Fifth Third Wealth Advisors LLC lifted its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK – Free Report) by 403.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,140 shares of the industrial products company’s stock after acquiring an additional 7,325 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Tetra Tech were worth $431,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Tetra Tech by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 5,168,554 shares of the industrial products company’s stock worth $954,684,000 after acquiring an additional 14,701 shares in the last quarter. Sarasin & Partners LLP grew its holdings in shares of Tetra Tech by 330.9% during 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 buying an additional 3,801,435 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Tetra Tech by 387.3% during the third 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 buying an additional 2,622,288 shares in the last quarter. abrdn plc grew its holdings in shares of Tetra Tech by 353.0% during the third quarter. abrdn plc now owns 2,110,076 shares of the industrial products company’s stock valued at $98,477,000 after buying an additional 1,644,267 shares in the last quarter. Finally, Copeland Capital Management LLC grew its holdings in shares of 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 buying an additional 1,355,351 shares in the last quarter. 93.89% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of research analysts have recently weighed in on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $52.00 price target on shares of Tetra Tech in a report on Friday, November 15th. StockNews.com downgraded Tetra Tech from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Robert W. Baird boosted their target price on Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Finally, KeyCorp lowered their target price on Tetra Tech from $56.00 to $49.00 and set an “overweight” rating on the stock in a research note on Friday, November 15th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $49.32.
Insider Buying and Selling at Tetra Tech
In other news, EVP Leslie L. Shoemaker sold 78,420 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 296,015 shares in the company, valued at approximately $13,649,251.65. This represents a 20.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Kimberly E. Ritrievi sold 6,500 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $46.48, for a total value of $302,120.00. Following the sale, the director now owns 143,200 shares in the company, valued at approximately $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. Insiders sold a total of 121,750 shares of company stock valued at $5,633,239 in the last quarter. Corporate insiders own 0.61% of the company’s stock.
Tetra Tech Price Performance
NASDAQ TTEK opened at $40.22 on Thursday. Tetra Tech, Inc. has a twelve month low of $30.92 and a twelve month high of $51.20. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.21 and a current ratio of 1.25. The stock has a market capitalization of $10.77 billion, a PE ratio of 32.65 and a beta of 0.94. The stock has a 50-day simple moving average of $47.27 and a 200 day simple moving average of $44.63.
Tetra Tech Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th will be issued a $0.058 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $0.23 annualized dividend and a yield of 0.58%. Tetra Tech’s dividend payout ratio (DPR) is 18.67%.
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.
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