Retirement Systems of Alabama Has $14.99 Million Stock Holdings in Tetra Tech, Inc. (NASDAQ:TTEK)

Retirement Systems of Alabama lowered its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 3.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 376,288 shares of the industrial products company’s stock after selling 14,188 shares during the period. Retirement Systems of Alabama’s holdings in Tetra Tech were worth $14,991,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Sarasin & Partners LLP raised its holdings in 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 worth $233,460,000 after buying an additional 3,801,435 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Tetra Tech by 406.6% during the third quarter. Geode Capital Management LLC now owns 4,716,080 shares of the industrial products company’s stock worth $222,466,000 after acquiring an additional 3,785,189 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings 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 acquiring an additional 2,622,288 shares during the last quarter. abrdn plc lifted its position in Tetra Tech by 7.6% in the 4th quarter. abrdn plc now owns 2,269,777 shares of the industrial products company’s stock valued at $90,031,000 after acquiring an additional 159,701 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Tetra Tech by 357.8% during the 3rd 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 purchasing an additional 1,618,211 shares during the last quarter. Institutional investors own 93.89% of the company’s stock.

Insiders Place Their Bets

In other Tetra Tech news, Director Kirsten M. Volpi sold 10,116 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $34.33, for a total transaction of $347,282.28. Following the sale, the director now directly owns 60,196 shares of the company’s stock, valued at $2,066,528.68. This represents a 14.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.40% of the company’s stock.

Tetra Tech Trading Down 1.1 %

NASDAQ TTEK opened at $33.40 on Friday. The business’s fifty day moving average is $40.16 and its 200-day moving average is $44.02. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.29 and a quick ratio of 1.25. The stock has a market capitalization of $8.95 billion, a price-to-earnings ratio of 35.08 and a beta of 0.89. Tetra Tech, Inc. has a one year low of $31.09 and a one year high of $51.20.

Tetra Tech (NASDAQ:TTEK) last announced 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%. Equities research analysts predict that Tetra Tech, Inc. will post 1.37 EPS for the current year.

Tetra Tech Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th will be issued a dividend of $0.058 per share. This represents a $0.23 annualized dividend and a yield of 0.69%. The ex-dividend date is Wednesday, February 12th. Tetra Tech’s dividend payout ratio (DPR) is 24.16%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on TTEK. Robert W. Baird increased their price objective on Tetra Tech from $46.00 to $47.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Maxim Group cut Tetra Tech from a “buy” rating to a “hold” rating in a research note on Thursday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $52.00 price objective on shares of Tetra Tech in a report on Friday, November 15th. KeyCorp lowered their target price on shares of Tetra Tech from $49.00 to $45.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Finally, StockNews.com cut shares of Tetra Tech from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $48.52.

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.