Tetra Tech, Inc. (NASDAQ:TTEK) Shares Acquired by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership increased its position in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 11.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 342,637 shares of the industrial products company's stock after purchasing an additional 34,375 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.13% of Tetra Tech worth $13,651,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. New England Research & Management Inc. bought a new stake in Tetra Tech in the 4th quarter worth about $596,000. Nicola Wealth Management LTD. lifted its position in Tetra Tech by 36.8% during the fourth quarter. Nicola Wealth Management LTD. now owns 65,000 shares of the industrial products company's stock valued at $2,590,000 after purchasing an additional 17,500 shares in the last quarter. Lecap Asset Management Ltd. increased its holdings in Tetra Tech by 71.3% in the 4th quarter. Lecap Asset Management Ltd. now owns 44,769 shares of the industrial products company's stock worth $1,784,000 after acquiring an additional 18,635 shares in the last quarter. Y Intercept Hong Kong Ltd raised its position in shares of Tetra Tech by 53.3% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 39,150 shares of the industrial products company's stock valued at $1,560,000 after purchasing an additional 13,606 shares during the period. Finally, Perpetual Ltd raised its holdings in 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 period. Institutional investors own 93.89% of the company's stock.

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Tetra Tech Trading Up 6.6 %

NASDAQ:TTEK traded up $1.86 during midday trading on Wednesday, hitting $29.87. The stock had a trading volume of 2,820,173 shares, compared to its average volume of 1,998,906. The company has a market capitalization of $8.01 billion, a price-to-earnings ratio of 31.38 and a beta of 0.89. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.53. Tetra Tech, Inc. has a one year low of $27.27 and a one year high of $51.20. The stock has a 50-day moving average of $30.13 and a 200 day moving average of $39.02.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last issued 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 net margin of 4.81% and a return on equity of 22.58%. As a group, sell-side 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. Investors of record on Wednesday, February 12th were paid a dividend of $0.058 per share. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $0.23 annualized dividend and a dividend yield of 0.78%. Tetra Tech's dividend payout ratio (DPR) is presently 24.21%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on TTEK shares. Maxim Group downgraded shares of Tetra Tech from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Royal Bank of Canada set a $49.00 price objective on Tetra Tech in a research note on Friday, January 31st. Finally, KeyCorp dropped their price target 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. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $47.92.

Insider Activity

In other news, Director Kirsten M. Volpi sold 10,116 shares of the business's 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 sale, the director now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.40% of the company's stock.

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.