Cullen Frost Bankers Inc. Grows Stock Position in Tetra Tech, Inc. (NASDAQ:TTEK)

Cullen Frost Bankers Inc. increased its position in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 1,451.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,784 shares of the industrial products company’s stock after buying an additional 1,669 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Tetra Tech were worth $71,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. New England Research & Management Inc. purchased a new stake in shares of Tetra Tech during the 4th quarter valued at approximately $596,000. Nicola Wealth Management LTD. raised its position in shares of Tetra Tech by 36.8% during the 4th quarter. Nicola Wealth Management LTD. now owns 65,000 shares of the industrial products company’s stock valued at $2,590,000 after buying an additional 17,500 shares during the period. Lecap Asset Management Ltd. raised its position in shares of Tetra Tech by 71.3% during the 4th quarter. Lecap Asset Management Ltd. now owns 44,769 shares of the industrial products company’s stock valued at $1,784,000 after buying an additional 18,635 shares during the period. Y Intercept Hong Kong Ltd raised its position in shares of Tetra Tech by 53.3% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 39,150 shares of the industrial products company’s stock valued at $1,560,000 after buying an additional 13,606 shares during the period. Finally, Perpetual Ltd raised its position in shares of Tetra Tech by 9.6% during the 4th quarter. Perpetual Ltd now owns 215,042 shares of the industrial products company’s stock valued at $8,567,000 after buying an additional 18,842 shares during the period. Hedge funds and other institutional investors own 93.89% of the company’s stock.

Tetra Tech Stock Performance

NASDAQ:TTEK opened at $30.02 on Monday. The company has a fifty day simple moving average of $35.52 and a two-hundred day simple moving average of $42.03. The company has a market cap of $8.05 billion, a price-to-earnings ratio of 31.53 and a beta of 0.93. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.53. Tetra Tech, Inc. has a 52 week low of $28.17 and a 52 week high of $51.20.

Tetra Tech (NASDAQ:TTEK) last posted its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.34 by $0.01. Tetra Tech had a net margin of 4.81% and a return on equity of 22.58%. As a group, equities analysts anticipate that Tetra Tech, Inc. will post 1.37 earnings per share for the current fiscal year.

Tetra Tech Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were paid a dividend of $0.058 per share. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $0.23 dividend on an annualized basis and a dividend yield of 0.77%. Tetra Tech’s payout ratio is currently 24.21%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Royal Bank of Canada set a $49.00 price target on shares of Tetra Tech in a research report on Friday, January 31st. Maxim Group lowered Tetra Tech from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. KeyCorp cut their target price on Tetra Tech from $49.00 to $45.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. StockNews.com lowered Tetra Tech from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Finally, Robert W. Baird boosted their target price on Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.92.

Insider Buying and Selling

In related news, Director Kirsten M. Volpi sold 10,116 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $34.33, for a total transaction of $347,282.28. Following the completion of the transaction, the director now owns 60,196 shares in the company, valued at approximately $2,066,528.68. The trade was a 14.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.40% of the company’s stock.

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.