Oppenheimer & Co. Inc. Increases Position in Tetra Tech, Inc. (NASDAQ:TTEK)

Oppenheimer & Co. Inc. increased its position in Tetra Tech, Inc. (NASDAQ:TTEK) by 408.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,391 shares of the industrial products company’s stock after acquiring an additional 31,641 shares during the period. Oppenheimer & Co. Inc.’s holdings in Tetra Tech were worth $1,858,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise purchased a new stake in shares of Tetra Tech in the 2nd quarter valued at $28,000. EverSource Wealth Advisors LLC grew its position in Tetra Tech by 561.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 205 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 174 shares during the period. Family Firm Inc. purchased a new position in shares of Tetra Tech during the 2nd quarter valued at about $51,000. Quarry LP acquired a new position in Tetra Tech in the second quarter valued at approximately $54,000. Finally, 1832 Asset Management L.P. boosted its position in Tetra Tech by 125.8% in the 1st quarter. 1832 Asset Management L.P. now owns 271 shares of the industrial products company’s stock worth $50,000 after purchasing an additional 151 shares in the last quarter. Institutional investors and hedge funds own 93.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. StockNews.com lowered shares of Tetra Tech from a “buy” rating to a “hold” rating in a report on Friday. KeyCorp cut their price objective on shares of Tetra Tech from $56.00 to $49.00 and set an “overweight” rating for the company in a report on Friday. Robert W. Baird increased their target price on shares of Tetra Tech from $46.00 to $47.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, 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. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $49.32.

Insiders Place Their Bets

In other Tetra Tech news, EVP Leslie L. Shoemaker sold 78,420 shares of Tetra Tech stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $46.11, for a total transaction of $3,615,946.20. Following the sale, the executive vice president now owns 296,015 shares of the company’s stock, valued at $13,649,251.65. The trade was a 20.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction of $302,120.00. Following the completion of the sale, the director now owns 143,200 shares of the company’s stock, valued at $6,655,936. This trade represents a 4.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 121,750 shares of company stock worth $5,633,239. Corporate insiders own 0.61% of the company’s stock.

Tetra Tech Stock Performance

TTEK opened at $41.27 on Monday. The company has a market cap of $11.05 billion, a price-to-earnings ratio of 33.55 and a beta of 0.94. The firm’s fifty day simple moving average is $47.60 and its two-hundred day simple moving average is $44.58. The company has a quick ratio of 1.21, a current ratio of 1.25 and a debt-to-equity ratio of 0.44. Tetra Tech, Inc. has a 52-week low of $30.92 and a 52-week high of $51.20.

Tetra Tech Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be issued a $0.058 dividend. This represents a $0.23 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend is Wednesday, November 27th. Tetra Tech’s payout ratio is 18.70%.

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.