Bleakley Financial Group LLC Decreases Stake in Tetra Tech, Inc. (NASDAQ:TTEK)

Bleakley Financial Group LLC trimmed its stake in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 16.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,488 shares of the industrial products company's stock after selling 8,528 shares during the period. Bleakley Financial Group LLC's holdings in Tetra Tech were worth $1,693,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in TTEK. Sarasin & Partners LLP lifted its holdings in shares of Tetra Tech by 330.9% during the 3rd quarter. Sarasin & Partners LLP now owns 4,950,383 shares of the industrial products company's stock valued at $233,460,000 after purchasing an additional 3,801,435 shares during the last quarter. Geode Capital Management LLC boosted its position 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 last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Tetra Tech by 387.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,299,418 shares of the industrial products company's stock worth $155,601,000 after acquiring an additional 2,622,288 shares during the period. abrdn plc raised its stake in shares of Tetra Tech by 7.6% during the 4th quarter. abrdn plc now owns 2,269,777 shares of the industrial products company's stock valued at $90,031,000 after buying an additional 159,701 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Tetra Tech by 357.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,070,483 shares of the industrial products company's stock worth $97,644,000 after purchasing an additional 1,618,211 shares in the last quarter. Institutional investors own 93.89% of the company's stock.

Insider Transactions at Tetra Tech

In other Tetra Tech news, Director Kirsten M. Volpi sold 10,116 shares of the company's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $34.33, for a total transaction 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.40% of the company's stock.

Analyst Ratings Changes

TTEK has been the topic of several recent analyst reports. StockNews.com lowered shares of Tetra Tech from a "buy" rating to a "hold" rating in a research note on Friday, November 15th. Royal Bank of Canada reiterated an "outperform" rating and issued a $52.00 target price on shares of Tetra Tech in a research report on Friday, November 15th. Maxim Group cut Tetra Tech from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Robert W. Baird raised their target price on Tetra Tech from $46.00 to $47.00 and gave the company a "neutral" rating in a research report on Thursday, November 14th. Finally, KeyCorp dropped their target price on shares of Tetra Tech from $49.00 to $45.00 and set an "overweight" rating for the company in a report on Friday, January 31st. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $48.52.

Tetra Tech Stock Down 2.9 %

Shares of NASDAQ TTEK traded down $0.97 during mid-day trading on Tuesday, hitting $32.25. The company had a trading volume of 2,407,430 shares, compared to its average volume of 3,627,283. 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 company has a market capitalization of $8.64 billion, a PE ratio of 33.88 and a beta of 0.89. The business's 50-day simple moving average is $39.63 and its 200 day simple moving average is $43.85. Tetra Tech, Inc. has a 1-year low of $31.09 and a 1-year high of $51.20.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.35 earnings per share 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%. On average, analysts predict that Tetra Tech, Inc. will post 1.37 earnings per share for the current year.

Tetra Tech Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th will be paid a dividend of $0.058 per share. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $0.23 dividend on an annualized basis and a yield of 0.72%. Tetra Tech's dividend payout ratio is presently 24.16%.

Tetra Tech 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.