Icon Advisers Inc. Co. Purchases 48,000 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

Icon Advisers Inc. Co. lifted its position in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 71.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 115,000 shares of the industrial products company's stock after purchasing an additional 48,000 shares during the quarter. Tetra Tech accounts for 1.0% of Icon Advisers Inc. Co.'s portfolio, making the stock its 27th largest position. Icon Advisers Inc. Co.'s holdings in Tetra Tech were worth $4,582,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. Mariner LLC boosted its position in shares of Tetra Tech by 116.6% during the fourth quarter. Mariner LLC now owns 37,959 shares of the industrial products company's stock worth $1,512,000 after buying an additional 20,431 shares during the period. Cooper Creek Partners Management LLC bought a new stake in Tetra Tech in the 4th quarter valued at $23,391,000. Sterling Capital Management LLC lifted its stake in shares of Tetra Tech by 47.8% during the 4th quarter. Sterling Capital Management LLC now owns 13,324 shares of the industrial products company's stock worth $531,000 after buying an additional 4,309 shares during the last quarter. Covestor Ltd boosted its holdings in shares of Tetra Tech by 102.0% during the fourth quarter. Covestor Ltd now owns 3,983 shares of the industrial products company's stock worth $159,000 after acquiring an additional 2,011 shares during the period. Finally, Argent Trust Co grew its holdings in Tetra Tech by 102.0% in the 4th quarter. Argent Trust Co now owns 11,885 shares of the industrial products company's stock valued at $473,000 after buying an additional 6,000 shares in the last quarter. Institutional investors own 93.89% of the company's stock.

Insiders Place Their Bets

In related news, Director Kirsten M. Volpi sold 10,116 shares of Tetra Tech stock in a transaction that occurred on Tuesday, February 4th. The shares were 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 directly owns 60,196 shares in the company, valued at approximately $2,066,528.68. The trade was a 14.39 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.40% of the company's stock.

Tetra Tech Trading Up 1.2 %

Shares of Tetra Tech stock traded up $0.37 on Friday, hitting $30.22. 1,045,189 shares of the company's stock traded hands, compared to its average volume of 2,005,565. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.29 and a quick ratio of 1.29. Tetra Tech, Inc. has a one year low of $27.27 and a one year high of $51.20. The company has a market capitalization of $8.10 billion, a price-to-earnings ratio of 31.74 and a beta of 0.89. The company has a fifty day moving average of $29.67 and a two-hundred day moving average of $38.37.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $0.35 EPS for the quarter, beating 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%. As a group, sell-side analysts expect that Tetra Tech, Inc. will post 1.37 earnings per share for the current year.

Tetra Tech Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were given a dividend of $0.058 per share. 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 dividend payout ratio is currently 24.21%.

Analyst Upgrades and Downgrades

TTEK has been the subject of a number of analyst reports. Maxim Group cut Tetra Tech from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. Royal Bank of Canada set a $49.00 target price on shares of Tetra Tech in a research note on Friday, January 31st. Finally, KeyCorp cut their target price on Tetra Tech from $45.00 to $34.00 and set an "overweight" rating on the stock in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $45.72.

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.