Martingale Asset Management L P Purchases 370,323 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

Martingale Asset Management L P increased its position in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 368.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 470,761 shares of the industrial products company's stock after buying an additional 370,323 shares during the quarter. Martingale Asset Management L P owned 0.18% of Tetra Tech worth $22,201,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Sarasin & Partners LLP grew its holdings in shares of 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 in the last quarter. Allspring Global Investments Holdings LLC lifted its position in Tetra Tech by 387.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,299,418 shares of the industrial products company's stock worth $155,601,000 after purchasing an additional 2,622,288 shares during the period. abrdn plc boosted its stake 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. Charles Schwab Investment Management Inc. increased its holdings in Tetra Tech by 357.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,070,483 shares of the industrial products company's stock valued at $97,644,000 after buying an additional 1,618,211 shares during the period. Finally, Copeland Capital Management LLC raised its stake in shares of 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 buying an additional 1,355,351 shares in the last quarter. 93.89% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insider Activity at Tetra Tech

In other news, CFO Steven M. Burdick sold 36,830 shares of the business's stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $46.57, for a total value of $1,715,173.10. Following the sale, the chief financial officer now directly owns 112,620 shares in the company, valued at $5,244,713.40. The trade was a 24.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Leslie L. Shoemaker sold 78,420 shares of the company's stock in a transaction that occurred 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 directly owns 296,015 shares of the company's stock, valued at approximately $13,649,251.65. This trade represents a 20.94 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 121,750 shares of company stock worth $5,633,239. 0.61% of the stock is owned by insiders.

Tetra Tech Trading Up 0.1 %

TTEK stock traded up $0.04 during midday trading on Friday, reaching $41.51. The stock had a trading volume of 1,335,695 shares, compared to its average volume of 1,505,794. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.44. The firm has a market cap of $11.11 billion, a price-to-earnings ratio of 33.66 and a beta of 0.94. The business has a fifty day simple moving average of $46.67 and a two-hundred day simple moving average of $44.59. Tetra Tech, Inc. has a twelve month low of $30.92 and a twelve month high of $51.20.

Tetra Tech Dividend Announcement

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

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.