Jacobs Levy Equity Management Inc. Makes New Investment in Tetra Tech, Inc. (NASDAQ:TTEK)

Jacobs Levy Equity Management Inc. bought a new position in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 248,001 shares of the industrial products company's stock, valued at approximately $11,696,000. Jacobs Levy Equity Management Inc. owned about 0.09% of Tetra Tech as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allworth Financial LP grew its stake in shares of Tetra Tech by 629.3% in 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 grew its stake in shares of Tetra Tech by 400.0% in the third quarter. LGT Financial Advisors LLC now owns 555 shares of the industrial products company's stock valued at $26,000 after buying an additional 444 shares in the last quarter. Banque Cantonale Vaudoise acquired a new stake in shares of Tetra Tech in the second quarter valued at $28,000. Venturi Wealth Management LLC grew its stake in shares of Tetra Tech by 3,261.1% in the third quarter. Venturi Wealth Management LLC now owns 605 shares of the industrial products company's stock valued at $29,000 after buying an additional 587 shares in the last quarter. Finally, Canton Hathaway LLC grew its stake in shares of Tetra Tech by 400.0% in the third quarter. Canton Hathaway LLC now owns 645 shares of the industrial products company's stock valued at $30,000 after buying an additional 516 shares in the last quarter. Institutional investors and hedge funds own 93.89% of the company's stock.

Tetra Tech Stock Up 0.3 %

NASDAQ TTEK traded up $0.14 during trading on Thursday, reaching $42.94. 3,003,558 shares of the company's stock were exchanged, compared to its average volume of 1,520,563. The stock has a market cap of $11.50 billion, a P/E ratio of 34.74 and a beta of 0.88. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.25 and a current ratio of 1.25. The company has a 50 day moving average price of $46.29 and a two-hundred day moving average price of $44.58. Tetra Tech, Inc. has a 1 year low of $31.61 and a 1 year high of $51.20.

Tetra Tech Dividend Announcement

The firm 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 dividend of $0.058 per share. This represents a $0.23 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date is Wednesday, November 27th. Tetra Tech's dividend payout ratio (DPR) is 18.67%.

Insiders Place Their Bets

In other news, Director Kimberly E. Ritrievi sold 6,500 shares of the business's stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $46.48, for a total value of $302,120.00. Following the completion of the sale, the director now directly owns 143,200 shares of the company's stock, valued at approximately $6,655,936. The trade was a 4.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Steven M. Burdick sold 36,830 shares of the business's stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $46.57, for a total value of $1,715,173.10. Following the completion of the sale, the chief financial officer now directly owns 112,620 shares of the company's stock, valued at $5,244,713.40. The trade was a 24.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 121,750 shares of company stock valued at $5,633,239 in the last ninety days. Insiders own 0.61% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on TTEK shares. KeyCorp dropped their price objective on Tetra Tech from $56.00 to $49.00 and set an "overweight" rating for the company in a research note on Friday, November 15th. Robert W. Baird lifted their target price on Tetra Tech from $46.00 to $47.00 and gave the company a "neutral" rating in a report on Thursday, November 14th. Royal Bank of Canada reiterated an "outperform" rating and issued a $52.00 target price on shares of Tetra Tech in a report on Friday, November 15th. Finally, StockNews.com lowered Tetra Tech from a "buy" rating to a "hold" rating in a report on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, Tetra Tech currently has an average rating of "Moderate Buy" and an average target price of $49.32.

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.