Tetra Tech, Inc. (NASDAQ:TTEK) Short Interest Update

Tetra Tech, Inc. (NASDAQ:TTEK) was the recipient of a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 5,090,000 shares, an increase of 29.8% from the October 31st total of 3,920,000 shares. Based on an average daily trading volume, of 1,770,000 shares, the days-to-cover ratio is currently 2.9 days.

Tetra Tech Trading Up 0.1 %

Tetra Tech stock traded up $0.04 during trading on Friday, hitting $41.51. The company’s stock had a trading volume of 1,335,703 shares, compared to its average volume of 1,505,794. The stock’s fifty day moving average is $46.67 and its 200 day moving average is $44.59. Tetra Tech has a 1-year low of $30.92 and a 1-year high of $51.20. The stock has a market capitalization of $11.11 billion, a price-to-earnings ratio of 33.66 and a beta of 0.94. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.25 and a current ratio of 1.25.

Tetra Tech Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th will be paid a dividend of $0.058 per share. This represents a $0.23 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date is Wednesday, November 27th. Tetra Tech’s dividend payout ratio is currently 18.67%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In related news, CFO Steven M. Burdick sold 36,830 shares of the stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $46.57, for a total transaction of $1,715,173.10. Following the completion of the transaction, the chief financial officer now directly owns 112,620 shares of the company’s stock, valued at $5,244,713.40. This represents a 24.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Kimberly E. Ritrievi sold 6,500 shares of Tetra Tech stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $46.48, for a total value of $302,120.00. Following the completion of the sale, the director now directly owns 143,200 shares in the company, valued at $6,655,936. This represents a 4.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 121,750 shares of company stock valued at $5,633,239 over the last quarter. 0.61% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tetra Tech

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

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.