Denali Advisors LLC Reduces Stock Holdings in Tetra Tech, Inc. (NASDAQ:TTEK)

Denali Advisors LLC cut its holdings in Tetra Tech, Inc. (NASDAQ:TTEK) by 81.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 19,802 shares of the industrial products company’s stock after selling 89,130 shares during the quarter. Denali Advisors LLC’s holdings in Tetra Tech were worth $789,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allworth Financial LP increased its holdings in shares of Tetra Tech by 629.3% during the third quarter. Allworth Financial LP now owns 547 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 472 shares in the last quarter. LGT Financial Advisors LLC grew its position in Tetra Tech by 400.0% during the 3rd quarter. LGT Financial Advisors LLC now owns 555 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 444 shares during the last quarter. Venturi Wealth Management LLC increased its stake in Tetra Tech by 3,261.1% during the 3rd quarter. Venturi Wealth Management LLC now owns 605 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 587 shares in the last quarter. Canton Hathaway LLC raised its holdings in shares of Tetra Tech by 400.0% in the third quarter. Canton Hathaway LLC now owns 645 shares of the industrial products company’s stock worth $30,000 after buying an additional 516 shares during the last quarter. Finally, Banque Cantonale Vaudoise lifted its stake in shares of Tetra Tech by 400.0% during the third quarter. Banque Cantonale Vaudoise now owns 695 shares of the industrial products company’s stock worth $33,000 after buying an additional 556 shares during the period. 93.89% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on TTEK shares. KeyCorp cut their target price on Tetra Tech from $49.00 to $45.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Maxim Group lowered Tetra Tech from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. StockNews.com downgraded Tetra Tech from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Royal Bank of Canada set a $49.00 price target on shares of Tetra Tech in a report on Friday, January 31st. Finally, Robert W. Baird lifted their price objective on shares of Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $47.92.

Tetra Tech Stock Performance

Shares of TTEK stock opened at $29.64 on Thursday. The stock has a market cap of $7.94 billion, a PE ratio of 31.13 and a beta of 0.89. Tetra Tech, Inc. has a 52-week low of $29.23 and a 52-week high of $51.20. The business has a 50-day simple moving average of $37.05 and a 200-day simple moving average of $42.83. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.53.

Tetra Tech (NASDAQ:TTEK) last released its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.34 by $0.01. Tetra Tech had a return on equity of 22.58% and a net margin of 4.81%. On average, equities analysts expect that Tetra Tech, Inc. will post 1.37 EPS for the current year.

Tetra Tech Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were given a dividend of $0.058 per share. The ex-dividend date was Wednesday, February 12th. This represents a $0.23 annualized dividend and a yield of 0.78%. Tetra Tech’s dividend payout ratio is presently 24.21%.

Insider Buying and Selling at Tetra Tech

In other news, Director Kirsten M. Volpi sold 10,116 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $34.33, for a total transaction of $347,282.28. Following the sale, the director now directly owns 60,196 shares in the company, valued at $2,066,528.68. This trade represents a 14.39 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.40% of the stock is owned by corporate insiders.

Tetra Tech Company Profile

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.