HighTower Advisors LLC Boosts Holdings in Tetra Tech, Inc. (NASDAQ:TTEK)

HighTower Advisors LLC grew its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 436.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 124,407 shares of the industrial products company's stock after acquiring an additional 101,208 shares during the period. HighTower Advisors LLC's holdings in Tetra Tech were worth $5,883,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

Several research firms have recently weighed in on TTEK. KeyCorp reduced their price objective on Tetra Tech from $56.00 to $49.00 and set an "overweight" rating for the company in a research report on Friday, November 15th. Robert W. Baird lifted their price objective on shares of Tetra Tech from $46.00 to $47.00 and gave the stock a "neutral" rating in a research report on Thursday, November 14th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $52.00 price target on shares of Tetra Tech in a research report on Friday, November 15th. Finally, StockNews.com cut Tetra Tech from a "buy" rating to a "hold" rating in a research note on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Tetra Tech has an average rating of "Moderate Buy" and an average price target of $49.32.

Tetra Tech Price Performance

Shares of TTEK stock traded up $0.11 during trading hours on Tuesday, reaching $42.41. The stock had a trading volume of 1,464,197 shares, compared to its average volume of 1,522,818. The firm has a market capitalization of $11.35 billion, a PE ratio of 34.42 and a beta of 0.89. Tetra Tech, Inc. has a 12 month low of $31.61 and a 12 month high of $51.20. The stock's fifty day simple moving average is $45.96 and its 200 day simple moving average is $44.54. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.44.

Tetra Tech Announces Dividend

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 paid a $0.058 dividend. This represents a $0.23 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend is Wednesday, November 27th. Tetra Tech's payout ratio is 18.67%.

Insider Activity

In other news, Director Kimberly E. Ritrievi sold 6,500 shares of the firm's stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $46.48, for a total value of $302,120.00. Following the completion of the sale, the director now owns 143,200 shares in the company, valued at approximately $6,655,936. This trade represents a 4.34 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.61% of the company's stock.

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.