Duff & Phelps Investment Management Co. Sells 148,134 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

Duff & Phelps Investment Management Co. trimmed its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 23.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 482,826 shares of the industrial products company’s stock after selling 148,134 shares during the quarter. Duff & Phelps Investment Management Co. owned approximately 0.18% of Tetra Tech worth $19,236,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Millburn Ridgefield Corp grew its position in shares of Tetra Tech by 346.9% during the 3rd quarter. Millburn Ridgefield Corp now owns 800 shares of the industrial products company’s stock valued at $37,000 after acquiring an additional 621 shares during the period. R Squared Ltd bought a new stake in Tetra Tech during the fourth quarter valued at about $39,000. Asset Planning Inc bought a new stake in Tetra Tech during the fourth quarter valued at about $40,000. Jones Financial Companies Lllp increased its position in Tetra Tech by 98.0% in the fourth quarter. Jones Financial Companies Lllp now owns 1,000 shares of the industrial products company’s stock worth $40,000 after buying an additional 495 shares in the last quarter. Finally, Brown Brothers Harriman & Co. raised its stake in shares of Tetra Tech by 400.0% in the third quarter. Brown Brothers Harriman & Co. now owns 1,080 shares of the industrial products company’s stock worth $51,000 after buying an additional 864 shares during the period. 93.89% of the stock is owned by hedge funds and other institutional investors.

Tetra Tech Trading Up 0.6 %

TTEK stock opened at $29.50 on Friday. The company has a market capitalization of $7.91 billion, a PE ratio of 30.99 and a beta of 0.93. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.29 and a quick ratio of 1.29. Tetra Tech, Inc. has a 12 month low of $28.17 and a 12 month high of $51.20. The firm’s 50-day moving average is $32.40 and its 200 day moving average is $40.32.

Tetra Tech (NASDAQ:TTEK) last announced its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. Tetra Tech had a return on equity of 22.58% and a net margin of 4.81%. On average, research analysts anticipate that Tetra Tech, Inc. will post 1.37 EPS for the current year.

Tetra Tech Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were issued a dividend of $0.058 per share. This represents a $0.23 annualized dividend and a yield of 0.79%. The ex-dividend date of this dividend was Wednesday, February 12th. Tetra Tech’s payout ratio is 24.21%.

Analyst Ratings Changes

TTEK has been the subject of several analyst reports. KeyCorp reduced their target price on shares of Tetra Tech from $49.00 to $45.00 and set an “overweight” rating for the company in a 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. Finally, Royal Bank of Canada set a $49.00 price objective on shares of Tetra Tech in a research report on Friday, January 31st. Three equities research 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, the stock has a consensus rating of “Moderate Buy” and an average price target of $47.92.

Insider Buying and Selling at Tetra Tech

In related news, Director Kirsten M. Volpi sold 10,116 shares of Tetra Tech 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 transaction, the director now directly owns 60,196 shares of the company’s stock, valued at $2,066,528.68. This trade represents a 14.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.40% of the company’s stock.

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.