Harvest Fund Management Co. Ltd Reduces Stock Position in Tetra Tech, Inc. (NASDAQ:TTEK)

Harvest Fund Management Co. Ltd lessened its position in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 77.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 186 shares of the industrial products company’s stock after selling 633 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Tetra Tech were worth $31,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Contravisory Investment Management Inc. purchased a new stake in Tetra Tech during the 4th quarter valued at about $26,000. GAMMA Investing LLC purchased a new stake in shares of Tetra Tech in the fourth quarter worth about $38,000. Millburn Ridgefield Corp purchased a new stake in shares of Tetra Tech in the third quarter worth about $37,000. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Tetra Tech in the fourth quarter worth about $89,000. Finally, Fifth Third Bancorp boosted its stake 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 buying an additional 202 shares during the last quarter. Hedge funds and other institutional investors own 93.89% of the company’s stock.

Insider Buying and Selling at Tetra Tech

In other Tetra Tech news, Director J Kenneth Thompson sold 8,400 shares of the stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $165.00, for a total transaction of $1,386,000.00. Following the completion of the transaction, the director now owns 14,485 shares of the company’s stock, valued at $2,390,025. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Tetra Tech news, CFO Steven M. Burdick sold 7,515 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now 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 Securities & Exchange Commission, which is available through this hyperlink. Also, Director J Kenneth Thompson sold 8,400 shares of the stock in a transaction that occurred on 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 transaction, the director now directly owns 14,485 shares of the company’s stock, valued at approximately $2,390,025. The disclosure for this sale can be found here. Insiders sold 32,123 shares of company stock valued at $5,487,673 over the last quarter. 0.61% of the stock is currently owned by insiders.

Tetra Tech Stock Performance

NASDAQ TTEK opened at $192.50 on Friday. The stock has a market capitalization of $10.30 billion, a price-to-earnings 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 company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.61. The stock has a 50-day moving average of $184.29 and a 200 day moving average of $170.13.

Tetra Tech (NASDAQ:TTEK) last released its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.05. The company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $974.00 million. Tetra Tech had a return on equity of 21.05% and a net margin of 4.77%. During the same quarter in the prior year, the firm posted $1.34 EPS. Sell-side analysts anticipate that Tetra Tech, Inc. will post 6.07 EPS for the current fiscal year.

Tetra Tech Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages have recently commented on TTEK. Royal Bank of Canada upped their target price on Tetra Tech from $192.00 to $203.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. KeyCorp began coverage on Tetra Tech in a research note on Wednesday, January 10th. They issued an “overweight” rating and a $191.00 target price on the stock. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Tetra Tech has a consensus rating of “Moderate Buy” and an average target price of $197.25.

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.