Tetra Tech, Inc. (NASDAQ:TTEK) Stock Holdings Lifted by abrdn plc

abrdn plc grew its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 7.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,269,777 shares of the industrial products company's stock after purchasing an additional 159,701 shares during the period. abrdn plc owned approximately 0.85% of Tetra Tech worth $90,031,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TTEK. Sarasin & Partners LLP raised its stake in Tetra Tech by 330.9% in the 3rd quarter. Sarasin & Partners LLP now owns 4,950,383 shares of the industrial products company's stock worth $233,460,000 after acquiring an additional 3,801,435 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Tetra Tech by 406.6% during 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 last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Tetra Tech by 387.3% during the 3rd 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 during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of 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 buying an additional 1,618,211 shares during the last quarter. Finally, Copeland Capital Management LLC raised its stake in shares of Tetra Tech by 289.0% during the 3rd 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 during the last quarter. Hedge funds and other institutional investors own 93.89% of the company's stock.

Insider Buying and Selling

In related news, Director Kirsten M. Volpi sold 10,116 shares of the 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 completion of the transaction, 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 SEC, which is available at this link. Insiders own 0.40% of the company's stock.

Tetra Tech Trading Down 1.1 %

NASDAQ TTEK traded down $0.38 on Friday, reaching $33.40. The stock had a trading volume of 4,317,914 shares, compared to its average volume of 4,005,325. The firm has a market capitalization of $8.95 billion, a price-to-earnings ratio of 35.08 and a beta of 0.89. The company has a quick ratio of 1.25, a current ratio of 1.29 and a debt-to-equity ratio of 0.53. Tetra Tech, Inc. has a 12-month low of $31.09 and a 12-month high of $51.20. The stock has a fifty day moving average price of $40.00 and a two-hundred day moving average price of $43.97.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last announced its earnings results on Wednesday, January 29th. The industrial products company reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.34 by $0.01. Tetra Tech had a return on equity of 22.58% and a net margin of 4.81%. As a group, sell-side analysts forecast that Tetra Tech, Inc. will post 1.37 EPS for the current fiscal year.

Tetra Tech Dividend Announcement

The company 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 dividend on an annualized basis and a dividend yield of 0.69%. Tetra Tech's payout ratio is currently 24.16%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on TTEK shares. StockNews.com cut Tetra Tech from a "buy" rating to a "hold" rating in a research report on Friday, November 15th. Robert W. Baird lifted their price objective on Tetra Tech from $46.00 to $47.00 and gave the stock a "neutral" rating in a report on Thursday, November 14th. Maxim Group cut Tetra Tech from a "buy" rating to a "hold" rating in a report on Thursday. KeyCorp lowered 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. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $52.00 price objective on shares of Tetra Tech 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 company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target 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.