National Bank of Canada FI Acquires 173,071 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

National Bank of Canada FI lifted its position in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 391.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 217,313 shares of the industrial products company's stock after acquiring an additional 173,071 shares during the period. National Bank of Canada FI owned approximately 0.08% of Tetra Tech worth $10,248,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Sarasin & Partners LLP boosted its holdings in shares of Tetra Tech by 330.9% in the 3rd quarter. Sarasin & Partners LLP now owns 4,950,383 shares of the industrial products company's stock valued at $233,460,000 after purchasing an additional 3,801,435 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Tetra Tech by 387.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,299,418 shares of the industrial products company's stock worth $155,601,000 after buying an additional 2,622,288 shares in the last quarter. abrdn plc lifted its position in shares of Tetra Tech by 353.0% during the 3rd quarter. abrdn plc now owns 2,110,076 shares of the industrial products company's stock worth $98,477,000 after buying an additional 1,644,267 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Tetra Tech by 357.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,070,483 shares of the industrial products company's stock valued at $97,644,000 after buying an additional 1,618,211 shares in the last quarter. Finally, Copeland Capital Management LLC grew its position in Tetra Tech by 289.0% in the third quarter. Copeland Capital Management LLC now owns 1,824,250 shares of the industrial products company's stock valued at $86,032,000 after acquiring an additional 1,355,351 shares during the last quarter. Institutional investors and hedge funds own 93.89% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. KeyCorp decreased their price target on shares of Tetra Tech from $56.00 to $49.00 and set an "overweight" rating on the stock in a report on Friday, November 15th. Robert W. Baird increased their price target on Tetra Tech from $46.00 to $47.00 and gave the company a "neutral" rating in a research note on Thursday, November 14th. Royal Bank of Canada restated an "outperform" rating and set a $52.00 price objective on shares of Tetra Tech in a research report on Friday, November 15th. Finally, StockNews.com downgraded Tetra Tech from a "buy" rating to a "hold" rating in a research report on Friday, November 15th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $49.32.

Tetra Tech Trading Down 1.2 %

NASDAQ:TTEK traded down $0.49 during trading hours on Thursday, hitting $41.75. 1,432,983 shares of the company were exchanged, compared to its average volume of 1,523,600. The company has a fifty day simple moving average of $45.86 and a 200 day simple moving average of $44.53. Tetra Tech, Inc. has a one year low of $31.61 and a one year high of $51.20. The stock has a market capitalization of $11.18 billion, a price-to-earnings ratio of 33.92 and a beta of 0.88. 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 business 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. This represents a $0.23 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend is Wednesday, November 27th. Tetra Tech's payout ratio is presently 18.70%.

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.