BI Asset Management Fondsmaeglerselskab A S Purchases 16,629 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 168.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,472 shares of the industrial products company's stock after purchasing an additional 16,629 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Tetra Tech were worth $1,055,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Virtu Financial LLC purchased a new stake in shares of Tetra Tech in the 3rd quarter worth about $285,000. Capstone Capital LLC grew its holdings in Tetra Tech by 400.0% in the third quarter. Capstone Capital LLC now owns 5,075 shares of the industrial products company's stock worth $239,000 after purchasing an additional 4,060 shares during the period. World Investment Advisors LLC increased its stake in shares of Tetra Tech by 393.9% during the third quarter. World Investment Advisors LLC now owns 5,680 shares of the industrial products company's stock valued at $268,000 after purchasing an additional 4,530 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Tetra Tech during the third quarter valued at approximately $522,000. Finally, Cim Investment Management Inc. boosted its position in shares of Tetra Tech by 400.0% in the 3rd quarter. Cim Investment Management Inc. now owns 5,255 shares of the industrial products company's stock worth $248,000 after purchasing an additional 4,204 shares in the last quarter. 93.89% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Tetra Tech 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 transaction of $347,282.28. Following the completion of the sale, the director now directly owns 60,196 shares of the company's stock, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.40% of the company's stock.

Tetra Tech Price Performance

NASDAQ TTEK opened at $30.65 on Wednesday. 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 $29.60 and a 200 day moving average of $38.00. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.29 and a current ratio of 1.29. The company has a market capitalization of $8.22 billion, a price-to-earnings ratio of 32.20 and a beta of 0.89.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last released its quarterly earnings data 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, sell-side analysts forecast that Tetra Tech, Inc. will post 1.37 EPS 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 $0.058 dividend. This represents a $0.23 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date of this dividend was Wednesday, February 12th. Tetra Tech's dividend payout ratio is 24.21%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TTEK. Royal Bank of Canada set a $49.00 price objective on Tetra Tech in a research note on Friday, January 31st. KeyCorp dropped their price target on shares of Tetra Tech from $45.00 to $34.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Finally, Maxim Group lowered shares of Tetra Tech from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $45.72.

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.

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