Retirement Systems of Alabama Buys 311,338 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

Retirement Systems of Alabama lifted its holdings in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 393.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 390,476 shares of the industrial products company's stock after buying an additional 311,338 shares during the period. Retirement Systems of Alabama owned approximately 0.15% of Tetra Tech worth $18,415,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also made changes to their positions in the stock. Oddo BHF Asset Management Sas acquired a new position in Tetra Tech during the 3rd quarter worth approximately $2,345,000. Synovus Financial Corp raised its position in shares of Tetra Tech by 400.0% in the 3rd quarter. Synovus Financial Corp now owns 7,335 shares of the industrial products company's stock valued at $346,000 after purchasing an additional 5,868 shares in the last quarter. Tidal Investments LLC raised its position in shares of Tetra Tech by 226.7% during the 3rd quarter. Tidal Investments LLC now owns 11,722 shares of the industrial products company's stock valued at $553,000 after acquiring an additional 8,134 shares in the last quarter. Cim Investment Management Inc. boosted its holdings in shares of Tetra Tech by 400.0% in the 3rd quarter. Cim Investment Management Inc. now owns 5,255 shares of the industrial products company's stock valued at $248,000 after buying an additional 4,204 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Tetra Tech during the third quarter valued at approximately $522,000. 93.89% of the stock is currently owned by hedge funds and other institutional investors.

Tetra Tech Trading Up 0.7 %

TTEK stock traded up $0.29 during midday trading on Friday, hitting $42.04. The stock had a trading volume of 1,464,536 shares, compared to its average volume of 2,319,112. 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 business has a fifty day moving average price of $45.61 and a two-hundred day moving average price of $44.51. Tetra Tech, Inc. has a 1-year low of $31.61 and a 1-year high of $51.20. The firm has a market cap of $11.26 billion, a P/E ratio of 34.12 and a beta of 0.88.

Tetra Tech Announces Dividend

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

Analyst Ratings Changes

A number of brokerages have recently weighed in on TTEK. Robert W. Baird upped their target price on Tetra Tech from $46.00 to $47.00 and gave the company a "neutral" rating in a report on Thursday, November 14th. StockNews.com lowered shares of Tetra Tech from a "buy" rating to a "hold" rating 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 research note on Friday, November 15th. Finally, KeyCorp cut their price target on shares of Tetra Tech from $56.00 to $49.00 and set an "overweight" rating on the stock 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 company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $49.32.

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.