MGO One Seven LLC Buys Shares of 1,622 Tetra Tech, Inc. (NASDAQ:TTEK)

Posted by Defense World Staff on Aug 17th, 2023

MGO One Seven LLC acquired a new position in shares of Tetra Tech, Inc. (NASDAQ:TTEK – Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,622 shares of the industrial products company’s stock, valued at approximately $238,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of Tetra Tech by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 5,303,607 shares of the industrial products company’s stock valued at $874,777,000 after purchasing an additional 61,906 shares during the last quarter. State Street Corp increased its holdings in shares of Tetra Tech by 1.9% during the first quarter. State Street Corp now owns 1,707,196 shares of the industrial products company’s stock worth $281,585,000 after buying an additional 31,942 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Tetra Tech by 7.5% in the 1st quarter. Invesco Ltd. now owns 917,617 shares of the industrial products company’s stock valued at $151,353,000 after acquiring an additional 64,168 shares during the last quarter. Norges Bank acquired a new stake in shares of Tetra Tech during the 4th quarter valued at $132,468,000. Finally, Geode Capital Management LLC grew its position in Tetra Tech by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 871,190 shares of the industrial products company’s stock worth $126,488,000 after acquiring an additional 10,193 shares during the last quarter. Institutional investors own 86.31% of the company’s stock.

Insider Buying and Selling

In other Tetra Tech news, Director J Kenneth Thompson sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $156.21, for a total value of $390,525.00. Following the transaction, the director now directly owns 17,836 shares of the company’s stock, valued at $2,786,161.56. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Tetra Tech news, SVP Brian N. Carter sold 2,234 shares of the stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $156.91, for a total value of $350,536.94. Following the transaction, the senior vice president now owns 7,818 shares in the company, valued at $1,226,722.38. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director J Kenneth Thompson sold 2,500 shares of Tetra Tech stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $156.21, for a total transaction of $390,525.00. Following the completion of the sale, the director now directly owns 17,836 shares of the company’s stock, valued at approximately $2,786,161.56. The disclosure for this sale can be found here. Insiders sold 9,734 shares of company stock valued at $1,502,612 over the last 90 days. Company insiders own 0.76% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Maxim Group increased their target price on Tetra Tech from $200.00 to $215.00 in a research report on Friday, August 11th. KeyCorp boosted their target price on shares of Tetra Tech from $185.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, August 11th. StockNews.com initiated coverage on shares of Tetra Tech in a research note on Thursday. They set a “hold” rating for the company. Finally, Robert W. Baird boosted their price objective on shares of Tetra Tech from $157.00 to $172.00 in a research note on Thursday, August 10th.

Read Our Latest Report on Tetra Tech

Tetra Tech Stock Performance

NASDAQ:TTEK opened at $166.53 on Thursday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.17 and a current ratio of 1.17. Tetra Tech, Inc. has a fifty-two week low of $122.86 and a fifty-two week high of $173.27. The company has a 50 day simple moving average of $165.63 and a two-hundred day simple moving average of $150.82. The company has a market capitalization of $8.87 billion, a PE ratio of 29.47 and a beta of 1.00.

Tetra Tech (NASDAQ:TTEK – Get Free Report) last posted its quarterly earnings data on Wednesday, August 9th. The industrial products company reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.11. The company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $959.52 million. Tetra Tech had a net margin of 7.27% and a return on equity of 20.41%. Tetra Tech’s revenue for the quarter was up 67.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.08 earnings per share. Research analysts anticipate that Tetra Tech, Inc. will post 5.27 earnings per share for the current year.

Tetra Tech Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 6th. Investors of record on Wednesday, August 23rd will be given a dividend of $0.26 per share. The ex-dividend date is Tuesday, August 22nd. This represents a $1.04 annualized dividend and a dividend yield of 0.62%. Tetra Tech’s payout ratio is 18.41%.

Tetra Tech Company Profile

(Free Report)

Tetra Tech, Inc provides consulting and engineering services worldwide. 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.