Aigen Investment Management LP Purchases New Position in Tetra Tech, Inc. (NASDAQ:TTEK)

Aigen Investment Management LP bought a new position in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 13,672 shares of the industrial products company's stock, valued at approximately $545,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. New England Research & Management Inc. acquired a new position in Tetra Tech in the fourth quarter valued at approximately $596,000. Nicola Wealth Management LTD. raised its holdings in Tetra Tech by 36.8% in the 4th quarter. Nicola Wealth Management LTD. now owns 65,000 shares of the industrial products company's stock valued at $2,590,000 after buying an additional 17,500 shares during the period. Lecap Asset Management Ltd. lifted its position in Tetra Tech by 71.3% in the fourth quarter. Lecap Asset Management Ltd. now owns 44,769 shares of the industrial products company's stock valued at $1,784,000 after buying an additional 18,635 shares during the last quarter. Y Intercept Hong Kong Ltd boosted its stake in Tetra Tech by 53.3% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 39,150 shares of the industrial products company's stock worth $1,560,000 after buying an additional 13,606 shares during the period. Finally, Perpetual Ltd increased its position in shares of Tetra Tech by 9.6% during the fourth quarter. Perpetual Ltd now owns 215,042 shares of the industrial products company's stock valued at $8,567,000 after acquiring an additional 18,842 shares during the last quarter. 93.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. StockNews.com cut shares of Tetra Tech from a "buy" rating to a "hold" rating in a research report on Friday, November 15th. Robert W. Baird raised their price target on Tetra Tech from $46.00 to $47.00 and gave the stock a "neutral" rating in a research report on Thursday, November 14th. Maxim Group downgraded Tetra Tech from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Royal Bank of Canada set a $49.00 target price on Tetra Tech in a report on Friday, January 31st. Finally, KeyCorp dropped their target price on Tetra Tech from $49.00 to $45.00 and set an "overweight" rating for the company in a research report on Friday, January 31st. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $47.92.

Remove Ads

Insider Activity

In related news, Director Kirsten M. Volpi sold 10,116 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $34.33, for a total value of $347,282.28. Following the transaction, the director now 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 filing with the SEC, which is available through this hyperlink. Company insiders own 0.40% of the company's stock.

Tetra Tech Stock Up 5.1 %

Shares of NASDAQ TTEK traded up $1.45 during mid-day trading on Friday, hitting $30.02. The company had a trading volume of 4,030,036 shares, compared to its average volume of 3,361,846. Tetra Tech, Inc. has a 1-year low of $28.17 and a 1-year high of $51.20. The company has a market capitalization of $8.05 billion, a PE ratio of 31.53 and a beta of 0.93. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.29 and a quick ratio of 1.29. The business's 50-day simple moving average is $35.52 and its 200 day simple moving average is $42.03.

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

Tetra Tech Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were issued a $0.058 dividend. The ex-dividend date was Wednesday, February 12th. This represents a $0.23 dividend on an annualized basis and a dividend yield of 0.77%. Tetra Tech's payout ratio is 24.21%.

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.