Capital International Investors Invests $43.90 Million in Tetra Tech, Inc. (NASDAQ:TTEK)

Capital International Investors acquired a new position in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,101,793 shares of the industrial products company's stock, valued at approximately $43,895,000. Capital International Investors owned 0.41% of Tetra Tech at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of TTEK. R Squared Ltd acquired a new stake in Tetra Tech in the 4th quarter valued at about $39,000. Asset Planning Inc acquired a new stake in shares of Tetra Tech during the 4th quarter worth about $40,000. Jones Financial Companies Lllp boosted its holdings in Tetra Tech by 98.0% in the fourth quarter. Jones Financial Companies Lllp now owns 1,000 shares of the industrial products company's stock valued at $40,000 after purchasing an additional 495 shares in the last quarter. Blue Trust Inc. raised its holdings in Tetra Tech by 235.8% during the fourth quarter. Blue Trust Inc. now owns 1,444 shares of the industrial products company's stock worth $58,000 after purchasing an additional 1,014 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Tetra Tech during the 4th quarter worth approximately $63,000. 93.89% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on TTEK shares. Royal Bank of Canada set a $49.00 price target on shares of Tetra Tech in a research note on Friday, January 31st. KeyCorp reduced their target price on Tetra Tech from $45.00 to $34.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Finally, Maxim Group cut shares of Tetra Tech from a "strong-buy" rating to a "hold" rating in a report 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $45.72.

Insider Activity

In other Tetra Tech news, Director Kirsten M. Volpi sold 10,116 shares of the 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 sale, the director now owns 60,196 shares in the company, valued at approximately $2,066,528.68. This represents a 14.39 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.40% of the company's stock.

Tetra Tech Price Performance

Tetra Tech stock traded up $0.58 during midday trading on Thursday, reaching $31.50. The company's stock had a trading volume of 1,299,926 shares, compared to its average volume of 2,002,896. The firm has a market capitalization of $8.44 billion, a PE ratio of 33.09 and a beta of 0.89. Tetra Tech, Inc. has a fifty-two week low of $27.27 and a fifty-two week high of $51.20. The stock's 50 day simple moving average is $29.62 and its 200 day simple moving average is $37.79. 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 released its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.35 EPS for the quarter, topping 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, equities research analysts forecast that Tetra Tech, Inc. will post 1.37 earnings per share for the current year.

Tetra Tech Dividend Announcement

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 annualized dividend and a yield of 0.74%. The ex-dividend date of this dividend was Wednesday, February 12th. Tetra Tech's dividend payout ratio (DPR) is 24.21%.

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.