Tetra Tech, Inc. (NASDAQ:TTEK) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. cut its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 30.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,850,987 shares of the industrial products company's stock after selling 3,485,428 shares during the quarter. Alliancebernstein L.P. owned about 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 the company. Geode Capital Management LLC lifted its stake 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 buying an additional 3,785,189 shares during the period. Norges Bank acquired a new position in shares of Tetra Tech in the fourth quarter valued at $121,390,000. King Luther Capital Management Corp lifted its holdings in Tetra Tech by 324.0% during 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 purchasing an additional 976,810 shares during the last quarter. Wellington Management Group LLP raised its stake in Tetra Tech by 365.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,077,828 shares of the industrial products company's stock worth $50,830,000 after purchasing an additional 846,284 shares in the last quarter. Finally, Teacher Retirement System of Texas grew its holdings in shares of Tetra Tech by 130.8% during the 4th quarter. Teacher Retirement System of Texas now owns 1,383,025 shares of the industrial products company's stock worth $55,100,000 after purchasing an additional 783,736 shares in the last quarter. 93.89% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TTEK has been the subject of several recent research reports. KeyCorp lowered their price objective on Tetra Tech from $49.00 to $45.00 and set an "overweight" rating for the company in a research note on Friday, January 31st. Maxim Group lowered Tetra Tech from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Finally, Royal Bank of Canada set a $49.00 price target on Tetra Tech in a report on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $47.92.

Insider Activity at Tetra Tech

In other news, Director Kirsten M. Volpi sold 10,116 shares of the company'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 value of $347,282.28. Following the transaction, the director now directly owns 60,196 shares in the company, valued at approximately $2,066,528.68. This represents a 14.39 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.40% of the stock is owned by corporate insiders.

Tetra Tech Stock Performance

Shares of TTEK stock traded down $0.91 during mid-day trading on Friday, reaching $29.10. 2,658,646 shares of the company's stock traded hands, compared to its average volume of 1,980,660. The firm has a market capitalization of $7.80 billion, a PE ratio of 30.57 and a beta of 0.93. Tetra Tech, Inc. has a 12 month low of $28.17 and a 12 month high of $51.20. The firm has a 50 day moving average price of $31.02 and a two-hundred day moving average price of $39.63. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.29 and a current ratio of 1.29.

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 for the quarter, beating 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%. On average, research analysts forecast 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 was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were given 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 0.80%. Tetra Tech's dividend payout ratio (DPR) is currently 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.