Geode Capital Management LLC Raises Stock Position in Tetra Tech, Inc. (NASDAQ:TTEK)

Geode Capital Management LLC raised its stake in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 406.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,716,080 shares of the industrial products company's stock after purchasing an additional 3,785,189 shares during the period. Geode Capital Management LLC owned 1.76% of Tetra Tech worth $222,466,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TTEK. Sarasin & Partners LLP boosted its position in shares of Tetra Tech by 330.9% in the 3rd quarter. Sarasin & Partners LLP now owns 4,950,383 shares of the industrial products company's stock valued at $233,460,000 after purchasing an additional 3,801,435 shares during the period. Allspring Global Investments Holdings LLC lifted its stake 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 valued at $155,601,000 after buying an additional 2,622,288 shares during the last quarter. abrdn plc boosted its holdings in shares of Tetra Tech by 353.0% in the third quarter. abrdn plc now owns 2,110,076 shares of the industrial products company's stock valued at $98,477,000 after acquiring an additional 1,644,267 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Tetra Tech by 357.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,070,483 shares of the industrial products company's stock worth $97,644,000 after acquiring an additional 1,618,211 shares during the last quarter. Finally, Copeland Capital Management LLC increased its holdings 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 acquiring an additional 1,355,351 shares during the period. Institutional investors and hedge funds own 93.89% of the company's stock.

Wall Street Analyst Weigh In

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

Tetra Tech Stock Performance

NASDAQ TTEK traded up $0.29 during trading hours on Friday, hitting $42.04. 1,464,536 shares of the stock were exchanged, compared to its average volume of 2,319,112. 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 company has a market cap of $11.26 billion, a price-to-earnings ratio of 34.12 and a beta of 0.88. Tetra Tech, Inc. has a 12-month low of $31.61 and a 12-month high of $51.20. The stock has a 50-day moving average of $45.61 and a 200 day moving average of $44.51.

Tetra Tech Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th were paid a dividend of $0.058 per share. This represents a $0.23 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date was Wednesday, November 27th. Tetra Tech's dividend payout ratio (DPR) is 18.67%.

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.