Pictet Asset Management Holding SA Increases Stock Holdings in Tetra Tech, Inc. (NASDAQ:TTEK)

Pictet Asset Management Holding SA lifted its holdings in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 2.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,018,887 shares of the industrial products company's stock after purchasing an additional 381,437 shares during the period. Pictet Asset Management Holding SA owned approximately 5.23% of Tetra Tech worth $558,512,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in TTEK. Geode Capital Management LLC raised its position in Tetra Tech by 406.6% in the 3rd quarter. Geode Capital Management LLC now owns 4,716,080 shares of the industrial products company's stock valued at $222,466,000 after purchasing an additional 3,785,189 shares in the last quarter. Norges Bank purchased a new stake in shares of Tetra Tech during the fourth quarter worth approximately $121,390,000. King Luther Capital Management Corp raised its holdings in Tetra Tech by 324.0% in the fourth quarter. King Luther Capital Management Corp now owns 1,278,295 shares of the industrial products company's stock valued at $50,927,000 after acquiring an additional 976,810 shares in the last quarter. Rockefeller Capital Management L.P. lifted its stake in Tetra Tech by 365.0% in the third quarter. Rockefeller Capital Management L.P. now owns 1,138,716 shares of the industrial products company's stock worth $53,739,000 after acquiring an additional 893,827 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in Tetra Tech by 365.5% during the 3rd quarter. Wellington Management Group LLP now owns 1,077,828 shares of the industrial products company's stock worth $50,830,000 after acquiring an additional 846,284 shares in the last quarter. 93.89% of the stock is owned by hedge funds and other institutional investors.

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Insider Transactions at Tetra Tech

In related news, Director Kirsten M. Volpi sold 10,116 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $34.33, for a total transaction of $347,282.28. Following the completion of the sale, the director now owns 60,196 shares in the company, valued at $2,066,528.68. This represents a 14.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.40% of the company's stock.

Analyst Upgrades and Downgrades

TTEK has been the topic of a number of analyst reports. KeyCorp reduced their price objective on shares of Tetra Tech from $49.00 to $45.00 and set an "overweight" rating on the stock in a report on Friday, January 31st. Maxim Group downgraded Tetra Tech from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Finally, Royal Bank of Canada set a $49.00 price objective on Tetra Tech in a report on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $47.92.

Tetra Tech Stock Up 0.3 %

NASDAQ:TTEK traded up $0.10 during midday trading on Monday, hitting $29.25. 655,608 shares of the company were exchanged, compared to its average volume of 1,957,502. Tetra Tech, Inc. has a fifty-two week low of $28.17 and a fifty-two week high of $51.20. The company has a market capitalization of $7.84 billion, a PE ratio of 30.85 and a beta of 0.93. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.53. The company has a fifty day simple moving average of $32.13 and a 200 day simple moving average of $40.16.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last posted its earnings results on Wednesday, January 29th. The industrial products company reported $0.35 EPS for the quarter, topping analysts' consensus estimates of $0.34 by $0.01. Tetra Tech had a return on equity of 22.58% and a net margin of 4.81%. As a group, equities analysts anticipate 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 issued a $0.058 dividend. This represents a $0.23 annualized dividend and a dividend yield of 0.79%. The ex-dividend date of this dividend was Wednesday, February 12th. Tetra Tech's payout ratio is currently 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.