Spire Wealth Management Has $414,000 Holdings in Tetra Tech, Inc. (NASDAQ:TTEK)

Spire Wealth Management reduced its stake in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 56.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,379 shares of the industrial products company's stock after selling 13,716 shares during the period. Spire Wealth Management's holdings in Tetra Tech were worth $414,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of TTEK. Allworth Financial LP raised its stake in shares of Tetra Tech by 629.3% in the third quarter. Allworth Financial LP now owns 547 shares of the industrial products company's stock valued at $26,000 after acquiring an additional 472 shares in the last quarter. LGT Financial Advisors LLC raised its stake in shares of Tetra Tech by 400.0% in the third quarter. LGT Financial Advisors LLC now owns 555 shares of the industrial products company's stock valued at $26,000 after acquiring an additional 444 shares in the last quarter. Venturi Wealth Management LLC raised its stake 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 valued at $29,000 after acquiring an additional 587 shares in the last quarter. Canton Hathaway LLC raised its stake in shares of Tetra Tech by 400.0% in the third quarter. Canton Hathaway LLC now owns 645 shares of the industrial products company's stock valued at $30,000 after acquiring an additional 516 shares in the last quarter. Finally, USA Financial Formulas raised its stake 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 valued at $33,000 after acquiring an additional 545 shares in the last quarter. 93.89% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Kirsten M. Volpi sold 10,116 shares of the company's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $34.33, for a total value of $347,282.28. Following the sale, the director now owns 60,196 shares of the company's stock, valued at approximately $2,066,528.68. This represents a 14.39 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

TTEK has been the topic of a number of analyst reports. Royal Bank of Canada restated an "outperform" rating and issued a $52.00 price target on shares of Tetra Tech in a research note on Friday, November 15th. Maxim Group cut Tetra Tech from a "buy" rating to a "hold" rating in a research note on Thursday. StockNews.com cut Tetra Tech from a "buy" rating to a "hold" rating in a research note on Friday, November 15th. Robert W. Baird raised their price target on Tetra Tech from $46.00 to $47.00 and gave the company a "neutral" rating in a research note on Thursday, November 14th. Finally, KeyCorp cut their target price on Tetra Tech from $49.00 to $45.00 and set an "overweight" rating on the stock in a research report on Friday, January 31st. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, Tetra Tech has a consensus rating of "Moderate Buy" and an average price target of $48.52.

Tetra Tech Stock Performance

Shares of TTEK traded down $0.38 during midday trading on Friday, reaching $33.40. 4,317,914 shares of the stock were exchanged, compared to its average volume of 4,005,325. The company has a market capitalization of $8.95 billion, a price-to-earnings ratio of 35.08 and a beta of 0.89. Tetra Tech, Inc. has a twelve month low of $31.09 and a twelve month high of $51.20. The business's 50-day moving average price is $40.00 and its 200 day moving average price is $43.97. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.29 and a quick ratio of 1.25.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.01. Tetra Tech had a return on equity of 22.58% and a net margin of 4.81%. On average, sell-side analysts expect that Tetra Tech, Inc. will post 1.37 EPS for the current fiscal year.

Tetra Tech Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th will be given a dividend of $0.058 per share. This represents a $0.23 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend is Wednesday, February 12th. Tetra Tech's payout ratio is 24.16%.

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.