Pictet Asset Management Holding SA Grows Position in Tetra Tech, Inc. (NASDAQ:TTEK)

Pictet Asset Management Holding SA raised its position in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 2.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,018,887 shares of the industrial products company’s stock after acquiring an additional 381,437 shares during the period. Pictet Asset Management Holding SA owned approximately 5.23% of Tetra Tech worth $558,512,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of TTEK. Millburn Ridgefield Corp grew its position in Tetra Tech by 346.9% in the third quarter. Millburn Ridgefield Corp now owns 800 shares of the industrial products company’s stock worth $37,000 after acquiring an additional 621 shares in the last quarter. R Squared Ltd purchased a new position in shares of Tetra Tech in the 4th quarter worth approximately $39,000. Asset Planning Inc bought a new position in shares of Tetra Tech during the 4th quarter valued at approximately $40,000. Jones Financial Companies Lllp raised its holdings in Tetra Tech by 98.0% during the 4th quarter. Jones Financial Companies Lllp now owns 1,000 shares of the industrial products company’s stock valued at $40,000 after buying an additional 495 shares during the period. Finally, Brown Brothers Harriman & Co. lifted its position in Tetra Tech by 400.0% in the third quarter. Brown Brothers Harriman & Co. now owns 1,080 shares of the industrial products company’s stock worth $51,000 after buying an additional 864 shares during the last quarter. 93.89% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Kirsten M. Volpi sold 10,116 shares of Tetra Tech stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $34.33, for a total transaction of $347,282.28. Following the transaction, the director now directly owns 60,196 shares of the company’s stock, valued at $2,066,528.68. This trade represents a 14.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Maxim Group cut shares of Tetra Tech from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Royal Bank of Canada set a $49.00 price target on shares of Tetra Tech in a report on Friday, January 31st. Finally, KeyCorp decreased their price objective on shares of Tetra Tech from $49.00 to $45.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Tetra Tech has an average rating of “Moderate Buy” and a consensus price target of $47.92.

Tetra Tech Price Performance

Tetra Tech stock opened at $29.50 on Friday. The stock has a market cap of $7.91 billion, a price-to-earnings ratio of 30.99 and a beta of 0.93. The firm has a 50-day moving average of $32.40 and a two-hundred day moving average of $40.32. Tetra Tech, Inc. has a 1 year low of $28.17 and a 1 year high of $51.20. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.29 and a quick ratio of 1.29.

Tetra Tech (NASDAQ:TTEK) last announced its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.35 earnings per share (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, research analysts forecast that Tetra Tech, Inc. will post 1.37 earnings per share for the current year.

Tetra Tech Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were given a dividend of $0.058 per share. This represents a $0.23 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date of this dividend was Wednesday, February 12th. Tetra Tech’s dividend payout ratio (DPR) is 24.21%.

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.