Denali Advisors LLC Sells 89,130 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

Denali Advisors LLC lessened its position in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 81.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,802 shares of the industrial products company's stock after selling 89,130 shares during the period. Denali Advisors LLC's holdings in Tetra Tech were worth $789,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC increased its stake in Tetra Tech by 406.6% in the third 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 last quarter. abrdn plc grew its holdings in shares of Tetra Tech by 7.6% during the 4th quarter. abrdn plc now owns 2,269,777 shares of the industrial products company's stock valued at $90,031,000 after purchasing an additional 159,701 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in 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. Premier Fund Managers Ltd lifted its stake in Tetra Tech by 400.0% in the 3rd quarter. Premier Fund Managers Ltd now owns 1,500,000 shares of the industrial products company's stock valued at $69,615,000 after purchasing an additional 1,200,000 shares during the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc boosted its position in Tetra Tech by 337.0% in the third quarter. AEGON ASSET MANAGEMENT UK Plc now owns 1,466,385 shares of the industrial products company's stock valued at $69,081,000 after buying an additional 1,130,842 shares in the last quarter. Institutional investors and hedge funds own 93.89% of the company's stock.

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Insider Transactions at Tetra Tech

In related news, Director Kirsten M. Volpi sold 10,116 shares of the firm'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 completion of the transaction, the director now directly owns 60,196 shares of the company's stock, valued at approximately $2,066,528.68. This trade represents a 14.39 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.40% of the company's stock.

Tetra Tech Trading Down 1.8 %

Shares of NASDAQ:TTEK traded down $0.52 during midday trading on Friday, reaching $29.19. The company's stock had a trading volume of 4,326,482 shares, compared to its average volume of 3,355,938. Tetra Tech, Inc. has a fifty-two week low of $28.98 and a fifty-two week high of $51.20. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.29 and a current ratio of 1.29. The firm has a 50 day moving average price of $36.62 and a two-hundred day moving average price of $42.60. The firm has a market capitalization of $7.82 billion, a price-to-earnings ratio of 30.66 and a beta of 0.89.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last posted 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%. As a group, 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 declared a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were issued a dividend of $0.058 per share. This represents a $0.23 annualized dividend and a yield of 0.79%. The ex-dividend date was Wednesday, February 12th. Tetra Tech's dividend payout ratio (DPR) is presently 24.21%.

Analysts Set New Price Targets

A number of brokerages have recently commented on TTEK. Royal Bank of Canada set a $49.00 price target on Tetra Tech in a research note on Friday, January 31st. StockNews.com downgraded Tetra Tech from a "buy" rating to a "hold" rating in a research note on Friday, November 15th. Maxim Group cut shares of Tetra Tech from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. KeyCorp reduced their price objective 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. Finally, Robert W. Baird raised their target price on Tetra Tech from $46.00 to $47.00 and gave the stock a "neutral" rating in a research report on Thursday, November 14th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Tetra Tech 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.