Tetra Tech, Inc. (NASDAQ:TTEK) Shares Sold by Ledyard National Bank

Ledyard National Bank reduced its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 6.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,072 shares of the industrial products company’s stock after selling 262 shares during the quarter. Ledyard National Bank’s holdings in Tetra Tech were worth $752,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the business. D Orazio & Associates Inc. lifted its holdings in shares of Tetra Tech by 26.9% in the 1st quarter. D Orazio & Associates Inc. now owns 16,338 shares of the industrial products company’s stock valued at $3,018,000 after purchasing an additional 3,462 shares during the last quarter. Bleakley Financial Group LLC lifted its holdings in shares of Tetra Tech by 2.2% in the 1st quarter. Bleakley Financial Group LLC now owns 23,925 shares of the industrial products company’s stock valued at $4,419,000 after purchasing an additional 507 shares during the last quarter. US Bancorp DE lifted its holdings in shares of Tetra Tech by 43.3% in the 1st quarter. US Bancorp DE now owns 3,270 shares of the industrial products company’s stock valued at $604,000 after purchasing an additional 988 shares during the last quarter. Isthmus Partners LLC lifted its holdings in shares of Tetra Tech by 33.0% in the 1st quarter. Isthmus Partners LLC now owns 24,515 shares of the industrial products company’s stock valued at $4,528,000 after purchasing an additional 6,077 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new stake in shares of Tetra Tech in the 1st quarter valued at about $280,000. 93.89% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Tetra Tech

In other Tetra Tech news, EVP Leslie L. Shoemaker sold 11,161 shares of the stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $211.83, for a total transaction of $2,364,234.63. Following the sale, the executive vice president now owns 74,887 shares in the company, valued at approximately $15,863,313.21. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.61% of the stock is owned by insiders.

Analysts Set New Price Targets

TTEK has been the subject of several research reports. KeyCorp boosted their target price on Tetra Tech from $231.00 to $234.00 and gave the company an “overweight” rating in a report on Thursday, May 23rd. Robert W. Baird upped their price objective on Tetra Tech from $200.00 to $223.00 and gave the company a “neutral” rating in a research note on Wednesday, May 15th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $233.00 price objective on shares of Tetra Tech in a research note on Tuesday, July 9th. StockNews.com raised Tetra Tech from a “hold” rating to a “buy” rating in a research note on Thursday, July 11th. Finally, Maxim Group upped their price objective on Tetra Tech from $234.00 to $268.00 and gave the company a “buy” rating in a research note on Thursday, May 16th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Tetra Tech has a consensus rating of “Moderate Buy” and a consensus price target of $236.60.

Tetra Tech Price Performance

Shares of TTEK traded up $3.36 on Thursday, reaching $204.30. The stock had a trading volume of 263,326 shares, compared to its average volume of 276,482. The firm has a market capitalization of $10.93 billion, a PE ratio of 41.36 and a beta of 0.93. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.60. The firm has a 50-day moving average of $209.04 and a 200 day moving average of $190.03. Tetra Tech, Inc. has a twelve month low of $143.35 and a twelve month high of $221.40.

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

Tetra Tech Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Monday, May 20th were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date was Friday, May 17th. This is a boost from Tetra Tech’s previous quarterly dividend of $0.26. Tetra Tech’s dividend payout ratio is 23.48%.

Tetra Tech Company 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.