Tetra Tech, Inc. (NASDAQ:TTEK) Stake Raised by NFJ Investment Group LLC

NFJ Investment Group LLC grew its holdings in Tetra Tech, Inc. (NASDAQ:TTEK) by 138.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 127,453 shares of the industrial products company’s stock after purchasing an additional 73,979 shares during the period. NFJ Investment Group LLC’s holdings in Tetra Tech were worth $6,011,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in TTEK. Sarasin & Partners LLP increased its stake in shares of Tetra Tech by 330.9% in the third quarter. Sarasin & Partners LLP now owns 4,950,383 shares of the industrial products company’s stock worth $233,460,000 after acquiring an additional 3,801,435 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in Tetra Tech by 387.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,299,418 shares of the industrial products company’s stock worth $155,601,000 after purchasing an additional 2,622,288 shares during the last quarter. abrdn plc raised its stake in shares of Tetra Tech by 353.0% during the 3rd quarter. abrdn plc now owns 2,110,076 shares of the industrial products company’s stock worth $98,477,000 after purchasing an additional 1,644,267 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Tetra Tech by 357.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,070,483 shares of the industrial products company’s stock valued at $97,644,000 after buying an additional 1,618,211 shares during the last quarter. Finally, Copeland Capital Management LLC grew its stake in shares of Tetra Tech by 289.0% in the 3rd quarter. Copeland Capital Management LLC now owns 1,824,250 shares of the industrial products company’s stock valued at $86,032,000 after buying an additional 1,355,351 shares in the last quarter. 93.89% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Leslie L. Shoemaker sold 78,420 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $46.11, for a total transaction of $3,615,946.20. Following the transaction, the executive vice president now owns 296,015 shares of the company’s stock, valued at approximately $13,649,251.65. The trade was a 20.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Kimberly E. Ritrievi sold 6,500 shares of the company’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $46.48, for a total transaction of $302,120.00. Following the transaction, the director now owns 143,200 shares of the company’s stock, valued at approximately $6,655,936. The trade was a 4.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 121,750 shares of company stock valued at $5,633,239. Insiders own 0.61% of the company’s stock.

Tetra Tech Price Performance

Shares of Tetra Tech stock opened at $42.34 on Wednesday. Tetra Tech, Inc. has a 1-year low of $31.61 and a 1-year high of $51.20. The firm has a fifty day simple moving average of $46.38 and a 200-day simple moving average of $44.58. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $11.34 billion, a price-to-earnings ratio of 34.37 and a beta of 0.88.

Tetra Tech Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th will be issued a dividend of $0.058 per share. This represents a $0.23 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend is Wednesday, November 27th. Tetra Tech’s dividend payout ratio (DPR) is 18.67%.

Analysts Set New Price Targets

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