Goldman Sachs Group Inc. Lowers Stake in Tetra Tech, Inc. (NASDAQ:TTEK)

Goldman Sachs Group Inc. cut its stake in Tetra Tech, Inc. (NASDAQ:TTEK) by 8.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 302,592 shares of the industrial products company’s stock after selling 29,356 shares during the period. Goldman Sachs Group Inc. owned about 0.57% of Tetra Tech worth $50,512,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in TTEK. Contravisory Investment Management Inc. purchased a new position in shares of Tetra Tech in the 4th quarter worth about $26,000. Jones Financial Companies Lllp bought a new position in Tetra Tech during the fourth quarter valued at approximately $33,000. Principal Securities Inc. purchased a new position in shares of Tetra Tech during the fourth quarter worth approximately $36,000. GAMMA Investing LLC bought a new stake in shares of Tetra Tech in the 4th quarter worth approximately $38,000. Finally, SRS Capital Advisors Inc. boosted its stake in shares of 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 purchasing an additional 177 shares in the last quarter. Institutional investors own 93.89% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Leslie L. Shoemaker sold 11,161 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $211.83, for a total value of $2,364,234.63. Following the completion of the sale, the executive vice president now directly owns 74,887 shares of the company’s stock, valued at approximately $15,863,313.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.61% of the company’s stock.

Tetra Tech Trading Up 0.0 %

NASDAQ:TTEK opened at $207.69 on Thursday. The business has a fifty day moving average price of $205.10 and a 200-day moving average price of $184.38. Tetra Tech, Inc. has a one year low of $143.35 and a one year high of $221.40. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market capitalization of $11.11 billion, a price-to-earnings ratio of 42.04 and a beta of 0.98.

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

Tetra Tech Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Monday, May 20th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, May 17th. This represents a $1.16 annualized dividend and a yield of 0.56%. This is a positive change from Tetra Tech’s previous quarterly dividend of $0.26. Tetra Tech’s dividend payout ratio (DPR) is 23.48%.

Analyst Ratings Changes

Several research firms have weighed in on TTEK. KeyCorp boosted their price target on shares of Tetra Tech from $231.00 to $234.00 and gave the stock an “overweight” rating in a research note on Thursday, May 23rd. Robert W. Baird boosted their target price on Tetra Tech from $200.00 to $223.00 and gave the company a “neutral” rating in a research note on Wednesday, May 15th. Northcoast Research upgraded Tetra Tech from a “neutral” rating to a “buy” rating and set a $225.00 price target on the stock in a research report on Thursday, May 2nd. Royal Bank of Canada boosted their price objective on Tetra Tech from $203.00 to $233.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Finally, Maxim Group raised their target price on shares of Tetra Tech from $234.00 to $268.00 and gave the stock a “buy” rating in a report on Thursday, May 16th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $236.60.

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.