Tidal Investments LLC Acquires 8,134 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

Tidal Investments LLC grew its holdings in Tetra Tech, Inc. (NASDAQ:TTEK) by 226.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 11,722 shares of the industrial products company’s stock after purchasing an additional 8,134 shares during the period. Tidal Investments LLC’s holdings in Tetra Tech were worth $553,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Sarasin & Partners LLP grew its position in Tetra Tech by 330.9% in the third quarter. Sarasin & Partners LLP now owns 4,950,383 shares of the industrial products company’s stock valued at $233,460,000 after acquiring an additional 3,801,435 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Tetra Tech by 406.6% during the 3rd quarter. Geode Capital Management LLC now owns 4,716,080 shares of the industrial products company’s stock valued at $222,466,000 after purchasing an additional 3,785,189 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in Tetra Tech by 387.3% during 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 purchasing an additional 2,622,288 shares in the last quarter. abrdn plc lifted its stake in Tetra Tech by 353.0% in 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 during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Tetra Tech by 357.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,070,483 shares of the industrial products company’s stock valued at $97,644,000 after buying an additional 1,618,211 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 research analysts recently weighed in on the company. Royal Bank of Canada reissued an “outperform” rating and set a $52.00 price objective on shares of Tetra Tech in a report on Friday, November 15th. KeyCorp reduced their price target on Tetra Tech from $56.00 to $49.00 and set an “overweight” rating on the stock in a report on Friday, November 15th. Robert W. Baird raised their price objective 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, StockNews.com lowered shares of Tetra Tech from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Tetra Tech has a consensus rating of “Moderate Buy” and an average price target of $49.32.

Tetra Tech Price Performance

Shares of NASDAQ:TTEK opened at $40.20 on Monday. The stock’s 50 day moving average is $44.79 and its 200-day moving average is $44.46. Tetra Tech, Inc. has a twelve month low of $31.61 and a twelve month high of $51.20. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $10.76 billion, a price-to-earnings ratio of 32.63 and a beta of 0.88.

Tetra Tech Dividend Announcement

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