Renaissance Investment Group LLC Buys 13,145 Shares of Tetra Tech, Inc. $TTEK

Renaissance Investment Group LLC lifted its stake in Tetra Tech, Inc. (NASDAQ:TTEK) by 4.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 306,986 shares of the industrial products company’s stock after purchasing an additional 13,145 shares during the quarter. Tetra Tech comprises about 2.1% of Renaissance Investment Group LLC’s holdings, making the stock its 23rd largest holding. Renaissance Investment Group LLC owned 0.12% of Tetra Tech worth $10,115,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Energy Income Partners LLC acquired a new position in Tetra Tech during the second quarter worth $68,512,000. Bank of America Corp DE acquired a new stake in shares of Tetra Tech in the 2nd quarter worth $57,135,000. Corient Private Wealth LP purchased a new position in shares of Tetra Tech during the 2nd quarter worth $44,964,000. Neumeier Poma Investment Counsel LLC purchased a new position in shares of Tetra Tech during the 2nd quarter worth $43,750,380. Finally, Legal & General Group Plc acquired a new position in shares of Tetra Tech during the 2nd quarter valued at about $27,327,000. Institutional investors and hedge funds own 93.89% of the company’s stock.

Tetra Tech Price Performance

NASDAQ:TTEK opened at $38.65 on Friday. Tetra Tech, Inc. has a 52 week low of $25.81 and a 52 week high of $43.14. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $9.90 billion, a P/E ratio of 24.42 and a beta of 0.95. The stock’s fifty day moving average is $35.38 and its two-hundred day moving average is $33.12.

Tetra Tech (NASDAQ:TTEK) last announced its quarterly earnings results on Wednesday, July 29th. The industrial products company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.40 by $0.02. The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.08 billion. Tetra Tech had a return on equity of 22.32% and a net margin of 8.60%. The company’s quarterly revenue was down 4.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.43 EPS. Equities analysts expect that Tetra Tech, Inc. will post 1.58 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. National Bank Financial dropped their price objective on shares of Tetra Tech from $38.00 to $35.00 and set an “outperform” rating for the company in a report on Monday, July 13th. Wall Street Zen cut shares of Tetra Tech from a “buy” rating to a “hold” rating in a research report on Saturday, October 17th. Royal Bank Of Canada reduced their target price on shares of Tetra Tech from $46.00 to $44.00 and set an “outperform” rating on the stock in a research note on Thursday, October 15th. Weiss Ratings upgraded shares of Tetra Tech from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday. Finally, KeyCorp reiterated an “overweight” rating and issued a $41.00 target price (down from $43.00) on shares of Tetra Tech in a report on Thursday, October 15th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Tetra Tech presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.00.

Tetra Tech Profile

Tetra Tech, Inc (NASDAQ:TTEK) is a consulting and engineering services company that helps government and commercial clients address complex challenges involving water, environmental resources, infrastructure and energy. Its work includes planning, design, engineering, program management, construction management and technical consulting.

The company provides services related to water supply and treatment, environmental remediation, climate and disaster resilience, sustainable infrastructure, energy development, high-performance buildings and natural resource management.