Tetra Tech, Inc. (NASDAQ:TTEK) Shares Bought by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D increased its position in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 400.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 95,665 shares of the industrial products company's stock after purchasing an additional 76,532 shares during the period. State of New Jersey Common Pension Fund D's holdings in Tetra Tech were worth $4,512,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sarasin & Partners LLP increased its stake in shares of Tetra Tech by 330.9% in the third quarter. Sarasin & Partners LLP now owns 4,950,383 shares of the industrial products company's stock worth $233,460,000 after acquiring an additional 3,801,435 shares during the period. Allspring Global Investments Holdings LLC grew its stake in Tetra Tech by 387.3% during 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 lifted its position in Tetra Tech by 353.0% during the third quarter. abrdn plc now owns 2,110,076 shares of the industrial products company's stock worth $98,477,000 after buying an additional 1,644,267 shares in the last quarter. Copeland Capital Management LLC raised its stake in Tetra Tech by 289.0% during the third quarter. Copeland Capital Management LLC now owns 1,824,250 shares of the industrial products company's stock worth $86,032,000 after purchasing an additional 1,355,351 shares during the period. Finally, Vontobel Holding Ltd. raised its position in shares of Tetra Tech by 409.4% during 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 buying an additional 1,145,738 shares during the period. 93.89% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on TTEK shares. Robert W. Baird lifted their target price on shares of Tetra Tech from $44.60 to $46.00 and gave the company a "neutral" rating in a report on Thursday, August 1st. KeyCorp increased their target price on Tetra Tech from $49.00 to $56.00 and gave the company an "overweight" rating in a report on Tuesday, October 8th. StockNews.com raised shares of Tetra Tech from a "hold" rating to a "buy" rating in a research report on Tuesday, October 15th. Finally, Royal Bank of Canada raised their price target on Tetra Tech from $46.60 to $51.80 and gave the stock an "outperform" rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Tetra Tech presently has an average rating of "Moderate Buy" and an average price target of $50.48.

Insider Activity

In related news, CFO Steven M. Burdick sold 36,830 shares of the company's stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $46.57, for a total value of $1,715,173.10. Following the transaction, the chief financial officer now owns 112,620 shares in the company, valued at approximately $5,244,713.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Kimberly E. Ritrievi sold 6,500 shares of the firm's stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $46.48, for a total value of $302,120.00. Following the transaction, the director now owns 143,200 shares in the company, valued at approximately $6,655,936. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Steven M. Burdick sold 36,830 shares of Tetra Tech stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $46.57, for a total transaction of $1,715,173.10. Following the transaction, the chief financial officer now owns 112,620 shares of the company's stock, valued at $5,244,713.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 121,750 shares of company stock valued at $5,633,239 over the last three months. 0.61% of the stock is owned by insiders.

Tetra Tech Stock Performance

Shares of TTEK traded down $0.91 during mid-day trading on Wednesday, hitting $47.35. The company's stock had a trading volume of 2,634,261 shares, compared to its average volume of 1,406,217. The firm has a market capitalization of $12.67 billion, a PE ratio of 43.76 and a beta of 0.94. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.21 and a current ratio of 1.21. Tetra Tech, Inc. has a one year low of $30.92 and a one year high of $51.20. The stock's 50-day moving average is $47.82 and its two-hundred day moving average is $44.55.

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.