Central Pacific Bank Trust Division Sells 3,466 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

Central Pacific Bank Trust Division lowered its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 20.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 13,829 shares of the industrial products company’s stock after selling 3,466 shares during the period. Central Pacific Bank Trust Division’s holdings in Tetra Tech were worth $551,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in TTEK. Natixis Advisors LLC raised its holdings in Tetra Tech by 17.1% in the 2nd quarter. Natixis Advisors LLC now owns 16,601 shares of the industrial products company’s stock valued at $3,395,000 after acquiring an additional 2,419 shares in the last quarter. CIBC Asset Management Inc raised its stake in shares of Tetra Tech by 4.8% in the second quarter. CIBC Asset Management Inc now owns 1,524 shares of the industrial products company’s stock valued at $312,000 after purchasing an additional 70 shares in the last quarter. VELA Investment Management LLC lifted its position in Tetra Tech by 10.6% in the second quarter. VELA Investment Management LLC now owns 7,278 shares of the industrial products company’s stock worth $1,488,000 after purchasing an additional 700 shares during the period. Victory Capital Management Inc. boosted its stake in Tetra Tech by 0.8% during the second quarter. Victory Capital Management Inc. now owns 11,229 shares of the industrial products company’s stock worth $2,296,000 after buying an additional 86 shares in the last quarter. Finally, Arizona State Retirement System increased its holdings in Tetra Tech by 2.3% in the 2nd quarter. Arizona State Retirement System now owns 14,967 shares of the industrial products company’s stock valued at $3,060,000 after buying an additional 333 shares during the period. Institutional investors own 93.89% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TTEK. StockNews.com lowered shares of Tetra Tech from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. KeyCorp decreased their price objective on Tetra Tech from $56.00 to $49.00 and set an “overweight” rating on the stock in a report on Friday, November 15th. Royal Bank of Canada restated an “outperform” rating and set a $52.00 target price on shares of Tetra Tech in a research report on Friday, November 15th. Finally, Robert W. Baird lifted their price objective on Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $49.32.

Tetra Tech Trading Up 0.9 %

TTEK stock opened at $40.23 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.25 and a quick ratio of 1.25. The stock has a market capitalization of $10.77 billion, a price-to-earnings ratio of 32.65 and a beta of 0.89. The business has a fifty day moving average price of $43.03 and a 200 day moving average price of $44.35. Tetra Tech, Inc. has a fifty-two week low of $31.61 and a fifty-two week high of $51.20.

Tetra Tech Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th were given a $0.058 dividend. This represents a $0.23 annualized dividend and a yield of 0.58%. The ex-dividend date was Wednesday, November 27th. Tetra Tech’s payout ratio is presently 18.70%.

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.