Tributary Capital Management LLC Grows Stake in Tetra Tech, Inc. (NASDAQ:TTEK)

Tributary Capital Management LLC grew its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 405.0% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 25,109 shares of the industrial products company’s stock after acquiring an additional 20,137 shares during the quarter. Tributary Capital Management LLC’s holdings in Tetra Tech were worth $1,184,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Tetra Tech by 0.3% in the first quarter. Vanguard Group Inc. now owns 5,168,554 shares of the industrial products company’s stock worth $954,684,000 after buying an additional 14,701 shares during the period. Sarasin & Partners LLP raised its position in shares of Tetra Tech by 330.9% in the 3rd quarter. Sarasin & Partners LLP now owns 4,950,383 shares of the industrial products company’s stock worth $233,460,000 after acquiring an additional 3,801,435 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Tetra Tech by 387.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,299,418 shares of the industrial products company’s stock valued at $155,601,000 after purchasing an additional 2,622,288 shares during the period. Copeland Capital Management LLC boosted its position in shares of Tetra Tech by 289.0% during the third quarter. Copeland Capital Management LLC now owns 1,824,250 shares of the industrial products company’s stock valued at $86,032,000 after purchasing an additional 1,355,351 shares in the last quarter. Finally, Vontobel Holding Ltd. boosted its position in shares of Tetra Tech by 409.4% during the third quarter. Vontobel Holding Ltd. now owns 1,425,589 shares of the industrial products company’s stock valued at $67,231,000 after purchasing an additional 1,145,738 shares in the last quarter. Institutional investors own 93.89% of the company’s stock.

Tetra Tech Stock Performance

Shares of Tetra Tech stock opened at $50.52 on Wednesday. Tetra Tech, Inc. has a 1 year low of $29.09 and a 1 year high of $50.69. The firm’s 50-day moving average is $47.45 and its 200 day moving average is $43.66. The stock has a market cap of $2.70 billion, a price-to-earnings ratio of 10.23 and a beta of 0.94. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.21 and a quick ratio of 1.21.

Tetra Tech (NASDAQ:TTEK) last posted its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. The firm had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Tetra Tech had a net margin of 5.72% and a return on equity of 21.50%. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.26 earnings per share. Sell-side analysts anticipate that Tetra Tech, Inc. will post 1.25 EPS for the current fiscal year.

Insider Buying and Selling at Tetra Tech

In other news, CEO Dan L. Batrack sold 89,620 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $45.54, for a total value of $4,081,653.28. Following the completion of the transaction, the chief executive officer now owns 124,380 shares in the company, valued at $5,664,762.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Tetra Tech news, EVP Leslie L. Shoemaker sold 78,420 shares of Tetra Tech stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $46.11, for a total value of $3,615,946.20. Following the completion of the sale, the executive vice president now owns 296,015 shares of the company’s stock, valued at approximately $13,649,251.65. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Dan L. Batrack sold 89,620 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $45.54, for a total value of $4,081,653.28. Following the transaction, the chief executive officer now directly owns 124,380 shares in the company, valued at $5,664,762.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 236,370 shares of company stock worth $10,880,243. Insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on TTEK shares. StockNews.com raised Tetra Tech from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Royal Bank of Canada lifted their price target on shares of Tetra Tech from $46.60 to $51.80 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Robert W. Baird upped their price objective on shares of Tetra Tech from $44.60 to $46.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Finally, KeyCorp lifted their target price on shares of Tetra Tech from $49.00 to $56.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $50.48.

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.