Isthmus Partners LLC Purchases 253 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

Isthmus Partners LLC increased its position in Tetra Tech, Inc. (NASDAQ:TTEK) by 1.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,241 shares of the industrial products company’s stock after acquiring an additional 253 shares during the quarter. Isthmus Partners LLC’s holdings in Tetra Tech were worth $1,860,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in shares of Tetra Tech by 2.7% in the first quarter. BlackRock Inc. now owns 6,911,892 shares of the industrial products company’s stock valued at $938,081,000 after acquiring an additional 183,315 shares during the period. Alliancebernstein L.P. raised its stake in Tetra Tech by 7.2% in the second quarter. Alliancebernstein L.P. now owns 2,359,726 shares of the industrial products company’s stock valued at $287,981,000 after purchasing an additional 157,847 shares in the last quarter. Neuberger Berman Group LLC raised its stake in Tetra Tech by 6.3% in the first quarter. Neuberger Berman Group LLC now owns 1,994,955 shares of the industrial products company’s stock valued at $269,863,000 after purchasing an additional 117,699 shares in the last quarter. Geode Capital Management LLC raised its stake in Tetra Tech by 15.0% in the first quarter. Geode Capital Management LLC now owns 982,625 shares of the industrial products company’s stock valued at $133,361,000 after purchasing an additional 128,217 shares in the last quarter. Finally, Allianz Asset Management GmbH raised its stake in Tetra Tech by 18.1% in the first quarter. Allianz Asset Management GmbH now owns 732,285 shares of the industrial products company’s stock valued at $99,386,000 after purchasing an additional 112,346 shares in the last quarter. Institutional investors own 83.25% of the company’s stock.

In other news, Director J Christopher Lewis sold 850 shares of the business’s stock in a transaction on Monday, August 30th. The shares were sold at an average price of $143.11, for a total transaction of $121,643.50. Following the sale, the director now owns 68,626 shares in the company, valued at approximately $9,821,066.86. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Bernard Teufele sold 860 shares of the business’s stock in a transaction on Wednesday, August 11th. The shares were sold at an average price of $138.42, for a total transaction of $119,041.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,066 shares of company stock worth $2,395,443. 1.65% of the stock is owned by insiders.

Separately, Zacks Investment Research downgraded shares of Tetra Tech from a “buy” rating to a “hold” rating and set a $149.00 target price on the stock. in a research note on Friday, August 13th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $142.80.

Shares of TTEK stock traded down $1.09 during trading hours on Wednesday, hitting $146.11. 2,940 shares of the company’s stock were exchanged, compared to its average volume of 283,812. The company has a market capitalization of $7.90 billion, a PE ratio of 41.35, a PEG ratio of 2.64 and a beta of 0.82. Tetra Tech, Inc. has a 12-month low of $85.91 and a 12-month high of $152.23. The business’s 50 day simple moving average is $135.40 and its 200-day simple moving average is $130.23. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.20.

Tetra Tech (NASDAQ:TTEK) last issued its earnings results on Wednesday, July 28th. The industrial products company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.87 by $0.08. Tetra Tech had a net margin of 6.33% and a return on equity of 17.81%. The company had revenue of $638.04 million for the quarter, compared to the consensus estimate of $623.30 million. Equities analysts anticipate that Tetra Tech, Inc. will post 3.73 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 3rd. Investors of record on Friday, August 20th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.55%. The ex-dividend date was Thursday, August 19th. Tetra Tech’s payout ratio is 24.54%.

Tetra Tech Company Profile

Tetra Tech, Inc engages in the provision of consulting and engineering services. It operates through the following segments: Government Services Group (GSG); Commercial and International Services Group (CIG); and Remediation and Construction Management (RCM). The GSG segment offers consulting and engineering services primarily to United States government clients such as federal, state and local, and development agencies worldwide.

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Institutional Ownership by Quarter for Tetra Tech (NASDAQ:TTEK)

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