Hsbc Holdings PLC Buys 89,114 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

Hsbc Holdings PLC increased its position in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 24.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 457,058 shares of the industrial products company’s stock after purchasing an additional 89,114 shares during the quarter. Hsbc Holdings PLC owned 0.17% of Tetra Tech worth $18,159,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of TTEK. R Squared Ltd acquired a new stake in shares of Tetra Tech during the 4th quarter worth approximately $39,000. Asset Planning Inc acquired a new stake in shares of Tetra Tech in the 4th quarter valued at $40,000. Jones Financial Companies Lllp raised its holdings in shares of Tetra Tech by 98.0% during the 4th quarter. Jones Financial Companies Lllp now owns 1,000 shares of the industrial products company’s stock worth $40,000 after buying an additional 495 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Tetra Tech by 235.8% during the 4th quarter. Blue Trust Inc. now owns 1,444 shares of the industrial products company’s stock worth $58,000 after buying an additional 1,014 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. acquired a new stake in Tetra Tech in the fourth quarter valued at about $63,000. 93.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Tetra Tech Stock Down 0.9 %

Shares of TTEK opened at $31.21 on Friday. The company has a market capitalization of $8.37 billion, a PE ratio of 32.78 and a beta of 0.89. The stock’s 50-day moving average price is $29.63 and its two-hundred day moving average price is $37.58. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.53. Tetra Tech, Inc. has a 12 month low of $27.27 and a 12 month high of $51.20.

Tetra Tech (NASDAQ:TTEK) last released its earnings results on Wednesday, January 29th. The industrial products company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. Tetra Tech had a net margin of 4.81% and a return on equity of 22.58%. On average, analysts anticipate that Tetra Tech, Inc. will post 1.37 EPS for the current year.

Tetra Tech Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were paid a $0.058 dividend. This represents a $0.23 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date was Wednesday, February 12th. Tetra Tech’s dividend payout ratio is 24.21%.

Insider Activity at Tetra Tech

In related news, Director Kirsten M. Volpi sold 10,116 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $34.33, for a total transaction of $347,282.28. Following the transaction, the director now directly owns 60,196 shares of the company’s stock, valued at $2,066,528.68. This represents a 14.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.40% of the stock is owned by corporate insiders.

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.