Principal Financial Group Inc. Buys 555,789 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

Principal Financial Group Inc. lifted its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 279.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 754,702 shares of the industrial products company's stock after acquiring an additional 555,789 shares during the quarter. Principal Financial Group Inc. owned 0.28% of Tetra Tech worth $35,592,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Raymond James & Associates increased its stake in Tetra Tech by 5.6% in the 2nd quarter. Raymond James & Associates now owns 29,821 shares of the industrial products company's stock worth $6,098,000 after purchasing an additional 1,578 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Tetra Tech by 3.0% during the second quarter. Bank of New York Mellon Corp now owns 488,695 shares of the industrial products company's stock valued at $99,928,000 after acquiring an additional 14,060 shares during the period. Arkadios Wealth Advisors lifted its position in shares of Tetra Tech by 5.6% in the 2nd quarter. Arkadios Wealth Advisors now owns 3,117 shares of the industrial products company's stock valued at $637,000 after acquiring an additional 165 shares in the last quarter. Lazard Freres Gestion S.A.S. acquired a new position in Tetra Tech in the 2nd quarter worth approximately $37,829,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Tetra Tech by 544.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 76,527 shares of the industrial products company's stock worth $15,648,000 after purchasing an additional 64,661 shares in the last quarter. 93.89% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. KeyCorp decreased their target price on Tetra Tech from $56.00 to $49.00 and set an "overweight" rating for the company in a research report on Friday, November 15th. 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. StockNews.com cut shares of Tetra Tech from a "buy" rating to a "hold" rating in a report on Friday, November 15th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $52.00 price objective on shares of Tetra Tech in a research note on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Tetra Tech presently has a consensus rating of "Moderate Buy" and a consensus price target of $49.32.

Tetra Tech Stock Up 0.2 %

NASDAQ TTEK traded up $0.07 during trading on Tuesday, reaching $39.90. The company's stock had a trading volume of 454,629 shares, compared to its average volume of 1,539,295. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $10.68 billion, a PE ratio of 32.39 and a beta of 0.89. Tetra Tech, Inc. has a 1-year low of $31.61 and a 1-year high of $51.20. The business has a 50-day moving average price of $44.60 and a 200-day moving average price of $44.45.

Tetra Tech Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Wednesday, November 27th were issued a $0.058 dividend. This represents a $0.23 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend was Wednesday, November 27th. Tetra Tech's dividend payout ratio is presently 18.70%.

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.