abrdn plc Increases Position in Tetra Tech, Inc. (NASDAQ:TTEK)

abrdn plc increased its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 7.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 2,269,777 shares of the industrial products company’s stock after acquiring an additional 159,701 shares during the period. abrdn plc’s holdings in Tetra Tech were worth $90,031,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of TTEK. Sarasin & Partners LLP boosted its stake 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 purchasing an additional 3,801,435 shares during the period. Geode Capital Management LLC boosted its position in Tetra Tech by 406.6% in 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 buying an additional 3,785,189 shares during the period. Allspring Global Investments Holdings LLC increased its position 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 worth $155,601,000 after acquiring an additional 2,622,288 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Tetra Tech by 357.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,070,483 shares of the industrial products company’s stock worth $97,644,000 after acquiring an additional 1,618,211 shares during the period. Finally, Copeland Capital Management LLC raised its stake 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 acquiring an additional 1,355,351 shares in the last quarter. Hedge funds and other institutional investors own 93.89% of the company’s stock.

Tetra Tech Price Performance

TTEK opened at $34.54 on Wednesday. The firm has a market capitalization of $9.26 billion, a PE ratio of 36.28 and a beta of 0.89. The business’s 50-day moving average is $40.46 and its two-hundred day moving average is $44.11. Tetra Tech, Inc. has a 1 year low of $31.09 and a 1 year high of $51.20. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.29 and a quick ratio of 1.25.

Tetra Tech (NASDAQ:TTEK) last posted its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.34 by $0.01. Tetra Tech had a net margin of 4.81% and a return on equity of 22.58%. Research analysts anticipate that Tetra Tech, Inc. will post 1.37 earnings per share for the current fiscal year.

Tetra Tech Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th will be paid a dividend of $0.058 per share. The ex-dividend date is Wednesday, February 12th. This represents a $0.23 annualized dividend and a yield of 0.67%. Tetra Tech’s dividend payout ratio (DPR) is 24.16%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. KeyCorp reduced their price objective on Tetra Tech from $49.00 to $45.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Royal Bank of Canada restated an “outperform” rating and set a $52.00 price target on shares of Tetra Tech in a research note on Friday, November 15th. StockNews.com cut shares of Tetra Tech from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Finally, Robert W. Baird boosted their price target 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. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $48.52.

Tetra Tech Company 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.