Truist Financial Corp Cuts Stake in Tetra Tech, Inc. (NASDAQ:TTEK)

Truist Financial Corp trimmed its position in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 2.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 35,013 shares of the industrial products company’s stock after selling 780 shares during the quarter. Truist Financial Corp’s holdings in Tetra Tech were worth $1,395,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of TTEK. Geode Capital Management LLC grew its position in Tetra Tech by 406.6% during the 3rd quarter. Geode Capital Management LLC now owns 4,716,080 shares of the industrial products company’s stock valued at $222,466,000 after purchasing an additional 3,785,189 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Tetra Tech by 357.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,070,483 shares of the industrial products company’s stock valued at $97,644,000 after purchasing an additional 1,618,211 shares during the last quarter. Premier Fund Managers Ltd grew its position in Tetra Tech by 400.0% during the 3rd quarter. Premier Fund Managers Ltd now owns 1,500,000 shares of the industrial products company’s stock valued at $69,615,000 after purchasing an additional 1,200,000 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc grew its position in Tetra Tech by 337.0% during the 3rd quarter. AEGON ASSET MANAGEMENT UK Plc now owns 1,466,385 shares of the industrial products company’s stock valued at $69,081,000 after purchasing an additional 1,130,842 shares during the last quarter. Finally, WCM Investment Management LLC grew its position in Tetra Tech by 316.9% during the 3rd quarter. WCM Investment Management LLC now owns 1,431,099 shares of the industrial products company’s stock valued at $66,403,000 after purchasing an additional 1,087,819 shares during the last quarter. 93.89% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Tetra Tech

In other Tetra Tech news, Director Kirsten M. Volpi sold 10,116 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $34.33, for a total transaction of $347,282.28. Following the sale, the director now owns 60,196 shares in the company, valued at approximately $2,066,528.68. This trade represents a 14.39 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.40% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. KeyCorp cut their price objective on shares of Tetra Tech from $49.00 to $45.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Maxim Group downgraded shares of Tetra Tech from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Royal Bank of Canada set a $49.00 price target on shares of Tetra Tech in a report on Friday, January 31st. StockNews.com downgraded shares of Tetra Tech from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Finally, Robert W. Baird raised their price target on shares of Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $47.92.

Tetra Tech Price Performance

Shares of NASDAQ:TTEK opened at $29.19 on Friday. The firm’s 50 day moving average price is $36.84 and its 200-day moving average price is $42.71. Tetra Tech, Inc. has a twelve month low of $28.98 and a twelve month high of $51.20. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $7.82 billion, a PE ratio of 30.66 and a beta of 0.89.

Tetra Tech (NASDAQ:TTEK) last issued its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.01. Tetra Tech had a net margin of 4.81% and a return on equity of 22.58%. Equities research analysts expect that Tetra Tech, Inc. will post 1.37 EPS for the current year.

Tetra Tech Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were paid a $0.058 dividend. This represents a $0.23 annualized dividend and a dividend yield of 0.79%. The ex-dividend date of this dividend was Wednesday, February 12th. Tetra Tech’s dividend payout ratio (DPR) is presently 24.21%.

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.