Blueshift Asset Management LLC Acquires New Stake in Tetra Tech, Inc. (NASDAQ:TTEK)

Blueshift Asset Management LLC acquired a new position in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,032 shares of the industrial products company's stock, valued at approximately $599,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Atria Investments Inc raised its holdings in shares of Tetra Tech by 321.9% during the 3rd quarter. Atria Investments Inc now owns 7,114 shares of the industrial products company's stock valued at $335,000 after buying an additional 5,428 shares during the period. GSA Capital Partners LLP raised its stake in shares of Tetra Tech by 71.8% during the third quarter. GSA Capital Partners LLP now owns 7,640 shares of the industrial products company's stock valued at $360,000 after purchasing an additional 3,192 shares during the period. Sumitomo Mitsui Trust Group Inc. acquired a new position in shares of Tetra Tech during the third quarter worth $236,000. Victory Capital Management Inc. boosted its stake in shares of Tetra Tech by 731.7% in the third quarter. Victory Capital Management Inc. now owns 93,388 shares of the industrial products company's stock valued at $4,404,000 after purchasing an additional 82,159 shares during the period. Finally, OneDigital Investment Advisors LLC grew its holdings in Tetra Tech by 335.8% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 8,184 shares of the industrial products company's stock valued at $386,000 after purchasing an additional 6,306 shares in the last quarter. 93.89% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. KeyCorp dropped their price objective on Tetra Tech from $49.00 to $45.00 and set an "overweight" rating on the stock in a report on Friday, January 31st. Royal Bank of Canada set a $49.00 price target on Tetra Tech in a research note on Friday, January 31st. Finally, Maxim Group downgraded Tetra Tech from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Tetra Tech currently has an average rating of "Moderate Buy" and an average target price of $47.92.

Tetra Tech Stock Performance

TTEK traded up $0.07 on Tuesday, hitting $29.44. 2,035,653 shares of the company's stock were exchanged, compared to its average volume of 1,906,159. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.53. The stock has a fifty day moving average of $33.16 and a two-hundred day moving average of $40.68. Tetra Tech, Inc. has a twelve month low of $28.17 and a twelve month high of $51.20. The firm has a market cap of $7.89 billion, a PE ratio of 30.92 and a beta of 0.93.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last issued its earnings results on Wednesday, January 29th. The industrial products company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.01. Tetra Tech had a return on equity of 22.58% and a net margin of 4.81%. On average, research analysts anticipate that Tetra Tech, Inc. will post 1.37 earnings per share for the current fiscal year.

Tetra Tech Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were given a $0.058 dividend. This represents a $0.23 annualized dividend and a yield of 0.79%. The ex-dividend date was Wednesday, February 12th. Tetra Tech's dividend payout ratio is currently 24.21%.

Insider Buying and Selling at Tetra Tech

In other news, Director Kirsten M. Volpi sold 10,116 shares of the firm's stock in a transaction on Tuesday, February 4th. The stock was 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 of the company's stock, valued at approximately $2,066,528.68. This trade represents a 14.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.40% of the stock is owned by company insiders.

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.