Allspring Global Investments Holdings LLC Reduces Stock Holdings in Tetra Tech, Inc. (NASDAQ:TTEK)

Allspring Global Investments Holdings LLC cut its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 5.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 3,129,763 shares of the industrial products company’s stock after selling 169,655 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Tetra Tech were worth $124,812,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in TTEK. Allworth Financial LP raised its stake in Tetra Tech by 629.3% during the third quarter. Allworth Financial LP now owns 547 shares of the industrial products company’s stock valued at $26,000 after buying an additional 472 shares in the last quarter. LGT Financial Advisors LLC increased its holdings in shares of Tetra Tech by 400.0% in the 3rd quarter. LGT Financial Advisors LLC now owns 555 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 444 shares during the last quarter. Venturi Wealth Management LLC raised its position in shares of Tetra Tech by 3,261.1% during the 3rd quarter. Venturi Wealth Management LLC now owns 605 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 587 shares in the last quarter. Canton Hathaway LLC lifted its stake in Tetra Tech by 400.0% during the third quarter. Canton Hathaway LLC now owns 645 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 516 shares during the last quarter. Finally, Banque Cantonale Vaudoise boosted its holdings in Tetra Tech by 400.0% in the third quarter. Banque Cantonale Vaudoise now owns 695 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 556 shares during the period. Hedge funds and other institutional investors own 93.89% of the company’s stock.

Tetra Tech Trading Down 2.9 %

Shares of TTEK stock opened at $32.25 on Wednesday. Tetra Tech, Inc. has a 1 year low of $31.09 and a 1 year high of $51.20. The firm has a market capitalization of $8.64 billion, a PE ratio of 33.88 and a beta of 0.89. The stock has a fifty day moving average of $39.63 and a two-hundred day moving average of $43.85. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.25 and a current ratio of 1.29.

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, beating analysts’ consensus estimates of $0.34 by $0.01. Tetra Tech had a net margin of 4.81% and a return on equity of 22.58%. As a group, research analysts expect 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. Stockholders of record on Wednesday, February 12th will be issued a $0.058 dividend. The ex-dividend date is Wednesday, February 12th. This represents a $0.23 annualized dividend and a dividend yield of 0.72%. Tetra Tech’s dividend payout ratio (DPR) is 24.16%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on TTEK shares. Robert W. Baird boosted their price objective on shares of Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Royal Bank of Canada reiterated an “outperform” rating and set a $52.00 price target on shares of Tetra Tech in a research report on Friday, November 15th. StockNews.com lowered Tetra Tech from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. KeyCorp dropped their target price on Tetra Tech from $49.00 to $45.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Finally, Maxim Group cut Tetra Tech from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $48.52.

Insider Activity at Tetra Tech

In related news, Director Kirsten M. Volpi sold 10,116 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $34.33, for a total transaction of $347,282.28. Following the completion of the sale, the director now directly owns 60,196 shares in the company, valued at approximately $2,066,528.68. This trade represents a 14.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.40% of the company’s stock.

About Tetra Tech

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.