California Public Employees Retirement System Decreases Stock Holdings in Tetra Tech, Inc. (NASDAQ:TTEK)

California Public Employees Retirement System trimmed its holdings in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 6.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 507,774 shares of the industrial products company's stock after selling 34,802 shares during the quarter. California Public Employees Retirement System owned 0.19% of Tetra Tech worth $20,230,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund increased its stake in Tetra Tech by 0.7% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 54,525 shares of the industrial products company's stock worth $2,172,000 after purchasing an additional 400 shares during the period. Nordea Investment Management AB increased its stake in shares of Tetra Tech by 0.9% in the fourth quarter. Nordea Investment Management AB now owns 45,422 shares of the industrial products company's stock worth $1,809,000 after buying an additional 411 shares during the period. CIBC Asset Management Inc raised its holdings in Tetra Tech by 5.6% during the 4th quarter. CIBC Asset Management Inc now owns 8,318 shares of the industrial products company's stock valued at $331,000 after buying an additional 438 shares during the last quarter. Farther Finance Advisors LLC boosted its position in Tetra Tech by 13.0% during the 4th quarter. Farther Finance Advisors LLC now owns 4,009 shares of the industrial products company's stock valued at $160,000 after buying an additional 461 shares during the period. Finally, Jones Financial Companies Lllp grew its holdings in Tetra Tech by 98.0% in the 4th quarter. Jones Financial Companies Lllp now owns 1,000 shares of the industrial products company's stock worth $40,000 after acquiring an additional 495 shares during the last quarter. Hedge funds and other institutional investors own 93.89% of the company's stock.

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Insider Activity at Tetra Tech

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 completion of the sale, the director now directly owns 60,196 shares of the company's stock, valued at approximately $2,066,528.68. The trade was a 14.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on TTEK shares. Royal Bank of Canada set a $49.00 price target on Tetra Tech in a research note on Friday, January 31st. Maxim Group cut shares of Tetra Tech from a "strong-buy" rating to a "hold" rating in a research report on Friday. Finally, KeyCorp cut their target price on shares of Tetra Tech from $49.00 to $45.00 and set an "overweight" rating on the stock in a research note on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, Tetra Tech currently has a consensus rating of "Moderate Buy" and a consensus target price of $47.92.

Tetra Tech Price Performance

Shares of TTEK stock traded up $0.44 during trading hours on Tuesday, hitting $28.65. The stock had a trading volume of 342,448 shares, compared to its average volume of 1,978,025. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.29 and a quick ratio of 1.29. The stock has a market capitalization of $7.68 billion, a price-to-earnings ratio of 30.01 and a beta of 0.89. Tetra Tech, Inc. has a one year low of $27.27 and a one year high of $51.20. The stock's 50-day moving average price is $30.81 and its two-hundred day moving average price is $39.41.

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

Tetra Tech Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 0.81%. Tetra Tech's dividend payout ratio is presently 24.21%.

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.