Freedom Investment Management Inc. Buys 20,660 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

Freedom Investment Management Inc. grew its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 530.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,556 shares of the industrial products company's stock after buying an additional 20,660 shares during the quarter. Freedom Investment Management Inc.'s holdings in Tetra Tech were worth $1,158,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of TTEK. CWM LLC lifted its position in Tetra Tech by 20.2% in the 2nd quarter. CWM LLC now owns 304 shares of the industrial products company's stock valued at $62,000 after purchasing an additional 51 shares during the last quarter. ELCO Management Co. LLC boosted its holdings in shares of Tetra Tech by 4.8% in the second quarter. ELCO Management Co. LLC now owns 1,313 shares of the industrial products company's stock worth $268,000 after buying an additional 60 shares during the period. CIBC Asset Management Inc boosted its holdings in shares of Tetra Tech by 4.8% during the second quarter. CIBC Asset Management Inc now owns 1,524 shares of the industrial products company's stock worth $312,000 after purchasing an additional 70 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of Tetra Tech by 4.0% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,021 shares of the industrial products company's stock worth $413,000 after purchasing an additional 77 shares during the period. Finally, Victory Capital Management Inc. boosted its holdings in shares of Tetra Tech by 0.8% during the second quarter. Victory Capital Management Inc. now owns 11,229 shares of the industrial products company's stock worth $2,296,000 after purchasing an additional 86 shares during the period. 93.89% of the stock is currently owned by hedge funds and other institutional investors.

Tetra Tech Price Performance

NASDAQ TTEK traded down $0.11 on Thursday, hitting $41.47. 1,710,542 shares of the company were exchanged, compared to its average volume of 2,925,222. The firm has a 50 day moving average of $46.77 and a two-hundred day moving average of $44.60. The company has a market cap of $11.10 billion, a P/E ratio of 33.66 and a beta of 0.94. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.44. Tetra Tech, Inc. has a 1-year low of $30.92 and a 1-year high of $51.20.

Tetra Tech Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th will be issued a dividend of $0.058 per share. The ex-dividend date is Wednesday, November 27th. This represents a $0.23 annualized dividend and a yield of 0.56%. Tetra Tech's dividend payout ratio is currently 18.67%.

Analysts Set New Price Targets

A number of research firms have recently commented on TTEK. KeyCorp dropped 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 report on Friday, November 15th. Robert W. Baird boosted their price target on shares of Tetra Tech from $46.00 to $47.00 and gave the company a "neutral" rating in a report on Thursday, November 14th. StockNews.com downgraded shares of Tetra Tech from a "buy" rating to a "hold" rating in a research note on Friday, November 15th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $52.00 target price on shares of Tetra Tech in a research note on Friday, November 15th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $49.32.

Insiders Place Their Bets

In other Tetra Tech news, Director Kimberly E. Ritrievi sold 6,500 shares of the business's stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $46.48, for a total transaction of $302,120.00. Following the completion of the sale, the director now directly owns 143,200 shares of the company's stock, valued at approximately $6,655,936. The trade was a 4.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Steven M. Burdick sold 36,830 shares of the business's stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $46.57, for a total value of $1,715,173.10. Following the sale, the chief financial officer now directly owns 112,620 shares of the company's stock, valued at $5,244,713.40. This represents a 24.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 121,750 shares of company stock valued at $5,633,239. 0.61% of the stock is currently owned by insiders.

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.