Fred Alger Management LLC Acquires 42,516 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

Fred Alger Management LLC grew its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 400.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 53,145 shares of the industrial products company's stock after acquiring an additional 42,516 shares during the period. Fred Alger Management LLC's holdings in Tetra Tech were worth $2,506,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of TTEK. Captrust Financial Advisors grew its stake in Tetra Tech by 463.7% in the third quarter. Captrust Financial Advisors now owns 24,724 shares of the industrial products company's stock valued at $1,166,000 after purchasing an additional 20,338 shares in the last quarter. Rockefeller Capital Management L.P. lifted its holdings in shares of Tetra Tech by 365.0% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 1,138,716 shares of the industrial products company's stock valued at $53,739,000 after buying an additional 893,827 shares during the last quarter. Walleye Capital LLC grew its stake in shares of Tetra Tech by 2,141.2% in the 3rd quarter. Walleye Capital LLC now owns 6,096 shares of the industrial products company's stock valued at $287,000 after buying an additional 5,824 shares in the last quarter. Martingale Asset Management L P increased its holdings in Tetra Tech by 368.7% in the third quarter. Martingale Asset Management L P now owns 470,761 shares of the industrial products company's stock worth $22,201,000 after buying an additional 370,323 shares during the last quarter. Finally, Isthmus Partners LLC raised its position in Tetra Tech by 302.3% during the third quarter. Isthmus Partners LLC now owns 95,464 shares of the industrial products company's stock valued at $4,502,000 after acquiring an additional 71,736 shares in the last quarter. 93.89% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Tetra Tech

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

Tetra Tech Stock Performance

Shares of NASDAQ:TTEK traded up $0.26 during midday trading on Monday, hitting $41.77. The company's stock had a trading volume of 2,184,688 shares, compared to its average volume of 1,508,786. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.25 and a current ratio of 1.25. The stock's 50 day simple moving average is $46.48 and its 200 day simple moving average is $44.58. The stock has a market capitalization of $11.18 billion, a price-to-earnings ratio of 33.90 and a beta of 0.89. Tetra Tech, Inc. has a fifty-two week low of $31.61 and a fifty-two week high of $51.20.

Tetra Tech Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th will be given a $0.058 dividend. This represents a $0.23 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend is Wednesday, November 27th. Tetra Tech's dividend payout ratio is currently 18.67%.

Analysts Set New Price Targets

Several research analysts have recently commented on TTEK shares. Robert W. Baird increased their price target on shares of Tetra Tech from $46.00 to $47.00 and gave the stock a "neutral" rating in a research note on Thursday, November 14th. Royal Bank of Canada reissued an "outperform" rating and set a $52.00 target price on shares of Tetra Tech in a research report on Friday, November 15th. StockNews.com cut Tetra Tech from a "buy" rating to a "hold" rating in a research report on Friday, November 15th. Finally, KeyCorp lowered their price objective on Tetra Tech from $56.00 to $49.00 and set an "overweight" rating on the stock in a report on Friday, November 15th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $49.32.

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.