Envestnet Portfolio Solutions Inc. Cuts Stock Holdings in Tetra Tech, Inc. (NASDAQ:TTEK)

Envestnet Portfolio Solutions Inc. reduced its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 12.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,123 shares of the industrial products company's stock after selling 8,606 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Tetra Tech were worth $2,316,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Amundi raised its stake in Tetra Tech by 2.5% during the 4th 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 period. Geode Capital Management LLC raised its position in shares of Tetra Tech by 406.6% during 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 buying an additional 3,785,189 shares during the last quarter. Robeco Schweiz AG boosted its position in shares of Tetra Tech by 26.5% during the fourth quarter. Robeco Schweiz AG now owns 2,449,875 shares of the industrial products company's stock worth $97,603,000 after acquiring an additional 512,931 shares during the last quarter. abrdn plc boosted its position in shares of Tetra Tech by 7.6% during the fourth quarter. abrdn plc now owns 2,269,777 shares of the industrial products company's stock worth $90,031,000 after acquiring an additional 159,701 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Tetra Tech by 0.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,081,839 shares of the industrial products company's stock valued at $82,940,000 after acquiring an additional 11,356 shares during the last quarter. Hedge funds and other institutional investors own 93.89% of the company's stock.

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Analysts Set New Price Targets

A number of equities analysts recently commented on TTEK shares. Maxim Group lowered Tetra Tech from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. Royal Bank of Canada set a $49.00 target price on shares of Tetra Tech in a report on Friday, January 31st. Finally, KeyCorp decreased their price target 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. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $47.92.

Insider Buying and Selling

In other news, Director Kirsten M. Volpi sold 10,116 shares of Tetra Tech 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 directly owns 60,196 shares in the company, valued at approximately $2,066,528.68. This trade represents a 14.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.40% of the stock is owned by corporate insiders.

Tetra Tech Trading Up 0.2 %

Shares of Tetra Tech stock traded up $0.07 on Tuesday, reaching $29.44. The company had a trading volume of 2,035,653 shares, compared to its average volume of 1,906,159. The firm has a market cap of $7.89 billion, a price-to-earnings ratio of 30.92 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. The firm's 50-day moving average price is $33.16 and its two-hundred day moving average price is $40.68. Tetra Tech, Inc. has a 1 year low of $28.17 and a 1 year high of $51.20.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.35 EPS for the quarter, topping 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%. As a group, research analysts predict that Tetra Tech, Inc. will post 1.37 earnings per share for the current fiscal year.

Tetra Tech Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were issued a $0.058 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $0.23 annualized dividend and a dividend yield of 0.79%. Tetra Tech's payout ratio 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.