United Services Automobile Association purchased a new position in Tetra Tech, Inc. (NASDAQ:TTEK) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 18,630 shares of the industrial products company’s stock, valued at approximately $761,000.
A number of other large investors have also modified their holdings of TTEK. Tyers Asset Management LLC purchased a new stake in Tetra Tech during the fourth quarter valued at about $146,000. Victory Capital Management Inc. bought a new position in shares of Tetra Tech during the first quarter valued at $185,000. LS Investment Advisors LLC raised its position in shares of Tetra Tech by 117.6% in the first quarter. LS Investment Advisors LLC now owns 4,872 shares of the industrial products company’s stock valued at $199,000 after buying an additional 2,633 shares during the last quarter. US Bancorp DE raised its position in shares of Tetra Tech by 69.9% in the first quarter. US Bancorp DE now owns 5,416 shares of the industrial products company’s stock valued at $221,000 after buying an additional 2,228 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its position in shares of Tetra Tech by 1.8% in the first quarter. State of Alaska Department of Revenue now owns 6,330 shares of the industrial products company’s stock valued at $258,000 after buying an additional 110 shares during the last quarter. 84.87% of the stock is currently owned by hedge funds and other institutional investors.
Tetra Tech (NASDAQ:TTEK) last released its quarterly earnings data on Wednesday, May 3rd. The industrial products company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.02. Tetra Tech had a net margin of 4.04% and a return on equity of 13.70%. The business had revenue of $511.95 million during the quarter, compared to analyst estimates of $491.60 million. During the same quarter in the previous year, the business earned $0.37 EPS. Tetra Tech’s quarterly revenue was up 6.9% compared to the same quarter last year.
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TTEK has been the subject of several recent research reports. Zacks Investment Research raised shares of Tetra Tech from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a report on Tuesday, July 4th. Stifel Nicolaus restated a “hold” rating and set a $50.00 price objective on shares of Tetra Tech in a research note on Friday, July 7th. Canaccord Genuity restated a “buy” rating and set a $52.00 price objective on shares of Tetra Tech in a research note on Wednesday, June 7th. Sidoti restated a “buy” rating and set a $58.00 price objective (up from $55.00) on shares of Tetra Tech in a research note on Sunday, May 14th. Finally, BidaskClub cut shares of Tetra Tech from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 21st. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $47.89.
In other Tetra Tech news, Chairman Dan L. Batrack sold 150,000 shares of the business’s stock in a transaction on Thursday, May 4th. The shares were sold at an average price of $46.00, for a total transaction of $6,900,000.00. Following the completion of the transaction, the chairman now owns 363,011 shares of the company’s stock, valued at approximately $16,698,506. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Brian N. Carter sold 3,396 shares of the business’s stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $46.20, for a total transaction of $156,895.20. Following the transaction, the senior vice president now directly owns 7,243 shares of the company’s stock, valued at approximately $334,626.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 354,464 shares of company stock valued at $16,197,699. 4.00% of the stock is owned by company insiders.
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.
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