KLP Kapitalforvaltning AS Invests $2.21 Million in Tetra Tech, Inc. (NASDAQ:TTEK)

KLP Kapitalforvaltning AS bought a new stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 55,400 shares of the industrial products company's stock, valued at approximately $2,207,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in shares of Tetra Tech by 406.6% during the third quarter. Geode Capital Management LLC now owns 4,716,080 shares of the industrial products company's stock worth $222,466,000 after buying an additional 3,785,189 shares during the period. King Luther Capital Management Corp boosted its position in Tetra Tech by 324.0% during the fourth quarter. King Luther Capital Management Corp now owns 1,278,295 shares of the industrial products company's stock valued at $50,927,000 after acquiring an additional 976,810 shares during the last quarter. Rockefeller Capital Management L.P. grew its holdings in Tetra Tech by 365.0% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 1,138,716 shares of the industrial products company's stock worth $53,739,000 after acquiring an additional 893,827 shares during the period. Wellington Management Group LLP raised its position in shares of Tetra Tech by 365.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,077,828 shares of the industrial products company's stock worth $50,830,000 after acquiring an additional 846,284 shares in the last quarter. Finally, Teacher Retirement System of Texas lifted its stake in shares of Tetra Tech by 130.8% in the 4th quarter. Teacher Retirement System of Texas now owns 1,383,025 shares of the industrial products company's stock valued at $55,100,000 after purchasing an additional 783,736 shares during the period. Institutional investors own 93.89% of the company's stock.

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Analyst Ratings Changes

TTEK has been the subject of a number of research analyst reports. Royal Bank of Canada set a $49.00 target price on Tetra Tech in a report on Friday, January 31st. KeyCorp lowered their price objective on shares of Tetra Tech from $49.00 to $45.00 and set an "overweight" rating for the company in a research note on Friday, January 31st. Finally, Maxim Group downgraded shares of Tetra Tech from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $47.92.

Tetra Tech Stock Up 1.0 %

TTEK traded up $0.30 during midday trading on Tuesday, reaching $29.55. 1,572,301 shares of the company were exchanged, compared to its average volume of 1,959,161. The company's fifty day moving average price is $31.87 and its 200 day moving average price is $40.00. Tetra Tech, Inc. has a one year low of $28.17 and a one year high of $51.20. The company has a market cap of $7.92 billion, a price-to-earnings ratio of 31.04 and a beta of 0.93. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.29 and a current ratio of 1.29.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.34 by $0.01. Tetra Tech had a net margin of 4.81% and a return on equity of 22.58%. As a group, analysts expect that Tetra Tech, Inc. will post 1.37 EPS for the current year.

Tetra Tech Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were given a dividend of $0.058 per share. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $0.23 annualized dividend and a dividend yield of 0.79%. Tetra Tech's dividend payout ratio is currently 24.21%.

Insider Transactions at Tetra Tech

In other news, Director Kirsten M. Volpi sold 10,116 shares of the firm's stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $34.33, for a total transaction of $347,282.28. Following the completion of the sale, the director now directly owns 60,196 shares of the company's stock, valued at $2,066,528.68. This trade represents a 14.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.40% of the company's stock.

Tetra Tech 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.