TimesSquare Capital Management LLC Sells 19,120 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

TimesSquare Capital Management LLC cut its position in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 8.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 217,230 shares of the industrial products company’s stock after selling 19,120 shares during the period. TimesSquare Capital Management LLC owned about 0.41% of Tetra Tech worth $36,262,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of TTEK. Contravisory Investment Management Inc. acquired a new stake in Tetra Tech during the fourth quarter valued at approximately $26,000. SRS Capital Advisors Inc. boosted its stake in Tetra Tech by 305.2% in the 4th quarter. SRS Capital Advisors Inc. now owns 235 shares of the industrial products company’s stock valued at $39,000 after buying an additional 177 shares in the last quarter. GAMMA Investing LLC bought a new stake in Tetra Tech in the fourth quarter valued at $38,000. Millburn Ridgefield Corp acquired a new position in Tetra Tech during the third quarter worth $37,000. Finally, McGlone Suttner Wealth Management Inc. bought a new position in shares of Tetra Tech during the fourth quarter valued at $89,000. 93.89% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Steven M. Burdick sold 7,515 shares of Tetra Tech stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $175.67, for a total transaction of $1,320,160.05. Following the completion of the sale, the chief financial officer now directly owns 29,890 shares of the company’s stock, valued at $5,250,776.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Tetra Tech news, SVP Brian N. Carter sold 5,580 shares of the stock in a transaction on Friday, February 9th. The shares were sold at an average price of $176.52, for a total value of $984,981.60. Following the sale, the senior vice president now directly owns 8,360 shares in the company, valued at $1,475,707.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Steven M. Burdick sold 7,515 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $175.67, for a total transaction of $1,320,160.05. Following the completion of the transaction, the chief financial officer now directly owns 29,890 shares of the company’s stock, valued at approximately $5,250,776.30. The disclosure for this sale can be found here. Insiders have sold a total of 16,595 shares of company stock valued at $2,925,482 in the last 90 days. 0.61% of the stock is owned by company insiders.

Tetra Tech Trading Down 0.5 %

TTEK stock traded down $1.00 during trading on Wednesday, hitting $211.88. The company had a trading volume of 260,815 shares, compared to its average volume of 272,629. The firm has a 50-day moving average price of $188.80 and a 200-day moving average price of $172.78. Tetra Tech, Inc. has a 12 month low of $132.29 and a 12 month high of $216.24. The company has a quick ratio of 1.25, a current ratio of 1.24 and a debt-to-equity ratio of 0.60. The stock has a market cap of $11.33 billion, a price-to-earnings ratio of 42.89 and a beta of 0.93.

Tetra Tech (NASDAQ:TTEK) last issued its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.13. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. Tetra Tech had a return on equity of 21.16% and a net margin of 5.36%. The firm’s revenue for the quarter was down 9.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.17 earnings per share. As a group, analysts predict that Tetra Tech, Inc. will post 6.2 earnings per share for the current year.

Tetra Tech Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Monday, May 20th will be given a dividend of $0.29 per share. This is a boost from Tetra Tech’s previous quarterly dividend of $0.26. The ex-dividend date is Friday, May 17th. This represents a $1.16 annualized dividend and a dividend yield of 0.55%. Tetra Tech’s payout ratio is presently 23.48%.

Wall Street Analysts Forecast Growth

TTEK has been the topic of several analyst reports. Robert W. Baird increased their target price on shares of Tetra Tech from $180.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Maxim Group raised their price objective on shares of Tetra Tech from $220.00 to $230.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. StockNews.com raised Tetra Tech from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. KeyCorp raised their price target on Tetra Tech from $209.00 to $219.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. Finally, Royal Bank of Canada boosted their price objective on Tetra Tech from $203.00 to $233.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $221.40.

Tetra Tech Profile

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.