Allspring Global Investments Holdings LLC Sells 169,655 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

Allspring Global Investments Holdings LLC trimmed its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 5.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,129,763 shares of the industrial products company's stock after selling 169,655 shares during the period. Allspring Global Investments Holdings LLC owned 1.17% of Tetra Tech worth $124,812,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. New England Research & Management Inc. bought a new stake in shares of Tetra Tech during the fourth quarter worth approximately $596,000. Harbor Capital Advisors Inc. raised its stake in shares of Tetra Tech by 630.8% during the third quarter. Harbor Capital Advisors Inc. now owns 36,430 shares of the industrial products company's stock worth $1,718,000 after buying an additional 31,445 shares during the last quarter. Arkadios Wealth Advisors raised its stake in shares of Tetra Tech by 615.8% during the third quarter. Arkadios Wealth Advisors now owns 22,310 shares of the industrial products company's stock worth $1,052,000 after buying an additional 19,193 shares during the last quarter. Lecap Asset Management Ltd. raised its stake in shares of Tetra Tech by 71.3% during the fourth quarter. Lecap Asset Management Ltd. now owns 44,769 shares of the industrial products company's stock worth $1,784,000 after buying an additional 18,635 shares during the last quarter. Finally, Perpetual Ltd raised its stake 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 worth $8,567,000 after buying an additional 18,842 shares during the last quarter. 93.89% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Kirsten M. Volpi sold 10,116 shares of the stock in a transaction on 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 owns 60,196 shares in the company, valued at approximately $2,066,528.68. This represents a 14.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.40% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on TTEK shares. Robert W. Baird boosted their price target on shares of Tetra Tech from $46.00 to $47.00 and gave the stock a "neutral" rating in a research note on Thursday, November 14th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $52.00 target price on shares of Tetra Tech in a research note on Friday, November 15th. StockNews.com downgraded shares of Tetra Tech from a "buy" rating to a "hold" rating in a research note on Friday, November 15th. KeyCorp lowered their target price on shares of Tetra Tech from $49.00 to $45.00 and set an "overweight" rating for the company in a research note on Friday, January 31st. Finally, Maxim Group downgraded shares of Tetra Tech from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, Tetra Tech presently has an average rating of "Moderate Buy" and a consensus target price of $48.52.

Tetra Tech Stock Down 0.6 %

Shares of Tetra Tech stock traded down $0.18 on Friday, hitting $30.60. The company had a trading volume of 3,354,869 shares, compared to its average volume of 4,005,325. The firm has a market capitalization of $8.20 billion, a P/E ratio of 32.14 and a beta of 0.89. Tetra Tech, Inc. has a twelve month low of $30.42 and a twelve month high of $51.20. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.29 and a quick ratio of 1.25. The stock has a 50-day moving average of $38.92 and a 200-day moving average of $43.63.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last released its quarterly 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%. Research analysts predict that Tetra Tech, Inc. will post 1.37 earnings per share for the current year.

Tetra Tech Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th will be issued a $0.058 dividend. This represents a $0.23 annualized dividend and a dividend yield of 0.76%. The ex-dividend date is Wednesday, February 12th. Tetra Tech's dividend payout ratio (DPR) is presently 24.16%.

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.