Huntington National Bank Lowers Stock Holdings in Tetra Tech, Inc. (NASDAQ:TTEK)

Huntington National Bank cut its position in shares of Tetra Tech, Inc. (NASDAQ:TTEKFree Report) by 20.0% in the third quarter, Holdings Channel.com reports. The firm owned 871 shares of the industrial products company’s stock after selling 218 shares during the quarter. Huntington National Bank’s holdings in Tetra Tech were worth $132,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in Tetra Tech in the 2nd quarter valued at about $29,000. ST Germain D J Co. Inc. purchased a new stake in Tetra Tech in the 2nd quarter valued at about $38,000. Farther Finance Advisors LLC boosted its position in Tetra Tech by 79.9% in the 2nd quarter. Farther Finance Advisors LLC now owns 241 shares of the industrial products company’s stock valued at $39,000 after buying an additional 107 shares during the period. Meeder Asset Management Inc. boosted its position in Tetra Tech by 165.9% in the 4th quarter. Meeder Asset Management Inc. now owns 242 shares of the industrial products company’s stock valued at $35,000 after buying an additional 151 shares during the period. Finally, Millburn Ridgefield Corp purchased a new stake in Tetra Tech in the 3rd quarter valued at about $37,000. 87.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TTEK has been the subject of several research reports. KeyCorp initiated coverage on shares of Tetra Tech in a research report on Wednesday, January 10th. They issued an “overweight” rating and a $191.00 price objective for the company. Royal Bank of Canada increased their price objective on shares of Tetra Tech from $192.00 to $203.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Finally, Robert W. Baird increased their price objective on shares of Tetra Tech from $172.00 to $180.00 and gave the company a “neutral” rating in a research note on Thursday, November 16th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Tetra Tech has an average rating of “Moderate Buy” and an average price target of $197.25.

Check Out Our Latest Research Report on TTEK

Insider Activity at Tetra Tech

In related news, Director J Kenneth Thompson sold 8,400 shares of the stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $165.00, for a total transaction of $1,386,000.00. Following the completion of the sale, the director now owns 14,485 shares of the company’s stock, valued at $2,390,025. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Tetra Tech news, Director J Kenneth Thompson sold 8,400 shares of the firm’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $165.00, for a total value of $1,386,000.00. Following the completion of the transaction, the director now owns 14,485 shares of the company’s stock, valued at $2,390,025. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Brian N. Carter sold 1,474 shares of the firm’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $165.58, for a total transaction of $244,064.92. Following the completion of the transaction, the senior vice president now directly owns 8,360 shares of the company’s stock, valued at approximately $1,384,248.80. The disclosure for this sale can be found here. Insiders sold 47,760 shares of company stock valued at $7,794,178 over the last 90 days. Insiders own 0.61% of the company’s stock.

Tetra Tech Price Performance

NASDAQ TTEK opened at $178.08 on Monday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.25 and a current ratio of 1.25. The firm’s 50 day moving average price is $165.34 and its 200-day moving average price is $161.11. Tetra Tech, Inc. has a 52-week low of $131.19 and a 52-week high of $178.65. The company has a market cap of $9.47 billion, a PE ratio of 41.22 and a beta of 0.95.

Tetra Tech (NASDAQ:TTEKGet Free Report) last posted its earnings results on Wednesday, January 31st. The industrial products company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.05. Tetra Tech had a net margin of 4.77% and a return on equity of 21.05%. The company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $974.00 million. During the same quarter in the prior year, the company posted $1.34 earnings per share. Sell-side analysts forecast that Tetra Tech, Inc. will post 6.07 EPS for the current fiscal year.

Tetra Tech Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 27th. Investors of record on Wednesday, February 14th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Tuesday, February 13th. This represents a $1.04 dividend on an annualized basis and a yield of 0.58%. Tetra Tech’s payout ratio is 24.07%.

Tetra Tech Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding TTEK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tetra Tech, Inc. (NASDAQ:TTEKFree Report).

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

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