Charter Oak Advisors LP Buys Shares of 64,322 Tetra Tech, Inc. (NASDAQ:TTEK)

Charter Oak Advisors LP purchased a new position in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 64,322 shares of the industrial products company's stock, valued at approximately $2,563,000. Tetra Tech makes up approximately 1.5% of Charter Oak Advisors LP's holdings, making the stock its 13th biggest holding.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of Tetra Tech by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 25,912,103 shares of the industrial products company's stock worth $1,032,338,000 after acquiring an additional 127,757 shares in the last quarter. Pictet Asset Management Holding SA boosted its holdings in Tetra Tech by 2.8% in the fourth quarter. Pictet Asset Management Holding SA now owns 14,018,887 shares of the industrial products company's stock worth $558,512,000 after purchasing an additional 381,437 shares during the period. Amundi increased its stake in Tetra Tech by 2.5% during the fourth quarter. Amundi now owns 4,873,176 shares of the industrial products company's stock valued at $194,314,000 after purchasing an additional 117,304 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Tetra Tech by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 4,729,696 shares of the industrial products company's stock worth $188,487,000 after purchasing an additional 13,616 shares during the period. Finally, Norges Bank bought a new position in shares of Tetra Tech in the 4th quarter worth about $121,390,000. Institutional investors own 93.89% of the company's stock.

Tetra Tech Stock Performance

Shares of NASDAQ TTEK traded up $0.37 during midday trading on Friday, reaching $30.22. 1,045,189 shares of the company traded hands, compared to its average volume of 2,009,772. The company has a market cap of $8.10 billion, a price-to-earnings ratio of 31.74 and a beta of 0.89. The stock has a 50-day moving average price of $29.67 and a 200 day moving average price of $38.37. Tetra Tech, Inc. has a 52 week low of $27.27 and a 52 week high of $51.20. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.29 and a quick ratio of 1.29.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last released its quarterly earnings results 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%. Sell-side analysts anticipate that Tetra Tech, Inc. will post 1.37 earnings per share for the current fiscal year.

Tetra Tech Announces Dividend

The company also recently announced 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 was Wednesday, February 12th. This represents a $0.23 annualized dividend and a yield of 0.77%. Tetra Tech's dividend payout ratio is currently 24.21%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on TTEK. Royal Bank of Canada set a $49.00 price objective on shares of Tetra Tech in a research report on Friday, January 31st. Maxim Group cut Tetra Tech from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. Finally, KeyCorp cut their price target on Tetra Tech from $45.00 to $34.00 and set an "overweight" rating on the stock in a report on Wednesday. Three 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 has an average rating of "Moderate Buy" and an average target price of $45.72.

Insider Buying and Selling

In related news, Director Kirsten M. Volpi sold 10,116 shares of the business's stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $34.33, for a total value of $347,282.28. Following the sale, the director now directly owns 60,196 shares in the company, valued at $2,066,528.68. The trade was a 14.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.40% of the stock is owned by corporate 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.