Artemis Investment Management LLP Sells 3,016 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

Artemis Investment Management LLP lessened its holdings in Tetra Tech, Inc. (NASDAQ:TTEK) by 44.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,814 shares of the industrial products company’s stock after selling 3,016 shares during the quarter. Artemis Investment Management LLP’s holdings in Tetra Tech were worth $704,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Sarasin & Partners LLP raised its holdings in Tetra Tech by 2.6% during the 1st quarter. Sarasin & Partners LLP now owns 1,253,981 shares of the industrial products company’s stock worth $231,623,000 after purchasing an additional 32,053 shares during the last quarter. Norges Bank purchased a new position in Tetra Tech during the 4th quarter worth $96,655,000. Vontobel Holding Ltd. boosted its holdings in Tetra Tech by 2.8% during the 4th quarter. Vontobel Holding Ltd. now owns 533,587 shares of the industrial products company’s stock worth $89,072,000 after acquiring an additional 14,334 shares during the last quarter. First Trust Advisors LP boosted its holdings in Tetra Tech by 8.8% during the 4th quarter. First Trust Advisors LP now owns 515,711 shares of the industrial products company’s stock worth $86,088,000 after acquiring an additional 41,860 shares during the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc purchased a new position in Tetra Tech during the 4th quarter worth $82,209,000. Institutional investors own 93.89% of the company’s stock.

Tetra Tech Stock Performance

Shares of Tetra Tech stock traded down $10.57 during trading on Friday, hitting $204.48. 682,071 shares of the company’s stock traded hands, compared to its average volume of 276,812. The stock has a market capitalization of $10.94 billion, a P/E ratio of 43.53 and a beta of 0.98. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.24 and a quick ratio of 1.24. The business has a 50-day simple moving average of $207.78 and a 200-day simple moving average of $186.26. Tetra Tech, Inc. has a 1 year low of $143.35 and a 1 year high of $221.40.

Tetra Tech (NASDAQ:TTEK) last announced its earnings results on Wednesday, May 1st. The industrial products company reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.13. The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Tetra Tech had a return on equity of 21.16% and a net margin of 5.36%. The business’s revenue for the quarter was down 9.5% on a year-over-year basis. During the same period last year, the firm posted $1.17 earnings per share. As a group, analysts forecast that Tetra Tech, Inc. will post 6.2 EPS for the current year.

Tetra Tech Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Monday, May 20th were given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 0.57%. This is a boost from Tetra Tech’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Friday, May 17th. Tetra Tech’s dividend payout ratio (DPR) is presently 23.48%.

Insider Transactions at Tetra Tech

In other news, EVP Leslie L. Shoemaker sold 11,161 shares of the firm’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $211.83, for a total value of $2,364,234.63. Following the transaction, the executive vice president now owns 74,887 shares of the company’s stock, valued at $15,863,313.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

TTEK has been the topic of a number of recent analyst reports. Northcoast Research upgraded Tetra Tech from a “neutral” rating to a “buy” rating and set a $225.00 target price on the stock in a research note on Thursday, May 2nd. Maxim Group upped their price target on Tetra Tech from $234.00 to $268.00 and gave the company a “buy” rating in a research report on Thursday, May 16th. Royal Bank of Canada boosted their price objective on Tetra Tech from $203.00 to $233.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Robert W. Baird boosted their price objective on Tetra Tech from $200.00 to $223.00 and gave the stock a “neutral” rating in a report on Wednesday, May 15th. Finally, StockNews.com lowered Tetra Tech from a “buy” rating to a “hold” rating in a research note on Wednesday, June 19th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Tetra Tech currently has an average rating of “Moderate Buy” and a consensus target price of $236.60.

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.