Nomura Asset Management Co. Ltd. Raises Stock Holdings in Tetra Tech, Inc. (NASDAQ:TTEK)

Nomura Asset Management Co. Ltd. raised its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 36.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,249,141 shares of the industrial products company's stock after acquiring an additional 334,591 shares during the period. Nomura Asset Management Co. Ltd. owned approximately 0.47% of Tetra Tech worth $49,766,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in TTEK. Millburn Ridgefield Corp raised its stake in shares of Tetra Tech by 346.9% during the 3rd quarter. Millburn Ridgefield Corp now owns 800 shares of the industrial products company's stock worth $37,000 after buying an additional 621 shares in the last quarter. R Squared Ltd purchased a new stake in Tetra Tech in the 4th quarter valued at approximately $39,000. Asset Planning Inc acquired a new stake in shares of Tetra Tech during the fourth quarter valued at $40,000. Jones Financial Companies Lllp grew its holdings in shares of Tetra Tech by 98.0% during the fourth quarter. Jones Financial Companies Lllp now owns 1,000 shares of the industrial products company's stock worth $40,000 after buying an additional 495 shares in the last quarter. Finally, Brown Brothers Harriman & Co. raised its position in shares of Tetra Tech by 400.0% in the third quarter. Brown Brothers Harriman & Co. now owns 1,080 shares of the industrial products company's stock valued at $51,000 after buying an additional 864 shares during the last quarter. 93.89% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Tetra Tech news, Director Kirsten M. Volpi sold 10,116 shares of the business's stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $34.33, for a total transaction of $347,282.28. Following the transaction, the director now owns 60,196 shares in the company, 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 SEC, which is available through this hyperlink. 0.40% of the stock is owned by corporate insiders.

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Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Royal Bank of Canada set a $49.00 target price on shares of Tetra Tech in a research note on Friday, January 31st. KeyCorp lowered their price objective on Tetra Tech from $49.00 to $45.00 and set an "overweight" rating for the company in a research report on Friday, January 31st. Finally, Maxim Group downgraded Tetra Tech from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $47.92.

Tetra Tech Trading Up 0.3 %

Tetra Tech stock traded up $0.10 during midday trading on Monday, reaching $29.25. The stock had a trading volume of 1,505,245 shares, compared to its average volume of 1,960,219. The stock's 50-day simple moving average is $31.87 and its 200 day simple moving average is $40.00. Tetra Tech, Inc. has a twelve month low of $28.17 and a twelve month high of $51.20. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.29 and a current ratio of 1.29. The stock has a market capitalization of $7.84 billion, a PE ratio of 30.72 and a beta of 0.93.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.35 earnings per share for the quarter, beating 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 firm also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were issued 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 payout ratio is 24.21%.

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.