Mirae Asset Global Investments Co. Ltd. Grows Position in Tetra Tech, Inc. (NASDAQ:TTEK)

Mirae Asset Global Investments Co. Ltd. increased its position in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 356.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,050 shares of the industrial products company’s stock after buying an additional 820 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Tetra Tech were worth $49,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Allworth Financial LP grew its stake in Tetra Tech by 629.3% during the 3rd quarter. Allworth Financial LP now owns 547 shares of the industrial products company’s stock worth $26,000 after buying an additional 472 shares during the last quarter. Banque Cantonale Vaudoise acquired a new stake in Tetra Tech during the 2nd quarter worth approximately $28,000. USA Financial Formulas lifted its position in Tetra Tech by 332.3% during the 3rd quarter. USA Financial Formulas now owns 709 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 545 shares during the period. Rise Advisors LLC lifted its position in Tetra Tech by 402.1% during the 3rd quarter. Rise Advisors LLC now owns 723 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 579 shares during the period. Finally, Sound Income Strategies LLC lifted its position in Tetra Tech by 400.0% during the 3rd quarter. Sound Income Strategies LLC now owns 725 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 580 shares during the period. Hedge funds and other institutional investors own 93.89% of the company’s stock.

Tetra Tech Stock Up 2.3 %

TTEK opened at $50.35 on Wednesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.21 and a quick ratio of 1.21. The business has a 50 day simple moving average of $47.79 and a 200-day simple moving average of $44.13. The stock has a market capitalization of $13.48 billion, a P/E ratio of 46.62 and a beta of 0.94. Tetra Tech, Inc. has a 12 month low of $30.08 and a 12 month high of $50.69.

Wall Street Analyst Weigh In

A number of research firms have weighed in on TTEK. 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 increased their price objective on Tetra Tech from $46.60 to $51.80 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. KeyCorp increased their price objective on Tetra Tech from $49.00 to $56.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Finally, Robert W. Baird raised their price target on Tetra Tech from $44.60 to $46.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $50.48.

Insider Buying and Selling

In related news, CFO Steven M. Burdick sold 36,830 shares of Tetra Tech stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $46.57, for a total transaction of $1,715,173.10. Following the completion of the transaction, the chief financial officer now directly owns 112,620 shares of the company’s stock, valued at approximately $5,244,713.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CFO Steven M. Burdick sold 36,830 shares of Tetra Tech stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $46.57, for a total transaction of $1,715,173.10. Following the completion of the transaction, the chief financial officer now directly owns 112,620 shares of the company’s stock, valued at approximately $5,244,713.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Leslie L. Shoemaker sold 78,420 shares of Tetra Tech stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $46.11, for a total value of $3,615,946.20. Following the transaction, the executive vice president now directly owns 296,015 shares of the company’s stock, valued at approximately $13,649,251.65. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 121,750 shares of company stock valued at $5,633,239. 0.61% of the stock is owned by 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.