Bank of Nova Scotia Increases Stock Position in Tetra Tech, Inc. (NASDAQ:TTEK)

Bank of Nova Scotia lifted its position in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 24.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 641,860 shares of the industrial products company's stock after purchasing an additional 124,619 shares during the quarter. Bank of Nova Scotia owned 0.24% of Tetra Tech worth $25,572,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Tetra Tech by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 25,912,103 shares of the industrial products company's stock valued at $1,032,338,000 after acquiring an additional 127,757 shares during the last quarter. Pictet Asset Management Holding SA lifted its position in Tetra Tech by 2.8% in the fourth quarter. Pictet Asset Management Holding SA now owns 14,018,887 shares of the industrial products company's stock valued at $558,512,000 after purchasing an additional 381,437 shares during the last quarter. Amundi boosted its stake in shares of Tetra Tech by 2.5% during the fourth quarter. Amundi now owns 4,873,176 shares of the industrial products company's stock valued at $194,314,000 after purchasing an additional 117,304 shares during the period. Geode Capital Management LLC grew its holdings in shares of Tetra Tech by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 4,729,696 shares of the industrial products company's stock worth $188,487,000 after purchasing an additional 13,616 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Tetra Tech in the fourth quarter worth $121,390,000. 93.89% of the stock is currently owned by institutional investors.

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Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Maxim Group cut shares of Tetra Tech from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. KeyCorp dropped their price objective on Tetra Tech from $49.00 to $45.00 and set an "overweight" rating for the company in a report on Friday, January 31st. Finally, Royal Bank of Canada set a $49.00 price objective on Tetra Tech in a research report on Friday, January 31st. Three analysts have rated the stock with a hold rating and three have issued 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 target price of $47.92.

Tetra Tech Stock Down 0.8 %

Shares of NASDAQ TTEK traded down $0.25 during mid-day trading on Tuesday, hitting $30.17. 343,535 shares of the stock traded hands, compared to its average volume of 2,946,068. The company has a market cap of $8.09 billion, a price-to-earnings ratio of 31.69 and a beta of 0.89. The stock has a fifty day moving average price of $29.87 and a 200-day moving average price of $38.61. Tetra Tech, Inc. has a 52 week low of $27.27 and a 52 week high of $51.20. 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 EPS for the quarter, beating analysts' consensus estimates 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 anticipate that Tetra Tech, Inc. will post 1.37 EPS for the current year.

Tetra Tech Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were given 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 (DPR) is presently 24.21%.

Insider Buying and Selling at Tetra Tech

In related news, Director Kirsten M. Volpi sold 10,116 shares of the firm'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 transaction of $347,282.28. Following the completion of the sale, the director now owns 60,196 shares of the company's stock, valued at $2,066,528.68. This trade represents a 14.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.40% of the stock is owned by company insiders.

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.