Trexquant Investment LP Increases Stake in Tetra Tech, Inc. (NASDAQ:TTEK)

Trexquant Investment LP grew its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 109.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 279,406 shares of the industrial products company's stock after buying an additional 145,736 shares during the period. Trexquant Investment LP owned 0.10% of Tetra Tech worth $11,132,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. New England Research & Management Inc. acquired a new stake in Tetra Tech during the 4th quarter worth $596,000. Nicola Wealth Management LTD. lifted its holdings in shares of Tetra Tech by 36.8% in the 4th quarter. Nicola Wealth Management LTD. now owns 65,000 shares of the industrial products company's stock valued at $2,590,000 after purchasing an additional 17,500 shares during the last quarter. Lecap Asset Management Ltd. boosted its position in shares of Tetra Tech by 71.3% in the 4th quarter. Lecap Asset Management Ltd. now owns 44,769 shares of the industrial products company's stock valued at $1,784,000 after purchasing an additional 18,635 shares during the period. Y Intercept Hong Kong Ltd grew its stake in Tetra Tech by 53.3% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 39,150 shares of the industrial products company's stock worth $1,560,000 after buying an additional 13,606 shares during the last quarter. Finally, Perpetual Ltd increased its position in Tetra Tech by 9.6% during the fourth quarter. Perpetual Ltd now owns 215,042 shares of the industrial products company's stock worth $8,567,000 after buying an additional 18,842 shares during the period. 93.89% of the stock is owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

TTEK has been the subject of several research analyst reports. Maxim Group downgraded Tetra Tech from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. KeyCorp decreased their price target on shares of Tetra Tech from $49.00 to $45.00 and set an "overweight" rating for the company in a research note on Friday, January 31st. Finally, Royal Bank of Canada set a $49.00 price objective on shares of Tetra Tech in a research note on Friday, January 31st. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $47.92.

Insider Buying and Selling

In other Tetra Tech news, Director Kirsten M. Volpi sold 10,116 shares of the business's stock in a transaction 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 completion of the transaction, the director now directly owns 60,196 shares in the company, valued at approximately $2,066,528.68. The trade was a 14.39 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.40% of the stock is owned by company insiders.

Tetra Tech Price Performance

Shares of TTEK stock traded down $0.83 during mid-day trading on Monday, reaching $28.28. The stock had a trading volume of 871,022 shares, compared to its average volume of 1,976,530. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.53. The business has a 50-day simple moving average of $31.02 and a 200 day simple moving average of $39.54. Tetra Tech, Inc. has a 12-month low of $27.27 and a 12-month high of $51.20. The company has a market cap of $7.58 billion, a P/E ratio of 29.53 and a beta of 0.89.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $0.35 earnings per share for the quarter, topping analysts' consensus estimates 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 anticipate that Tetra Tech, Inc. will post 1.37 earnings per share for the current year.

Tetra Tech Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were paid a dividend of $0.058 per share. This represents a $0.23 annualized dividend and a dividend yield of 0.82%. The ex-dividend date was Wednesday, February 12th. Tetra Tech's payout ratio is 24.21%.

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.