CenterBook Partners LP Boosts Holdings in Tetra Tech, Inc. (NASDAQ:TTEK)

CenterBook Partners LP increased its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 492.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,205 shares of the industrial products company's stock after purchasing an additional 57,522 shares during the period. CenterBook Partners LP's holdings in Tetra Tech were worth $2,757,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of TTEK. New England Research & Management Inc. bought a new stake in shares of Tetra Tech in the fourth quarter valued at about $596,000. Nicola Wealth Management LTD. lifted its stake in Tetra Tech by 36.8% in the 4th quarter. Nicola Wealth Management LTD. now owns 65,000 shares of the industrial products company's stock valued at $2,590,000 after acquiring an additional 17,500 shares in the last quarter. Lecap Asset Management Ltd. boosted its holdings in Tetra Tech by 71.3% during the fourth quarter. Lecap Asset Management Ltd. now owns 44,769 shares of the industrial products company's stock worth $1,784,000 after purchasing an additional 18,635 shares during the last quarter. Y Intercept Hong Kong Ltd increased its stake in Tetra Tech by 53.3% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 39,150 shares of the industrial products company's stock valued at $1,560,000 after buying an additional 13,606 shares during the last quarter. Finally, Perpetual Ltd raised its holdings in Tetra Tech by 9.6% during the fourth quarter. Perpetual Ltd now owns 215,042 shares of the industrial products company's stock worth $8,567,000 after acquiring an additional 18,842 shares in the last quarter. 93.89% of the stock is currently owned by institutional investors and hedge funds.

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Insider Buying and Selling

In related news, Director Kirsten M. Volpi sold 10,116 shares of the company'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 completion of 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.40% of the stock is owned by company insiders.

Tetra Tech Price Performance

Shares of NASDAQ:TTEK traded down $0.30 during trading on Tuesday, hitting $30.12. 376,458 shares of the company were exchanged, compared to its average volume of 2,001,021. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.53. Tetra Tech, Inc. has a 1-year low of $27.27 and a 1-year high of $51.20. The company has a market capitalization of $8.07 billion, a P/E ratio of 31.64 and a beta of 0.89. The business's 50 day moving average is $29.87 and its 200-day moving average is $38.61.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $0.35 earnings per share (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 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. Stockholders of record on Wednesday, February 12th were given a dividend of $0.058 per share. This represents a $0.23 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend was Wednesday, February 12th. Tetra Tech's payout ratio is 24.21%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on TTEK shares. KeyCorp decreased their target price on shares of Tetra Tech from $49.00 to $45.00 and set an "overweight" rating for the company in a research note on Friday, January 31st. Maxim Group downgraded shares of Tetra Tech from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. Finally, Royal Bank of Canada set a $49.00 target price on shares of Tetra Tech in a report on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $47.92.

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.