Tetra Tech, Inc. (NASDAQ:TTEK) Shares Sold by Ninety One UK Ltd

Ninety One UK Ltd cut its holdings in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 24.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,365,210 shares of the industrial products company's stock after selling 747,987 shares during the quarter. Ninety One UK Ltd owned approximately 0.88% of Tetra Tech worth $94,230,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allworth Financial LP boosted its stake in shares of Tetra Tech by 629.3% during the third quarter. Allworth Financial LP now owns 547 shares of the industrial products company's stock valued at $26,000 after purchasing 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 3rd quarter. LGT Financial Advisors LLC now owns 555 shares of the industrial products company's stock worth $26,000 after acquiring an additional 444 shares in the last quarter. Venturi Wealth Management LLC lifted its stake in shares of Tetra Tech by 3,261.1% during the 3rd quarter. Venturi Wealth Management LLC now owns 605 shares of the industrial products company's stock worth $29,000 after purchasing an additional 587 shares during the last quarter. Canton Hathaway LLC lifted its position in Tetra Tech by 400.0% during the third quarter. Canton Hathaway LLC now owns 645 shares of the industrial products company's stock valued at $30,000 after acquiring an additional 516 shares during the last quarter. Finally, USA Financial Formulas lifted its holdings in shares of Tetra Tech by 332.3% during the 3rd quarter. USA Financial Formulas now owns 709 shares of the industrial products company's stock valued at $33,000 after purchasing an additional 545 shares during the last quarter. 93.89% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Tetra Tech news, Director Kirsten M. Volpi sold 10,116 shares of Tetra Tech stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $34.33, for a total transaction of $347,282.28. Following the transaction, the director now directly owns 60,196 shares of the company's stock, valued at $2,066,528.68. The trade was a 14.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on TTEK shares. Royal Bank of Canada reaffirmed an "outperform" rating and set a $52.00 target price on shares of Tetra Tech in a research report on Friday, November 15th. StockNews.com lowered shares of Tetra Tech from a "buy" rating to a "hold" rating in a research report on Friday, November 15th. KeyCorp dropped their target price on shares of Tetra Tech from $49.00 to $45.00 and set an "overweight" rating on the stock in a research report on Friday, January 31st. Robert W. Baird raised their price target on shares of Tetra Tech from $46.00 to $47.00 and gave the stock a "neutral" rating in a report on Thursday, November 14th. Finally, Maxim Group lowered shares of Tetra Tech from a "buy" rating to a "hold" rating in a report on Thursday. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Tetra Tech has an average rating of "Moderate Buy" and an average price target of $48.52.

Tetra Tech Price Performance

Shares of Tetra Tech stock traded down $0.31 on Thursday, reaching $33.78. The company's stock had a trading volume of 2,716,864 shares, compared to its average volume of 3,636,544. The company has a quick ratio of 1.25, a current ratio of 1.29 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $9.05 billion, a P/E ratio of 35.48 and a beta of 0.89. The stock has a 50-day moving average price of $40.32 and a 200-day moving average price of $44.07. Tetra Tech, Inc. has a 52-week low of $31.09 and a 52-week high of $51.20.

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 the consensus estimate of $0.34 by $0.01. Tetra Tech had a return on equity of 22.58% and a net margin of 4.81%. Analysts expect that Tetra Tech, Inc. will post 1.37 EPS for the current year.

Tetra Tech Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th will be given a dividend of $0.058 per share. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $0.23 dividend on an annualized basis and a yield of 0.69%. Tetra Tech's payout ratio is 24.21%.

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.