Renaissance Technologies LLC Increases Stake in Tetra Tech, Inc. (TTEK)

Renaissance Technologies LLC increased its position in Tetra Tech, Inc. (NASDAQ:TTEK) by 120.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 242,720 shares of the industrial products company’s stock after buying an additional 132,620 shares during the period. Renaissance Technologies LLC owned approximately 0.42% of Tetra Tech worth $9,915,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Teachers Advisors LLC boosted its stake in shares of Tetra Tech by 2.3% in the fourth quarter. Teachers Advisors LLC now owns 105,706 shares of the industrial products company’s stock valued at $4,561,000 after buying an additional 2,399 shares during the period. Highbridge Capital Management LLC acquired a new stake in shares of Tetra Tech during the fourth quarter valued at approximately $412,000. Philadelphia Trust Co. boosted its stake in shares of Tetra Tech by 2.4% in the fourth quarter. Philadelphia Trust Co. now owns 38,104 shares of the industrial products company’s stock valued at $1,644,000 after buying an additional 900 shares during the period. Macquarie Group Ltd. boosted its stake in shares of Tetra Tech by 17.0% in the fourth quarter. Macquarie Group Ltd. now owns 1,198,396 shares of the industrial products company’s stock valued at $51,711,000 after buying an additional 174,539 shares during the period. Finally, Rathbone Brothers plc boosted its stake in shares of Tetra Tech by 9.9% in the first quarter. Rathbone Brothers plc now owns 32,045 shares of the industrial products company’s stock valued at $1,309,000 after buying an additional 2,875 shares during the period. 84.96% of the stock is owned by hedge funds and other institutional investors.

Shares of Tetra Tech, Inc. (TTEK) opened at 42.95 on Wednesday. The company’s 50 day moving average is $46.02 and its 200 day moving average is $43.57. Tetra Tech, Inc. has a 52-week low of $33.34 and a 52-week high of $48.35. The firm has a market cap of $2.45 billion, a price-to-earnings ratio of 22.66 and a beta of 1.03.

Tetra Tech (NASDAQ:TTEK) last posted its earnings results on Wednesday, August 2nd. The industrial products company reported $0.53 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.54 by $0.01. The firm had revenue of $498.47 million for the quarter, compared to the consensus estimate of $535.18 million. Tetra Tech had a return on equity of 13.65% and a net margin of 4.17%. The business’s revenue was up .0% on a year-over-year basis. During the same period last year, the company posted $0.50 EPS. Analysts anticipate that Tetra Tech, Inc. will post $2.17 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Thursday, August 17th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date is Tuesday, August 15th. Tetra Tech’s dividend payout ratio (DPR) is presently 20.30%.

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Several equities research analysts have commented on the stock. Roth Capital set a $52.00 price target on shares of Tetra Tech and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Zacks Investment Research raised shares of Tetra Tech from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a report on Tuesday, July 4th. Canaccord Genuity reaffirmed a “buy” rating and issued a $52.00 target price on shares of Tetra Tech in a report on Wednesday, June 7th. Sidoti reaffirmed a “buy” rating and issued a $58.00 target price (up from $55.00) on shares of Tetra Tech in a report on Sunday, May 14th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $50.00 target price on shares of Tetra Tech in a report on Friday, July 7th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $49.75.

In related news, CFO Steven M. Burdick sold 16,750 shares of the company’s stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $44.87, for a total transaction of $751,572.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 4.00% of the company’s stock.

About Tetra Tech

Tetra Tech, Inc is a provider of consulting, engineering, program management, construction management, and technical services. The Company’s segments include Water, Environment and Infrastructure (WEI), Resource Management and Energy (RME), and Remediation and Construction Management (RCM). The WEI segment provides consulting and engineering services.

Institutional Ownership by Quarter for Tetra Tech (NASDAQ:TTEK)

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