Tetra Tech, Inc. (NASDAQ:TTEK) Shares Acquired by Point72 Asset Management L.P.

Point72 Asset Management L.P. lifted its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 327.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,515 shares of the industrial products company's stock after acquiring an additional 15,715 shares during the quarter. Point72 Asset Management L.P.'s holdings in Tetra Tech were worth $967,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Harbor Capital Advisors Inc. raised its holdings in Tetra Tech by 630.8% in the third quarter. Harbor Capital Advisors Inc. now owns 36,430 shares of the industrial products company's stock valued at $1,718,000 after acquiring an additional 31,445 shares in the last quarter. Arkadios Wealth Advisors increased its position in shares of Tetra Tech by 615.8% in the 3rd quarter. Arkadios Wealth Advisors now owns 22,310 shares of the industrial products company's stock valued at $1,052,000 after purchasing an additional 19,193 shares during the last quarter. SFE Investment Counsel raised its holdings in shares of Tetra Tech by 374.8% in the 3rd quarter. SFE Investment Counsel now owns 36,330 shares of the industrial products company's stock valued at $1,713,000 after purchasing an additional 28,679 shares in the last quarter. Caldwell Investment Management Ltd. lifted its position in shares of Tetra Tech by 400.0% during the 3rd quarter. Caldwell Investment Management Ltd. now owns 46,500 shares of the industrial products company's stock worth $2,157,000 after purchasing an additional 37,200 shares during the last quarter. Finally, Banque Cantonale Vaudoise grew its stake in shares of Tetra Tech by 400.0% during the third quarter. Banque Cantonale Vaudoise now owns 695 shares of the industrial products company's stock worth $33,000 after purchasing an additional 556 shares in the last quarter. 93.89% of the stock is currently owned by institutional investors and hedge funds.

Tetra Tech Stock Performance

NASDAQ TTEK traded up $0.06 on Wednesday, hitting $42.47. 841,287 shares of the company's stock were exchanged, compared to its average volume of 1,519,759. The firm has a market cap of $11.37 billion, a price-to-earnings ratio of 34.42 and a beta of 0.89. The firm's 50-day moving average price is $45.96 and its two-hundred day moving average price is $44.54. Tetra Tech, Inc. has a fifty-two week low of $31.61 and a fifty-two week high of $51.20. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.25 and a quick ratio of 1.25.

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 paid a $0.058 dividend. This represents a $0.23 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend is Wednesday, November 27th. Tetra Tech's payout ratio is 18.67%.

Analysts Set New Price Targets

Several brokerages have commented on TTEK. Royal Bank of Canada reiterated an "outperform" rating and issued a $52.00 price target on shares of Tetra Tech in a research note on Friday, November 15th. Robert W. Baird lifted 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. KeyCorp decreased their price objective 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. Finally, StockNews.com lowered shares of Tetra Tech from a "buy" rating to a "hold" rating in a research report on Friday, November 15th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $49.32.

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.