162,110 Shares in Tetra Tech, Inc. (NASDAQ:TTEK) Bought by Progeny 3 Inc.

Progeny 3 Inc. purchased a new stake in Tetra Tech, Inc. (NASDAQ:TTEK) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 162,110 shares of the industrial products company’s stock, valued at approximately $7,645,000. Tetra Tech makes up approximately 0.6% of Progeny 3 Inc.’s investment portfolio, making the stock its 28th largest holding. Progeny 3 Inc. owned approximately 0.06% of Tetra Tech at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Banque Cantonale Vaudoise bought a new position in Tetra Tech in the second quarter valued at $28,000. EverSource Wealth Advisors LLC increased its position in shares of Tetra Tech by 561.3% in the second quarter. EverSource Wealth Advisors LLC now owns 205 shares of the industrial products company’s stock valued at $44,000 after acquiring an additional 174 shares during the last quarter. Family Firm Inc. acquired a new position in Tetra Tech during the second quarter valued at approximately $51,000. Quarry LP acquired a new stake in shares of Tetra Tech in the 2nd quarter valued at approximately $54,000. Finally, CWM LLC increased its holdings in Tetra Tech by 20.2% during the second quarter. CWM LLC now owns 304 shares of the industrial products company’s stock worth $62,000 after buying an additional 51 shares during the last quarter. 93.89% of the stock is owned by institutional investors and hedge funds.

Tetra Tech Price Performance

Shares of NASDAQ TTEK opened at $41.51 on Friday. The business’s 50 day moving average is $46.58 and its 200-day moving average is $44.58. The firm has a market cap of $11.11 billion, a P/E ratio of 33.69 and a beta of 0.94. Tetra Tech, Inc. has a 1-year low of $30.92 and a 1-year high of $51.20. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.44.

Tetra Tech Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be paid a $0.058 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $0.23 annualized dividend and a dividend yield of 0.56%. Tetra Tech’s dividend payout ratio (DPR) is presently 18.67%.

Insiders Place Their Bets

In other news, CFO Steven M. Burdick sold 36,830 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $46.57, for a total value of $1,715,173.10. Following the completion of the transaction, the chief financial officer now directly owns 112,620 shares in the company, valued at approximately $5,244,713.40. The trade was a 24.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kimberly E. Ritrievi sold 6,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $46.48, for a total transaction of $302,120.00. Following the sale, the director now directly owns 143,200 shares of the company’s stock, valued at approximately $6,655,936. This trade represents a 4.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 121,750 shares of company stock worth $5,633,239 in the last quarter. 0.61% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Robert W. Baird boosted their price objective on shares of Tetra Tech from $46.00 to $47.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. StockNews.com lowered Tetra Tech from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Royal Bank of Canada reissued an “outperform” rating and set a $52.00 target price on shares of Tetra Tech in a report on Friday, November 15th. Finally, KeyCorp cut their price target on Tetra Tech from $56.00 to $49.00 and set an “overweight” rating for the company in a report on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $49.32.

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.