Wellington Management Group LLP Reduces Holdings in Tetra Tech, Inc. (NASDAQ:TTEK)

Wellington Management Group LLP reduced its position in Tetra Tech, Inc. (NASDAQ:TTEK) by 25.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 286,261 shares of the industrial products company’s stock after selling 97,979 shares during the period. Wellington Management Group LLP owned approximately 0.54% of Tetra Tech worth $47,786,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of TTEK. Contravisory Investment Management Inc. acquired a new stake in Tetra Tech during the 4th quarter valued at approximately $26,000. Jones Financial Companies Lllp bought a new stake in shares of Tetra Tech in the fourth quarter worth $33,000. Principal Securities Inc. acquired a new stake in Tetra Tech in the fourth quarter valued at $36,000. GAMMA Investing LLC bought a new position in Tetra Tech during the 4th quarter valued at $38,000. Finally, Creekmur Asset Management LLC acquired a new position in Tetra Tech during the 4th quarter worth $38,000. 93.89% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Leslie L. Shoemaker sold 11,161 shares of Tetra Tech stock in a transaction dated Thursday, June 13th. The shares were 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 directly owns 74,887 shares in the company, valued at $15,863,313.21. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.61% of the stock is currently owned by insiders.

Tetra Tech Stock Performance

TTEK stock opened at $211.00 on Friday. Tetra Tech, Inc. has a 1 year low of $143.35 and a 1 year high of $221.40. The stock has a market capitalization of $11.29 billion, a price-to-earnings ratio of 42.71 and a beta of 0.98. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.24 and a current ratio of 1.24. The stock’s fifty day moving average is $205.78 and its two-hundred day moving average is $185.02.

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

Tetra Tech Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Monday, May 20th were paid a dividend of $0.29 per share. The ex-dividend date was Friday, May 17th. This represents a $1.16 annualized dividend and a yield of 0.55%. This is an increase from Tetra Tech’s previous quarterly dividend of $0.26. Tetra Tech’s payout ratio is presently 23.48%.

Analysts Set New Price Targets

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

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.