Charles Schwab Investment Management Inc. Buys 1,618,211 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

Charles Schwab Investment Management Inc. grew its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 357.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,070,483 shares of the industrial products company's stock after purchasing an additional 1,618,211 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.77% of Tetra Tech worth $97,644,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in TTEK. Allworth Financial LP boosted its position in shares of Tetra Tech by 629.3% during the 3rd quarter. Allworth Financial LP now owns 547 shares of the industrial products company's stock valued at $26,000 after purchasing an additional 472 shares in the last quarter. LGT Financial Advisors LLC boosted its position in shares of Tetra Tech by 400.0% during the 3rd 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. Banque Cantonale Vaudoise acquired a new position in shares of Tetra Tech in the second quarter worth about $28,000. Venturi Wealth Management LLC boosted its holdings in shares of Tetra Tech by 3,261.1% in the third quarter. Venturi Wealth Management LLC now owns 605 shares of the industrial products company's stock worth $29,000 after buying an additional 587 shares during the period. Finally, USA Financial Formulas boosted its holdings in shares of Tetra Tech by 332.3% in the third quarter. USA Financial Formulas now owns 709 shares of the industrial products company's stock worth $33,000 after buying an additional 545 shares during the period. Institutional investors own 93.89% of the company's stock.

Insider Activity at Tetra Tech

In other news, Director Kimberly E. Ritrievi sold 6,500 shares of Tetra Tech 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 of the company's stock, valued at $6,655,936. This trade represents a 4.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 completion of the transaction, the chief financial officer now directly owns 112,620 shares in the company, valued at approximately $5,244,713.40. This represents a 24.64 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 121,750 shares of company stock valued at $5,633,239. 0.61% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

Tetra Tech Stock Down 0.3 %

Shares of TTEK stock traded down $0.11 during trading on Wednesday, hitting $41.47. 1,690,705 shares of the company were exchanged, compared to its average volume of 1,506,534. 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 firm has a market capitalization of $11.10 billion, a price-to-earnings ratio of 33.80 and a beta of 0.94. The business's 50-day simple moving average is $46.86 and its 200 day simple moving average is $44.61. Tetra Tech, Inc. has a twelve month low of $30.92 and a twelve month high of $51.20.

Tetra Tech Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors 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 yield of 0.56%. The ex-dividend date of this dividend is Wednesday, November 27th. Tetra Tech's payout ratio is presently 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.