Commerce Bank Acquires 7,361 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

Commerce Bank boosted its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 10.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 74,721 shares of the industrial products company’s stock after buying an additional 7,361 shares during the quarter. Commerce Bank’s holdings in Tetra Tech were worth $2,977,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in TTEK. Vanguard Group Inc. increased its holdings in shares of Tetra Tech by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 25,912,103 shares of the industrial products company’s stock valued at $1,032,338,000 after acquiring an additional 127,757 shares during the last quarter. Pictet Asset Management Holding SA grew its holdings in Tetra Tech by 2.8% during the fourth quarter. Pictet Asset Management Holding SA now owns 14,018,887 shares of the industrial products company’s stock valued at $558,512,000 after purchasing an additional 381,437 shares during the last quarter. Amundi raised its position in shares of Tetra Tech by 2.5% in the fourth quarter. Amundi now owns 4,873,176 shares of the industrial products company’s stock valued at $194,314,000 after purchasing an additional 117,304 shares during the period. Geode Capital Management LLC lifted its stake in shares of Tetra Tech by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 4,729,696 shares of the industrial products company’s stock worth $188,487,000 after buying an additional 13,616 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Tetra Tech during the 4th quarter worth $121,390,000. Institutional investors and hedge funds own 93.89% of the company’s stock.

Insiders Place Their Bets

In other news, Director Kirsten M. Volpi sold 10,116 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $34.33, for a total transaction of $347,282.28. Following the completion of the transaction, the director now directly owns 60,196 shares of the company’s stock, valued at approximately $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 accessible through the SEC website. Corporate insiders own 0.40% of the company’s stock.

Tetra Tech Stock Up 1.2 %

Shares of TTEK opened at $30.22 on Monday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.29 and a current ratio of 1.29. The company has a 50-day simple moving average of $29.63 and a 200-day simple moving average of $38.13. Tetra Tech, Inc. has a 52 week low of $27.27 and a 52 week high of $51.20. The firm has a market capitalization of $8.10 billion, a P/E ratio of 31.74 and a beta of 0.89.

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

Tetra Tech Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were given a $0.058 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $0.23 annualized dividend and a yield of 0.77%. Tetra Tech’s dividend payout ratio (DPR) is currently 24.21%.

Wall Street Analysts Forecast Growth

TTEK has been the subject of a number of research analyst reports. Royal Bank of Canada set a $49.00 target price on shares of Tetra Tech in a research report on Friday, January 31st. Maxim Group cut Tetra Tech from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 4th. Finally, KeyCorp lowered their target price on Tetra Tech from $45.00 to $34.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Tetra Tech presently has an average rating of “Moderate Buy” and an average price target of $45.72.

Tetra Tech 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.