New York State Teachers Retirement System Has $8.77 Million Stake in Tetra Tech, Inc. (NASDAQ:TTEK)

New York State Teachers Retirement System grew its stake in Tetra Tech, Inc. (NASDAQ:TTEK) by 3.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 147,196 shares of the industrial products company’s stock after buying an additional 4,698 shares during the quarter. New York State Teachers Retirement System owned approximately 0.27% of Tetra Tech worth $8,771,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of TTEK. AQR Capital Management LLC lifted its holdings in shares of Tetra Tech by 154.8% during the third quarter. AQR Capital Management LLC now owns 16,249 shares of the industrial products company’s stock valued at $1,110,000 after purchasing an additional 9,872 shares in the last quarter. Vanguard Group Inc lifted its holdings in Tetra Tech by 1.5% in the third quarter. Vanguard Group Inc now owns 5,584,328 shares of the industrial products company’s stock valued at $381,410,000 after acquiring an additional 84,426 shares during the period. Meeder Asset Management Inc. bought a new position in Tetra Tech in the fourth quarter valued at about $66,000. Bank of Montreal Can lifted its holdings in Tetra Tech by 10.0% in the fourth quarter. Bank of Montreal Can now owns 7,294 shares of the industrial products company’s stock valued at $377,000 after acquiring an additional 666 shares during the period. Finally, Tributary Capital Management LLC lifted its holdings in Tetra Tech by 0.7% in the fourth quarter. Tributary Capital Management LLC now owns 352,022 shares of the industrial products company’s stock valued at $18,224,000 after acquiring an additional 2,612 shares during the period. Institutional investors and hedge funds own 85.48% of the company’s stock.

A number of brokerages have commented on TTEK. Roth Capital upped their price target on Tetra Tech from $66.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Sidoti began coverage on Tetra Tech in a research report on Tuesday, April 9th. They issued a “buy” rating for the company. Maxim Group restated a “buy” rating and issued a $87.00 price target on shares of Tetra Tech in a research report on Wednesday, April 24th. BidaskClub upgraded Tetra Tech from a “sell” rating to a “hold” rating in a research report on Thursday, May 9th. Finally, ValuEngine upgraded Tetra Tech from a “hold” rating to a “buy” rating in a research report on Thursday, June 6th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $76.83.

In other news, CEO Dan L. Batrack sold 95,109 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $72.49, for a total value of $6,894,451.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Albert E. Smith sold 12,600 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $60.00, for a total value of $756,000.00. Following the completion of the sale, the director now directly owns 47,358 shares of the company’s stock, valued at $2,841,480. The disclosure for this sale can be found here. Insiders have sold a total of 130,154 shares of company stock valued at $9,023,491 in the last 90 days. 3.00% of the stock is currently owned by company insiders.

Shares of NASDAQ:TTEK traded down $1.35 during trading on Friday, hitting $71.22. 287,600 shares of the company’s stock were exchanged, compared to its average volume of 324,043. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.23. Tetra Tech, Inc. has a 52-week low of $48.52 and a 52-week high of $75.00. The stock has a market capitalization of $3.99 billion, a P/E ratio of 26.98, a P/E/G ratio of 1.60 and a beta of 1.08.

Tetra Tech (NASDAQ:TTEK) last released its earnings results on Wednesday, May 1st. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.06. The firm had revenue of $585.40 million during the quarter, compared to analysts’ expectations of $552.65 million. Tetra Tech had a return on equity of 16.71% and a net margin of 5.44%. The firm’s revenue was up 9.9% on a year-over-year basis. During the same quarter last year, the business posted $0.54 earnings per share. On average, research analysts predict that Tetra Tech, Inc. will post 3.04 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Wednesday, May 15th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.84%. The ex-dividend date was Tuesday, May 14th. This is a boost from Tetra Tech’s previous quarterly dividend of $0.12. Tetra Tech’s dividend payout ratio (DPR) is currently 22.73%.

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Tetra Tech Profile

Tetra Tech, Inc provides consulting and engineering services worldwide. It operates through Government Services Group (GSG) and Commercial/International Services Group (CIG) segments. The GSG segment offers early data collection and monitoring, data analysis and information technology, science and engineering applied research, engineering design, construction 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.

Further Reading: Penny Stocks

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

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