California Public Employees Retirement System Sells 34,802 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

California Public Employees Retirement System lowered its holdings in Tetra Tech, Inc. (NASDAQ:TTEK) by 6.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 507,774 shares of the industrial products company’s stock after selling 34,802 shares during the quarter. California Public Employees Retirement System owned approximately 0.19% of Tetra Tech worth $20,230,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Townsquare Capital LLC raised its stake in Tetra Tech by 430.8% in the third quarter. Townsquare Capital LLC now owns 6,327 shares of the industrial products company’s stock worth $298,000 after buying an additional 5,135 shares in the last quarter. Walleye Capital LLC increased its holdings in shares of Tetra Tech by 2,141.2% in the 3rd quarter. Walleye Capital LLC now owns 6,096 shares of the industrial products company’s stock valued at $287,000 after acquiring an additional 5,824 shares during the period. Captrust Financial Advisors raised its position in shares of Tetra Tech by 463.7% in the 3rd quarter. Captrust Financial Advisors now owns 24,724 shares of the industrial products company’s stock worth $1,166,000 after acquiring an additional 20,338 shares in the last quarter. Edgestream Partners L.P. lifted its stake in shares of Tetra Tech by 74.5% during the 3rd quarter. Edgestream Partners L.P. now owns 16,010 shares of the industrial products company’s stock worth $755,000 after purchasing an additional 6,835 shares during the last quarter. Finally, Paloma Partners Management Co bought a new stake in Tetra Tech during the third quarter valued at about $271,000. Hedge funds and other institutional investors own 93.89% of the company’s stock.

Analyst Upgrades and Downgrades

TTEK has been the subject of several analyst reports. Maxim Group lowered shares of Tetra Tech from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. KeyCorp lowered their target price on shares of Tetra Tech from $49.00 to $45.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Finally, Royal Bank of Canada set a $49.00 price target on shares of Tetra Tech in a report on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $47.92.

Insider Activity at Tetra Tech

In other news, Director Kirsten M. Volpi sold 10,116 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $34.33, for a total value of $347,282.28. Following the sale, the director now directly owns 60,196 shares of the company’s stock, valued at $2,066,528.68. This 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. 0.40% of the stock is owned by insiders.

Tetra Tech Stock Down 2.7 %

TTEK stock opened at $30.01 on Friday. The stock has a market capitalization of $8.04 billion, a PE ratio of 31.52 and a beta of 0.93. Tetra Tech, Inc. has a 52 week low of $28.17 and a 52 week 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 firm has a 50 day moving average of $31.21 and a 200 day moving average of $39.75.

Tetra Tech (NASDAQ:TTEK) last released its earnings results on Wednesday, January 29th. The industrial products company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.01. Tetra Tech had a return on equity of 22.58% and a net margin of 4.81%. Sell-side analysts forecast that Tetra Tech, Inc. will post 1.37 earnings per share for the current year.

Tetra Tech Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were given a $0.058 dividend. The ex-dividend date was Wednesday, February 12th. This represents a $0.23 dividend on an annualized basis and a yield of 0.77%. Tetra Tech’s dividend payout ratio is currently 24.21%.

Tetra Tech Company 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.