Nationwide Fund Advisors lowered its position in Tetra Tech Inc. (NASDAQ:TTEK) by 1.4% during the second quarter, Holdings Channel reports. The institutional investor owned 50,886 shares of the company’s stock after selling 730 shares during the period. Nationwide Fund Advisors owned approximately 0.09% of Tetra Tech worth $1,564,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. JPMorgan Chase & Co. raised its position in shares of Tetra Tech by 19.7% in the second quarter. JPMorgan Chase & Co. now owns 270,295 shares of the company’s stock worth $8,309,000 after buying an additional 44,557 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of Tetra Tech by 31.4% in the second quarter. Ameriprise Financial Inc. now owns 633,467 shares of the company’s stock worth $19,476,000 after buying an additional 151,311 shares in the last quarter. LSV Asset Management raised its position in shares of Tetra Tech by 270.4% in the second quarter. LSV Asset Management now owns 1,749,850 shares of the company’s stock worth $53,799,000 after buying an additional 1,277,487 shares in the last quarter. RobecoSam USA Inc. raised its position in shares of Tetra Tech by 2.5% in the second quarter. RobecoSam USA Inc. now owns 70,264 shares of the company’s stock worth $2,161,000 after buying an additional 1,708 shares in the last quarter. Finally, Boston Partners raised its position in shares of Tetra Tech by 4.8% in the second quarter. Boston Partners now owns 1,032,661 shares of the company’s stock worth $31,749,000 after buying an additional 47,559 shares in the last quarter. 89.10% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Tetra Tech Inc. (NASDAQ:TTEK) opened at 37.25 on Tuesday. The firm has a market cap of $2.14 billion, a price-to-earnings ratio of 104.63 and a beta of 1.21. Tetra Tech Inc. has a 1-year low of $22.85 and a 1-year high of $37.45. The company’s 50 day moving average price is $35.67 and its 200-day moving average price is $32.22.
Tetra Tech (NASDAQ:TTEK) last announced its earnings results on Wednesday, July 27th. The company reported $0.50 earnings per share for the quarter, meeting the consensus estimate of $0.50. The firm had revenue of $667 million for the quarter, compared to the consensus estimate of $498.79 million. Tetra Tech had a return on equity of 12.31% and a net margin of 0.86%. The firm’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.43 EPS. Equities analysts expect that Tetra Tech Inc. will post $1.88 EPS for the current fiscal year.
Several analysts have weighed in on the company. Boenning Scattergood reissued an “outperform” rating on shares of Tetra Tech in a report on Friday, October 7th. Zacks Investment Research raised Tetra Tech from a “hold” rating to a “buy” rating and set a $39.00 target price on the stock in a report on Tuesday, October 4th. Canaccord Genuity reissued a “buy” rating and issued a $37.00 target price on shares of Tetra Tech in a report on Friday, July 29th. Finally, FBR & Co upped their target price on Tetra Tech from $32.00 to $36.00 and gave the company a “market perform” rating in a report on Friday, July 29th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Tetra Tech has a consensus rating of “Buy” and a consensus price target of $34.40.
In other Tetra Tech news, EVP Ronald J. Chu sold 29,413 shares of Tetra Tech stock in a transaction on Thursday, July 21st. The stock was sold at an average price of $32.00, for a total transaction of $941,216.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director J Kenneth Thompson sold 8,000 shares of Tetra Tech stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $32.75, for a total value of $262,000.00. Following the sale, the director now directly owns 20,930 shares in the company, valued at approximately $685,457.50. The disclosure for this sale can be found here. Company 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.