra Tech had a net margin of 4.83% and a return on equity of 14.26%. The firm’s quarterly revenue was up 11.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.49 EPS. equities research analysts anticipate that Tetra Tech, Inc. will post 2.55 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 2nd. Shareholders of record on Wednesday, February 14th will be given a $0.10 dividend. The ex-dividend date is Tuesday, February 13th. This represents a $0.40 annualized dividend and a yield of 0.85%. Tetra Tech’s dividend payout ratio (DPR) is 16.67%.
A number of equities analysts recently commented on TTEK shares. ValuEngine cut shares of Tetra Tech from a “buy” rating to a “hold” rating in a research note on Wednesday, December 20th. BidaskClub cut shares of Tetra Tech from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 9th. Zacks Investment Research cut shares of Tetra Tech from a “hold” rating to a “sell” rating in a research report on Friday, November 10th. Boenning Scattergood reissued a “buy” rating and issued a $54.00 price objective on shares of Tetra Tech in a research report on Thursday, November 9th. Finally, Robert W. Baird boosted their price objective on shares of Tetra Tech from $47.00 to $52.00 and gave the company a “neutral” rating in a research report on Friday, November 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $54.57.
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About Tetra Tech
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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