Public Employees Retirement System of Ohio Grows Stock Position in Tetra Tech, Inc. (NASDAQ:TTEK)

Public Employees Retirement System of Ohio lifted its position in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 376.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 98,740 shares of the industrial products company's stock after acquiring an additional 78,008 shares during the period. Public Employees Retirement System of Ohio's holdings in Tetra Tech were worth $4,657,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in TTEK. Sarasin & Partners LLP lifted its position in Tetra Tech by 330.9% during the third quarter. Sarasin & Partners LLP now owns 4,950,383 shares of the industrial products company's stock valued at $233,460,000 after buying an additional 3,801,435 shares during the period. Allspring Global Investments Holdings LLC lifted its position in Tetra Tech by 387.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,299,418 shares of the industrial products company's stock valued at $155,601,000 after acquiring an additional 2,622,288 shares during the period. abrdn plc grew its holdings in Tetra Tech by 353.0% in the third quarter. abrdn plc now owns 2,110,076 shares of the industrial products company's stock worth $98,477,000 after purchasing an additional 1,644,267 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Tetra Tech by 357.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,070,483 shares of the industrial products company's stock valued at $97,644,000 after purchasing an additional 1,618,211 shares in the last quarter. Finally, Copeland Capital Management LLC lifted its holdings in shares of Tetra Tech by 289.0% during the third quarter. Copeland Capital Management LLC now owns 1,824,250 shares of the industrial products company's stock valued at $86,032,000 after purchasing an additional 1,355,351 shares during the last quarter. Hedge funds and other institutional investors own 93.89% of the company's stock.

Analysts Set New Price Targets

TTEK has been the topic of several recent research 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. StockNews.com cut Tetra Tech from a "buy" rating to a "hold" rating in a research note on Friday, November 15th. Robert W. Baird lifted their price target on Tetra Tech from $46.00 to $47.00 and gave the stock a "neutral" rating in a research report on Thursday, November 14th. Finally, KeyCorp cut their price objective 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. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Tetra Tech currently has an average rating of "Moderate Buy" and a consensus price target of $49.32.

Tetra Tech Stock Performance

Shares of NASDAQ:TTEK traded up $0.29 during midday trading on Friday, reaching $42.04. 1,464,536 shares of the company's stock traded hands, compared to its average volume of 2,319,112. Tetra Tech, Inc. has a one year low of $31.61 and a one year high of $51.20. The stock has a 50 day moving average of $45.61 and a 200 day moving average of $44.51. The company has a market cap of $11.26 billion, a price-to-earnings ratio of 34.12 and a beta of 0.88. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.25 and a current ratio of 1.25.

Tetra Tech Announces Dividend

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

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.