Tetra Tech, Inc. $TTEK Stake Cut by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC reduced its holdings in Tetra Tech, Inc. (NASDAQ:TTEK) by 10.8% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 1,047,796 shares of the industrial products company’s stock after selling 127,428 shares during the quarter. TimesSquare Capital Management LLC owned approximately 0.40% of Tetra Tech worth $37,679,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of TTEK. Brighton Jones LLC bought a new stake in Tetra Tech in the 4th quarter valued at about $225,000. Envestnet Asset Management Inc. lifted its holdings in Tetra Tech by 4.7% in the first quarter. Envestnet Asset Management Inc. now owns 782,703 shares of the industrial products company’s stock worth $22,894,000 after purchasing an additional 35,073 shares during the period. State of Michigan Retirement System grew its position in Tetra Tech by 1.1% in the 1st quarter. State of Michigan Retirement System now owns 64,140 shares of the industrial products company’s stock valued at $1,876,000 after buying an additional 700 shares in the last quarter. Xponance Inc. lifted its stake in shares of Tetra Tech by 1.6% in the 1st quarter. Xponance Inc. now owns 43,677 shares of the industrial products company’s stock worth $1,278,000 after acquiring an additional 674 shares during the period. Finally, New York State Common Retirement Fund raised its holdings in Tetra Tech by 10.6% during the first quarter. New York State Common Retirement Fund now owns 716,188 shares of the industrial products company’s stock worth $20,948,000 after purchasing an additional 68,380 shares in the last quarter. 93.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on TTEK shares. National Bank Financial initiated coverage on shares of Tetra Tech in a research report on Wednesday, October 8th. They set an “outperform” rating and a $41.00 price objective for the company. KeyCorp increased their target price on shares of Tetra Tech from $41.00 to $43.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Weiss Ratings restated a “hold (c)” rating on shares of Tetra Tech in a research report on Wednesday, October 8th. Northcoast Research reaffirmed a “neutral” rating on shares of Tetra Tech in a report on Wednesday, October 1st. Finally, Wall Street Zen upgraded Tetra Tech from a “hold” rating to a “buy” rating in a research report on Saturday, October 25th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $41.00.

Tetra Tech Stock Performance

Shares of TTEK stock opened at $31.99 on Wednesday. The company has a market capitalization of $8.41 billion, a price-to-earnings ratio of 39.99 and a beta of 0.96. Tetra Tech, Inc. has a 1-year low of $27.27 and a 1-year high of $48.48. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.50. The stock’s fifty day simple moving average is $33.94 and its 200-day simple moving average is $35.11.

Insider Transactions at Tetra Tech

In other news, Director Gary Birkenbeuel sold 2,390 shares of Tetra Tech 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 completion of the sale, the director directly owned 37,725 shares in the company, valued at $1,358,100. The trade was a 5.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.40% of the company’s stock.

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.