Bahl & Gaynor Inc. Raises Holdings in Tetra Tech, Inc. (NASDAQ:TTEK)

Bahl & Gaynor Inc. raised its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 1.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 38,346 shares of the industrial products company’s stock after buying an additional 481 shares during the quarter. Bahl & Gaynor Inc. owned about 0.07% of Tetra Tech worth $6,401,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Contravisory Investment Management Inc. acquired a new stake in Tetra Tech during the fourth quarter worth approximately $26,000. Millburn Ridgefield Corp acquired a new position in Tetra Tech in the third quarter valued at $37,000. GAMMA Investing LLC acquired a new stake in Tetra Tech in the 4th quarter worth about $38,000. McGlone Suttner Wealth Management Inc. acquired a new position in shares of Tetra Tech during the 4th quarter valued at about $89,000. Finally, Fifth Third Bancorp boosted its position in shares of Tetra Tech by 39.1% in the third quarter. Fifth Third Bancorp now owns 718 shares of the industrial products company’s stock worth $109,000 after acquiring an additional 202 shares during the last quarter. 93.89% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Royal Bank of Canada lifted their price target on shares of Tetra Tech from $192.00 to $203.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. KeyCorp began coverage on Tetra Tech in a research note on Wednesday, January 10th. They set an “overweight” rating and a $191.00 price target for the company. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $197.25.

Insider Transactions at Tetra Tech

In other news, CFO Steven M. Burdick sold 7,128 shares of the company’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $165.01, for a total value of $1,176,191.28. Following the sale, the chief financial officer now owns 37,405 shares in the company, valued at approximately $6,172,199.05. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director J Kenneth Thompson sold 8,400 shares of Tetra Tech stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $165.00, for a total value of $1,386,000.00. Following the completion of the transaction, the director now directly owns 14,485 shares of the company’s stock, valued at approximately $2,390,025. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Steven M. Burdick sold 7,128 shares of the stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $165.01, for a total transaction of $1,176,191.28. Following the sale, the chief financial officer now owns 37,405 shares in the company, valued at approximately $6,172,199.05. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,123 shares of company stock valued at $5,487,673. 0.61% of the stock is currently owned by corporate insiders.

Tetra Tech Stock Down 0.2 %

Shares of TTEK stock traded down $0.42 during trading hours on Friday, reaching $192.50. The company had a trading volume of 225,075 shares, compared to its average volume of 260,473. The company has a market capitalization of $10.30 billion, a P/E ratio of 44.56 and a beta of 0.96. Tetra Tech, Inc. has a twelve month low of $132.29 and a twelve month high of $194.99. The stock’s fifty day simple moving average is $184.29 and its 200 day simple moving average is $170.13. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.25 and a current ratio of 1.25.

Tetra Tech (NASDAQ:TTEK) last announced its earnings results on Wednesday, January 31st. The industrial products company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.05. Tetra Tech had a net margin of 4.77% and a return on equity of 21.05%. The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $974.00 million. During the same period in the prior year, the firm earned $1.34 earnings per share. As a group, sell-side analysts expect that Tetra Tech, Inc. will post 6.07 earnings per share for the current fiscal year.

Tetra Tech Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 27th. Shareholders of record on Wednesday, February 14th were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend was Tuesday, February 13th. Tetra Tech’s payout ratio is 24.07%.

About Tetra Tech

Tetra Tech, Inc provides consulting and engineering services in the United States and internationally. The company operates through two segments, Government Services Group (GSG) and Commercial/International Services Group (CIG). The GSG segment offers early data collection and monitoring, data analysis and information management, science and engineering applied research, engineering design, project management, and operations and maintenance services; and climate change and energy management consulting, as well as greenhouse gas inventory assessment, certification, reduction, and management services.