Oppenheimer & Co. Inc. Raises Stock Holdings in Tetra Tech, Inc. (NASDAQ:TTEK)

Oppenheimer & Co. Inc. raised its stake in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 408.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,391 shares of the industrial products company's stock after purchasing an additional 31,641 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Tetra Tech were worth $1,858,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Sarasin & Partners LLP lifted its holdings in Tetra Tech by 330.9% during the 3rd quarter. Sarasin & Partners LLP now owns 4,950,383 shares of the industrial products company's stock worth $233,460,000 after purchasing an additional 3,801,435 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Tetra Tech by 387.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,299,418 shares of the industrial products company's stock valued at $155,601,000 after acquiring an additional 2,622,288 shares in the last quarter. abrdn plc raised its holdings in Tetra Tech by 353.0% in the 3rd quarter. abrdn plc now owns 2,110,076 shares of the industrial products company's stock valued at $98,477,000 after acquiring an additional 1,644,267 shares in the last quarter. Copeland Capital Management LLC raised its holdings in Tetra Tech by 289.0% in the 3rd 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 in the last quarter. Finally, Vontobel Holding Ltd. raised its holdings in Tetra Tech by 409.4% in the 3rd quarter. Vontobel Holding Ltd. now owns 1,425,589 shares of the industrial products company's stock valued at $67,231,000 after acquiring an additional 1,145,738 shares in the last quarter. 93.89% of the stock is currently owned by institutional investors.

Tetra Tech Trading Up 0.6 %

Shares of NASDAQ:TTEK traded up $0.25 during midday trading on Monday, reaching $41.52. The company's stock had a trading volume of 1,704,648 shares, compared to its average volume of 1,458,132. The firm has a market capitalization of $11.11 billion, a price-to-earnings ratio of 33.50 and a beta of 0.94. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.21 and a current ratio of 1.25. The firm has a 50 day moving average price of $47.60 and a two-hundred day moving average price of $44.58. Tetra Tech, Inc. has a fifty-two week low of $30.92 and a fifty-two week high of $51.20.

Tetra Tech Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be paid a dividend of $0.058 per share. This represents a $0.23 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend is Wednesday, November 27th. Tetra Tech's dividend payout ratio (DPR) is currently 18.67%.

Insider Buying and Selling

In other news, Director Kimberly E. Ritrievi sold 6,500 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $46.48, for a total value of $302,120.00. Following the completion of the sale, the director now directly owns 143,200 shares of the company's stock, valued at $6,655,936. This represents a 4.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Leslie L. Shoemaker sold 78,420 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $46.11, for a total value of $3,615,946.20. Following the transaction, the executive vice president now owns 296,015 shares of the company's stock, valued at $13,649,251.65. The trade was a 20.94 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 121,750 shares of company stock valued at $5,633,239. 0.61% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have weighed in on TTEK. StockNews.com cut Tetra Tech from a "buy" rating to a "hold" rating in a report on Friday. KeyCorp decreased their price target on Tetra Tech from $56.00 to $49.00 and set an "overweight" rating on the stock in a research note on Friday. Robert W. Baird lifted 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. Finally, 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. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $49.32.

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.