Tetra Tech, Inc. (NASDAQ:TTEK) Stock Holdings Trimmed by Federated Hermes Inc.

Federated Hermes Inc. cut its stake in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 38.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 424,887 shares of the industrial products company's stock after selling 267,355 shares during the period. Federated Hermes Inc. owned about 0.16% of Tetra Tech worth $16,927,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. New England Research & Management Inc. purchased a new position in Tetra Tech in the 4th quarter valued at $596,000. Nicola Wealth Management LTD. lifted its holdings in Tetra Tech by 36.8% in the fourth 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 during the period. Lecap Asset Management Ltd. grew its stake in shares of Tetra Tech by 71.3% during the 4th 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 period. Y Intercept Hong Kong Ltd boosted its holdings in Tetra Tech by 53.3% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 39,150 shares of the industrial products company's stock worth $1,560,000 after buying an additional 13,606 shares in the last quarter. Finally, Perpetual Ltd grew its position 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 buying an additional 18,842 shares during the period. Hedge funds and other institutional investors own 93.89% of the company's stock.

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Insider Transactions at Tetra Tech

In other news, Director Kirsten M. Volpi sold 10,116 shares of Tetra Tech stock in a transaction that occurred on Tuesday, February 4th. The stock was 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 owns 60,196 shares in the company, valued at approximately $2,066,528.68. This trade represents a 14.39 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Royal Bank of Canada set a $49.00 target price on Tetra Tech in a research report on Friday, January 31st. KeyCorp cut their price objective on Tetra Tech from $49.00 to $45.00 and set an "overweight" rating for the company in a research report on Friday, January 31st. Finally, Maxim Group downgraded Tetra Tech from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $47.92.

Tetra Tech Trading Down 0.9 %

Shares of NASDAQ TTEK traded down $0.26 on Tuesday, reaching $30.16. 296,243 shares of the company traded hands, compared to its average volume of 2,000,762. The company has a 50 day moving average of $29.87 and a 200 day moving average of $38.61. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.53. Tetra Tech, Inc. has a fifty-two week low of $27.27 and a fifty-two week high of $51.20. The stock has a market capitalization of $8.08 billion, a PE ratio of 31.68 and a beta of 0.89.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last released its quarterly earnings data 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 return on equity of 22.58% and a net margin of 4.81%. On average, equities research analysts forecast that Tetra Tech, Inc. will post 1.37 earnings per share for the current fiscal year.

Tetra Tech Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were given a $0.058 dividend. 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%.

Tetra Tech Company 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.