Bank of Montreal Can Purchases 28,783 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

Posted by Defense World Staff on Feb 24th, 2023

Bank of Montreal Can lifted its position in shares of Tetra Tech, Inc. (NASDAQ:TTEK – Get Rating) by 404.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 35,901 shares of the industrial products company’s stock after acquiring an additional 28,783 shares during the period. Bank of Montreal Can owned approximately 0.07% of Tetra Tech worth $4,698,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brown Brothers Harriman & Co. bought a new stake in shares of Tetra Tech during the 2nd quarter worth approximately $25,000. Private Trust Co. NA increased its position in Tetra Tech by 64.3% during the 3rd quarter. Private Trust Co. NA now owns 253 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 99 shares in the last quarter. Clear Investment Research LLC acquired a new position in Tetra Tech during the 3rd quarter worth approximately $39,000. Quantbot Technologies LP acquired a new position in Tetra Tech during the 2nd quarter worth approximately $39,000. Finally, Householder Group Estate & Retirement Specialist LLC acquired a new position in Tetra Tech during the 3rd quarter worth approximately $40,000. Institutional investors own 85.28% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on TTEK shares. StockNews.com upgraded shares of Tetra Tech from a “hold” rating to a “buy” rating in a research report on Saturday, December 17th. Robert W. Baird upped their price target on shares of Tetra Tech from $155.00 to $164.00 and gave the company a “neutral” rating in a research report on Thursday, February 2nd. Finally, Maxim Group upped their price target on shares of Tetra Tech from $190.00 to $200.00 in a research report on Friday, November 11th.

Insider Activity

In other news, CEO Dan L. Batrack sold 30,000 shares of the company’s stock in a transaction on Thursday, December 15th. The shares were sold at an average price of $153.63, for a total value of $4,608,900.00. Following the sale, the chief executive officer now directly owns 48,487 shares of the company’s stock, valued at approximately $7,449,057.81. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Dan L. Batrack sold 30,000 shares of the company’s stock in a transaction on Thursday, December 15th. The shares were sold at an average price of $153.63, for a total value of $4,608,900.00. Following the sale, the chief executive officer now directly owns 48,487 shares of the company’s stock, valued at approximately $7,449,057.81. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Kirsten M. Volpi sold 900 shares of the company’s stock in a transaction on Thursday, February 16th. The shares were sold at an average price of $145.74, for a total transaction of $131,166.00. Following the completion of the sale, the director now directly owns 11,563 shares in the company, valued at $1,685,191.62. The disclosure for this sale can be found here. In the last three months, insiders have sold 58,564 shares of company stock valued at $9,018,009. 0.76% of the stock is currently owned by insiders.

Tetra Tech Trading Up 0.1 %

Shares of NASDAQ TTEK opened at $138.70 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.42 and a current ratio of 1.42. Tetra Tech, Inc. has a 52-week low of $118.55 and a 52-week high of $169.95. The firm has a 50 day moving average price of $147.40 and a two-hundred day moving average price of $143.45. The stock has a market cap of $7.38 billion, a P/E ratio of 23.91 and a beta of 0.94.

Tetra Tech (NASDAQ:TTEK – Get Rating) last announced its quarterly earnings results on Wednesday, February 1st. The industrial products company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.14. Tetra Tech had a net margin of 8.79% and a return on equity of 20.20%. The firm had revenue of $736.56 million during the quarter, compared to analysts’ expectations of $717.73 million. During the same period in the prior year, the company posted $1.19 EPS. The company’s revenue was up 8.4% on a year-over-year basis. As a group, equities analysts forecast that Tetra Tech, Inc. will post 5.01 EPS for the current year.

Tetra Tech Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 24th. Stockholders of record on Monday, February 13th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date of this dividend is Friday, February 10th. Tetra Tech’s dividend payout ratio is currently 15.86%.

Tetra Tech Profile

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Tetra Tech, Inc engages in the provision of consulting and engineering services. It operates through the following segments: Government Services Group (GSG), Commercial and International Services Group (CIG), and Remediation and Construction Management (RCM). The GSG segment offers consulting and engineering services primarily to United States government clients such as federal, state and local, and development agencies worldwide.