Tetra Tech, Inc. (NASDAQ:TTEK) Given Average Rating of “Moderate Buy” by Analysts

Shares of Tetra Tech, Inc. (NASDAQ:TTEK) have received an average rating of “Moderate Buy” from the five ratings firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $49.32.

Several equities research analysts recently issued reports on TTEK shares. KeyCorp dropped their price target on Tetra Tech from $56.00 to $49.00 and set an “overweight” rating on the stock in a research report on Friday. StockNews.com cut shares of Tetra Tech from a “buy” rating to a “hold” rating in a report on Friday. Robert W. Baird raised their price target on shares of Tetra Tech from $46.00 to $47.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $52.00 price objective on shares of Tetra Tech in a research report on Friday.

Tetra Tech Trading Up 0.8 %

Shares of NASDAQ TTEK opened at $41.27 on Monday. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.52. The stock’s 50 day moving average price is $47.60 and its two-hundred day moving average price is $44.58. Tetra Tech has a 52-week low of $30.92 and a 52-week high of $51.20. The stock has a market capitalization of $11.05 billion, a P/E ratio of 33.50 and a beta of 0.94.

Tetra Tech Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th will be issued a dividend of $0.058 per share. This represents a $0.23 annualized dividend and a dividend yield of 0.56%. The ex-dividend date of this dividend is Wednesday, November 27th. Tetra Tech’s dividend payout ratio (DPR) is 18.67%.

Insider Transactions at Tetra Tech

In related news, Director Kimberly E. Ritrievi sold 6,500 shares of the stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $46.48, for a total value of $302,120.00. Following the completion of the transaction, the director now owns 143,200 shares in the company, valued at $6,655,936. This represents a 4.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Steven M. Burdick sold 36,830 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now owns 112,620 shares in the company, valued at $5,244,713.40. This trade represents a 24.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 121,750 shares of company stock worth $5,633,239. Insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On Tetra Tech

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sarasin & Partners LLP raised its stake 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 buying an additional 3,801,435 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in 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 acquiring an additional 2,622,288 shares during the last quarter. abrdn plc boosted its position in shares of Tetra Tech by 353.0% during the 3rd quarter. abrdn plc now owns 2,110,076 shares of the industrial products company’s stock valued at $98,477,000 after purchasing an additional 1,644,267 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Tetra Tech by 357.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,070,483 shares of the industrial products company’s stock worth $97,644,000 after purchasing an additional 1,618,211 shares during the last quarter. Finally, Copeland Capital Management LLC raised its holdings in shares of Tetra Tech by 289.0% in the 3rd quarter. Copeland Capital Management LLC now owns 1,824,250 shares of the industrial products company’s stock worth $86,032,000 after purchasing an additional 1,355,351 shares in the last quarter. 93.89% of the stock is owned by institutional investors.

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.