SFE Investment Counsel Reduces Stock Position in Tetra Tech, Inc. $TTEK

SFE Investment Counsel trimmed its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 3.1% in the second quarter, Holdings Channel.com reports. The fund owned 81,856 shares of the industrial products company’s stock after selling 2,585 shares during the period. SFE Investment Counsel’s holdings in Tetra Tech were worth $2,944,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Baillie Gifford & Co. purchased a new position in Tetra Tech in the 1st quarter valued at approximately $27,000. Central Pacific Bank Trust Division purchased a new stake in Tetra Tech during the second quarter worth $32,000. Parkside Financial Bank & Trust grew its holdings in Tetra Tech by 54.5% in the second quarter. Parkside Financial Bank & Trust now owns 987 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 348 shares during the last quarter. SVB Wealth LLC purchased a new position in shares of Tetra Tech in the first quarter valued at $36,000. Finally, Geneos Wealth Management Inc. increased its position in shares of Tetra Tech by 136.1% in the first quarter. Geneos Wealth Management Inc. now owns 1,303 shares of the industrial products company’s stock valued at $38,000 after buying an additional 751 shares in the last quarter. Hedge funds and other institutional investors own 93.89% of the company’s stock.

Insiders Place Their Bets

In related news, Director Gary Birkenbeuel sold 2,390 shares of the stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $36.00, for a total transaction of $86,040.00. Following the transaction, the director directly owned 37,725 shares in the company, valued at approximately $1,358,100. This represents a 5.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.40% of the company’s stock.

Tetra Tech Trading Up 0.9%

Shares of Tetra Tech stock opened at $32.22 on Friday. Tetra Tech, Inc. has a fifty-two week low of $27.27 and a fifty-two week high of $48.73. The business’s fifty day moving average is $34.12 and its two-hundred day moving average is $35.07. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.50. The firm has a market cap of $8.47 billion, a PE ratio of 40.28 and a beta of 0.96.

Analyst Upgrades and Downgrades

TTEK has been the topic of several recent research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Tetra Tech in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of Tetra Tech from a “hold” rating to a “buy” rating in a research report on Saturday, October 25th. KeyCorp increased their price target on shares of Tetra Tech from $41.00 to $43.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Royal Bank Of Canada set a $47.00 price objective on shares of Tetra Tech and gave the stock an “outperform” rating in a research note on Monday, September 29th. Finally, Northcoast Research restated a “neutral” rating on shares of Tetra Tech in a research report on Wednesday, October 1st. Three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $41.00.

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.