Fernbridge Capital Management LP Has $21.29 Million Holdings in Tetra Tech, Inc. (NASDAQ:TTEK)

Fernbridge Capital Management LP increased its stake in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 227.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 451,402 shares of the industrial products company's stock after purchasing an additional 313,584 shares during the period. Tetra Tech accounts for 1.3% of Fernbridge Capital Management LP's portfolio, making the stock its 22nd largest holding. Fernbridge Capital Management LP owned about 0.17% of Tetra Tech worth $21,288,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of TTEK. Banque Cantonale Vaudoise bought a new position in shares of Tetra Tech in the 2nd quarter valued at about $28,000. EverSource Wealth Advisors LLC boosted its stake in Tetra Tech by 561.3% in the second quarter. EverSource Wealth Advisors LLC now owns 205 shares of the industrial products company's stock valued at $44,000 after acquiring an additional 174 shares during the last quarter. Family Firm Inc. acquired a new stake in Tetra Tech during the 2nd quarter worth $51,000. Quarry LP bought a new stake in shares of Tetra Tech during the 2nd quarter valued at $54,000. Finally, CWM LLC boosted its position in shares of Tetra Tech by 20.2% in the 2nd quarter. CWM LLC now owns 304 shares of the industrial products company's stock worth $62,000 after purchasing an additional 51 shares during the last quarter. Institutional investors and hedge funds own 93.89% of the company's stock.

Insider Activity

In other news, CFO Steven M. Burdick sold 36,830 shares of the company's stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $46.57, for a total transaction of $1,715,173.10. Following the sale, the chief financial officer now owns 112,620 shares in the company, valued at $5,244,713.40. This represents a 24.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Leslie L. Shoemaker sold 78,420 shares of the firm's stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $46.11, for a total transaction of $3,615,946.20. Following the completion of the transaction, the executive vice president now directly owns 296,015 shares of the company's stock, valued at $13,649,251.65. This represents a 20.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 121,750 shares of company stock worth $5,633,239 over the last ninety days. Insiders own 0.61% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. KeyCorp decreased their price objective on shares of Tetra Tech from $56.00 to $49.00 and set an "overweight" rating for the company in a report on Friday, November 15th. StockNews.com cut shares of Tetra Tech from a "buy" rating to a "hold" rating in a research report on Friday, November 15th. Royal Bank of Canada reiterated an "outperform" rating and set a $52.00 target price on shares of Tetra Tech in a report on Friday, November 15th. Finally, Robert W. Baird increased their price target on Tetra Tech from $46.00 to $47.00 and gave the stock a "neutral" rating in a report on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $49.32.

Tetra Tech Stock Up 0.2 %

Shares of Tetra Tech stock traded up $0.08 during trading on Wednesday, reaching $41.66. The stock had a trading volume of 944,346 shares, compared to its average volume of 1,502,989. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $11.15 billion, a price-to-earnings ratio of 33.80 and a beta of 0.94. Tetra Tech, Inc. has a 52 week low of $30.92 and a 52 week high of $51.20. The stock has a fifty day moving average price of $46.86 and a two-hundred day moving average price of $44.61.

Tetra Tech Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th will be paid a dividend of $0.058 per share. The ex-dividend date is Wednesday, November 27th. This represents a $0.23 annualized dividend and a dividend yield of 0.56%. Tetra Tech's dividend payout ratio is currently 18.67%.

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.