First Business Financial Services Inc. Buys 14,044 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

First Business Financial Services Inc. grew its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 400.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,555 shares of the industrial products company's stock after acquiring an additional 14,044 shares during the period. First Business Financial Services Inc.'s holdings in Tetra Tech were worth $828,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Allworth Financial LP raised its position in shares of Tetra Tech by 629.3% in the third quarter. Allworth Financial LP now owns 547 shares of the industrial products company's stock valued at $26,000 after buying an additional 472 shares in the last quarter. LGT Financial Advisors LLC raised its position in shares of Tetra Tech by 400.0% in the third quarter. LGT Financial Advisors LLC now owns 555 shares of the industrial products company's stock valued at $26,000 after buying an additional 444 shares in the last quarter. Banque Cantonale Vaudoise acquired a new stake in shares of Tetra Tech in the second quarter valued at approximately $28,000. Venturi Wealth Management LLC raised its position in shares of Tetra Tech by 3,261.1% in the third quarter. Venturi Wealth Management LLC now owns 605 shares of the industrial products company's stock valued at $29,000 after buying an additional 587 shares in the last quarter. Finally, USA Financial Formulas raised its position in shares of Tetra Tech by 332.3% in the third quarter. USA Financial Formulas now owns 709 shares of the industrial products company's stock valued at $33,000 after buying an additional 545 shares in the last quarter. 93.89% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Tetra Tech

In other news, EVP Leslie L. Shoemaker sold 78,420 shares of the business's stock in a transaction dated 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 sale, the executive vice president now directly owns 296,015 shares of the company's stock, valued at $13,649,251.65. The trade was a 20.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Steven M. Burdick sold 36,830 shares of the company's stock in a transaction dated 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 completion of the sale, the chief financial officer now directly owns 112,620 shares of the company's stock, valued at $5,244,713.40. The trade was a 24.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 121,750 shares of company stock worth $5,633,239 over the last quarter. Company insiders own 0.61% of the company's stock.

Tetra Tech Trading Up 0.8 %

Shares of Tetra Tech stock traded up $0.31 during trading on Friday, hitting $41.27. The company's stock had a trading volume of 4,175,421 shares, compared to its average volume of 1,457,018. The stock has a market cap of $11.05 billion, a price-to-earnings ratio of 32.87 and a beta of 0.94. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.21 and a quick ratio of 1.21. Tetra Tech, Inc. has a 52 week low of $30.92 and a 52 week high of $51.20. The stock has a 50-day moving average price of $47.82 and a two-hundred day moving average price of $44.55.

Tetra Tech Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts recently issued reports on TTEK shares. Royal Bank of Canada reissued an "outperform" rating and issued a $52.00 price objective on shares of Tetra Tech in a research note on Friday. StockNews.com raised shares of Tetra Tech from a "hold" rating to a "buy" rating in a research note on Tuesday, October 15th. KeyCorp decreased their price objective on shares of Tetra Tech from $56.00 to $49.00 and set an "overweight" rating on the stock in a research note on Friday. Finally, Robert W. Baird boosted their target price on shares of Tetra Tech from $46.00 to $47.00 and gave the stock a "neutral" rating in a research note on Thursday. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $49.32.

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.