Tetra Tech, Inc. (NASDAQ:TTEK) Shares Bought by Caprock Group LLC

Caprock Group LLC lifted its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 452.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,245 shares of the industrial products company’s stock after purchasing an additional 6,753 shares during the quarter. Caprock Group LLC’s holdings in Tetra Tech were worth $389,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sarasin & Partners LLP boosted its holdings 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 valued at $233,460,000 after purchasing an additional 3,801,435 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position 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 worth $155,601,000 after buying an additional 2,622,288 shares during the period. abrdn plc boosted its holdings in Tetra Tech by 353.0% in the third quarter. abrdn plc now owns 2,110,076 shares of the industrial products company’s stock valued at $98,477,000 after acquiring an additional 1,644,267 shares during the last quarter. Copeland Capital Management LLC grew its position in 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 acquiring an additional 1,355,351 shares during the period. Finally, Vontobel Holding Ltd. increased its stake in 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 worth $67,231,000 after acquiring an additional 1,145,738 shares during the last quarter. Hedge funds and other institutional investors own 93.89% of the company’s stock.

Wall Street Analyst Weigh In

TTEK has been the subject of a number of research reports. Royal Bank of Canada reiterated an “outperform” rating and set a $52.00 target price on shares of Tetra Tech in a report on Friday, November 15th. StockNews.com lowered shares of Tetra Tech from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Robert W. Baird lifted their target price on shares of Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Finally, KeyCorp lowered their price target on Tetra Tech from $56.00 to $49.00 and set an “overweight” rating for the company in a report on Friday, November 15th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $49.32.

Tetra Tech Price Performance

TTEK opened at $40.96 on Friday. Tetra Tech, Inc. has a twelve month low of $30.92 and a twelve month high of $51.20. The company has a current ratio of 1.25, a quick ratio of 1.21 and a debt-to-equity ratio of 0.44. The firm has a market cap of $10.97 billion, a price-to-earnings ratio of 33.25 and a beta of 0.94. The company has a fifty day simple moving average of $47.06 and a 200 day simple moving average of $44.62.

Tetra Tech Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th will be given a dividend of $0.058 per share. This represents a $0.23 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date is Wednesday, November 27th. Tetra Tech’s payout ratio is 18.67%.

Insider Buying and Selling

In other Tetra Tech news, Director Kimberly E. Ritrievi sold 6,500 shares of the stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $46.48, for a total transaction of $302,120.00. Following the transaction, the director now directly owns 143,200 shares in the company, valued at $6,655,936. This represents a 4.34 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 completion of the sale, the chief financial officer now directly owns 112,620 shares of the company’s stock, valued at $5,244,713.40. The trade was a 24.64 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 121,750 shares of company stock worth $5,633,239. 0.61% of the stock is currently owned by corporate 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.