Tetra Tech, Inc. (NASDAQ:TTEK) Position Lessened by Alliancebernstein L.P.

Alliancebernstein L.P. decreased its position in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 30.7% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 7,850,987 shares of the industrial products company's stock after selling 3,485,428 shares during the period. Alliancebernstein L.P. owned 2.93% of Tetra Tech worth $312,783,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TTEK. Geode Capital Management LLC grew its holdings in Tetra Tech by 406.6% in the third quarter. Geode Capital Management LLC now owns 4,716,080 shares of the industrial products company's stock valued at $222,466,000 after purchasing an additional 3,785,189 shares during the period. Norges Bank acquired a new stake in shares of Tetra Tech during the 4th quarter worth $121,390,000. King Luther Capital Management Corp raised its position in shares of Tetra Tech by 324.0% in the 4th quarter. King Luther Capital Management Corp now owns 1,278,295 shares of the industrial products company's stock worth $50,927,000 after buying an additional 976,810 shares during the period. Wellington Management Group LLP grew its position in Tetra Tech by 365.5% during the third quarter. Wellington Management Group LLP now owns 1,077,828 shares of the industrial products company's stock valued at $50,830,000 after acquiring an additional 846,284 shares during the period. Finally, Teacher Retirement System of Texas increased its stake in Tetra Tech by 130.8% during the fourth quarter. Teacher Retirement System of Texas now owns 1,383,025 shares of the industrial products company's stock worth $55,100,000 after acquiring an additional 783,736 shares during the last quarter. 93.89% of the stock is owned by hedge funds and other institutional investors.

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Tetra Tech Stock Down 2.7 %

Shares of Tetra Tech stock traded down $0.82 on Thursday, hitting $30.01. 3,185,775 shares of the company's stock traded hands, compared to its average volume of 1,973,477. Tetra Tech, Inc. has a 52-week low of $28.17 and a 52-week high of $51.20. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.53. The stock has a market cap of $8.04 billion, a P/E ratio of 31.52 and a beta of 0.93. The firm's 50-day moving average is $31.39 and its 200 day moving average is $39.82.

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 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 analysts anticipate that Tetra Tech, Inc. will post 1.37 earnings per share for the current year.

Tetra Tech Announces Dividend

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

Insider Transactions at Tetra Tech

In other Tetra Tech news, Director Kirsten M. Volpi sold 10,116 shares of Tetra Tech stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $34.33, for a total value of $347,282.28. Following the completion of the transaction, the director now owns 60,196 shares of the company's stock, valued at $2,066,528.68. The trade was a 14.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.40% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TTEK. Royal Bank of Canada set a $49.00 target price on Tetra Tech in a report on Friday, January 31st. Maxim Group downgraded shares of Tetra Tech from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. Finally, KeyCorp decreased 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 analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $47.92.

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.