Ninety One North America Inc. lowered its position in Tetra Tech, Inc. (NASDAQ:TTEK – Free Report) by 25.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 362,377 shares of the industrial products company’s stock after selling 123,390 shares during the quarter. Ninety One North America Inc.’s holdings in Tetra Tech were worth $11,940,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Tetra Tech by 2.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 14,335 shares of the industrial products company’s stock worth $414,000 after acquiring an additional 285 shares during the last quarter. Optas LLC raised its stake in shares of Tetra Tech by 2.6% during the 1st quarter. Optas LLC now owns 12,803 shares of the industrial products company’s stock worth $386,000 after acquiring an additional 330 shares in the last quarter. Parallel Advisors LLC lifted its holdings in shares of Tetra Tech by 8.1% during the 1st quarter. Parallel Advisors LLC now owns 4,799 shares of the industrial products company’s stock valued at $145,000 after purchasing an additional 359 shares during the last quarter. Evexia Wealth LLC grew its stake in shares of Tetra Tech by 3.2% during the first quarter. Evexia Wealth LLC now owns 20,115 shares of the industrial products company’s stock worth $624,000 after acquiring an additional 618 shares during the last quarter. Finally, Assetmark Inc. increased its position in shares of Tetra Tech by 18.5% in the 1st quarter. Assetmark Inc. now owns 4,697 shares of the industrial products company’s stock valued at $141,000 after acquiring an additional 733 shares during the period. 93.89% of the stock is owned by hedge funds and other institutional investors.
Tetra Tech Stock Performance
Shares of TTEK stock traded up $0.89 during trading hours on Thursday, hitting $34.50. The stock had a trading volume of 904,139 shares, compared to its average volume of 2,948,291. Tetra Tech, Inc. has a twelve month low of $25.81 and a twelve month high of $43.14. The stock’s 50 day moving average is $35.26 and its 200 day moving average is $31.82. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.18 and a quick ratio of 1.18. The firm has a market capitalization of $8.83 billion, a PE ratio of 20.76 and a beta of 0.95.
Tetra Tech Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 27th. Stockholders of record on Thursday, August 13th were given a $0.0720 dividend. The ex-dividend date was Thursday, August 13th. This represents a $0.29 annualized dividend and a dividend yield of 0.8%. Tetra Tech’s dividend payout ratio is currently 17.47%.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on the company. Royal Bank Of Canada cut their price target on Tetra Tech from $46.00 to $44.00 and set an “outperform” rating on the stock in a research report on Thursday. Wall Street Zen raised shares of Tetra Tech from a “hold” rating to a “buy” rating in a research note on Saturday, September 26th. National Bank Financial cut their target price on Tetra Tech from $38.00 to $35.00 and set an “outperform” rating for the company in a research note on Monday, July 13th. Weiss Ratings raised Tetra Tech from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, August 7th. Finally, KeyCorp reaffirmed an “overweight” rating and issued a $41.00 target price (down from $43.00) on shares of Tetra Tech in a research report on Thursday. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $39.00.
View Our Latest Analysis on TTEK
Tetra Tech Company Profile
Tetra Tech, Inc is a consulting and engineering services company that helps government and commercial clients address complex challenges involving water, the environment, infrastructure, energy and natural resources. Its work includes planning, design, program management, engineering, scientific analysis and technical advisory services.
The company provides services across the water life cycle, including water supply, wastewater treatment, flood management and watershed planning. It also supports environmental restoration and compliance, climate resilience, sustainable infrastructure, renewable energy, disaster recovery and national security programs.
Founded in 1966, Tetra Tech serves clients in the United States and internationally.
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