Patten Group Inc. Takes $851,000 Position in Tetra Tech, Inc. (NASDAQ:TTEK)

Patten Group Inc. purchased a new stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 21,364 shares of the industrial products company's stock, valued at approximately $851,000.

Several other institutional investors have also recently made changes to their positions in the company. LGT Financial Advisors LLC boosted its position in Tetra Tech by 400.0% during the third quarter. LGT Financial Advisors LLC now owns 555 shares of the industrial products company's stock valued at $26,000 after purchasing an additional 444 shares in the last quarter. Venturi Wealth Management LLC boosted its position in Tetra Tech by 3,261.1% during the third quarter. Venturi Wealth Management LLC now owns 605 shares of the industrial products company's stock valued at $29,000 after purchasing an additional 587 shares in the last quarter. Canton Hathaway LLC boosted 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 purchasing an additional 516 shares in the last quarter. Banque Cantonale Vaudoise boosted its position in Tetra Tech by 400.0% during the third quarter. Banque Cantonale Vaudoise now owns 695 shares of the industrial products company's stock valued at $33,000 after purchasing an additional 556 shares in the last quarter. Finally, Millburn Ridgefield Corp boosted its position in Tetra Tech by 346.9% during the third quarter. Millburn Ridgefield Corp now owns 800 shares of the industrial products company's stock valued at $37,000 after purchasing an additional 621 shares in the last quarter. Hedge funds and other institutional investors own 93.89% of the company's stock.

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Tetra Tech Stock Performance

Shares of NASDAQ:TTEK traded up $1.45 during trading on Friday, hitting $30.02. The stock had a trading volume of 4,030,036 shares, compared to its average volume of 3,361,846. Tetra Tech, Inc. has a 12-month low of $28.17 and a 12-month high of $51.20. The stock has a market capitalization of $8.05 billion, a price-to-earnings ratio of 31.53 and a beta of 0.89. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.53. The stock has a 50-day simple moving average of $35.52 and a two-hundred day simple moving average of $42.03.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last announced 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%. On average, equities research analysts expect that Tetra Tech, Inc. will post 1.37 earnings per share for the current fiscal year.

Tetra Tech Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were paid a $0.058 dividend. This represents a $0.23 annualized dividend and a dividend yield of 0.77%. The ex-dividend date was Wednesday, February 12th. Tetra Tech's payout ratio is 24.21%.

Analyst Ratings Changes

Several brokerages have weighed in on TTEK. StockNews.com downgraded Tetra Tech from a "buy" rating to a "hold" rating in a report on Friday, November 15th. Maxim Group downgraded Tetra Tech from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Robert W. Baird raised their price target on Tetra Tech from $46.00 to $47.00 and gave the stock a "neutral" rating in a report on Thursday, November 14th. Royal Bank of Canada set a $49.00 price target on Tetra Tech in a report on Friday, January 31st. Finally, KeyCorp lowered their price target on Tetra Tech from $49.00 to $45.00 and set an "overweight" rating for the company in a report on Friday, January 31st. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, Tetra Tech has a consensus rating of "Moderate Buy" and an average target price of $47.92.

Insider Transactions at Tetra Tech

In related news, Director Kirsten M. Volpi sold 10,116 shares of Tetra Tech stock in a transaction that occurred 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 transaction, the director now directly owns 60,196 shares in the company, valued at approximately $2,066,528.68. This trade represents a 14.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.40% of the company's stock.

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.