Corebridge Financial Inc. reduced its holdings in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 4.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 303,578 shares of the industrial products company's stock after selling 13,400 shares during the quarter. Corebridge Financial Inc. owned about 0.11% of Tetra Tech worth $12,095,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of TTEK. Geode Capital Management LLC lifted its position in shares of Tetra Tech by 406.6% during the 3rd quarter. Geode Capital Management LLC now owns 4,716,080 shares of the industrial products company's stock valued at $222,466,000 after acquiring an additional 3,785,189 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Tetra Tech by 357.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,070,483 shares of the industrial products company's stock worth $97,644,000 after purchasing an additional 1,618,211 shares in the last quarter. King Luther Capital Management Corp grew its stake in shares of Tetra Tech by 324.0% in the 4th quarter. King Luther Capital Management Corp now owns 1,278,295 shares of the industrial products company's stock valued at $50,927,000 after buying an additional 976,810 shares during the period. Rockefeller Capital Management L.P. grew its stake in shares of Tetra Tech by 365.0% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 1,138,716 shares of the industrial products company's stock valued at $53,739,000 after buying an additional 893,827 shares during the period. Finally, Wellington Management Group LLP increased its position in Tetra Tech by 365.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,077,828 shares of the industrial products company's stock valued at $50,830,000 after buying an additional 846,284 shares in the last quarter. 93.89% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on TTEK shares. Royal Bank of Canada set a $49.00 price objective on Tetra Tech in a report on Friday, January 31st. KeyCorp decreased their price target 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. Finally, Maxim Group lowered shares of Tetra Tech from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. Three investment 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.com, Tetra Tech currently has a consensus rating of "Moderate Buy" and a consensus target price of $47.92.
Check Out Our Latest Stock Analysis on Tetra Tech
Tetra Tech Stock Down 1.2 %
Shares of NASDAQ TTEK traded down $0.35 during trading on Friday, hitting $29.15. The stock had a trading volume of 1,151,746 shares, compared to its average volume of 1,962,040. The firm has a fifty day moving average of $32.13 and a two-hundred day moving average of $40.16. The company has a market capitalization of $7.81 billion, a PE ratio of 30.62 and a beta of 0.93. 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, Inc. has a 12 month low of $28.17 and a 12 month high of $51.20.
Tetra Tech (NASDAQ:TTEK - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.35 earnings per share (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%. As a group, equities research analysts forecast that Tetra Tech, Inc. will post 1.37 EPS for the current fiscal year.
Tetra Tech Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were given a $0.058 dividend. The ex-dividend date was Wednesday, February 12th. This represents a $0.23 annualized dividend and a yield of 0.80%. Tetra Tech's dividend payout ratio is currently 24.21%.
Insider Buying and Selling at Tetra Tech
In related news, Director Kirsten M. Volpi sold 10,116 shares of the business's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $34.33, for a total value 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. The trade was 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 hyperlink. Corporate insiders own 0.40% of the company's stock.
Tetra Tech Company Profile
(
Free Report)
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.
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