United Services Automobile Association Invests $838,000 in Tetra Tech, Inc. (NASDAQ:TTEK)

United Services Automobile Association acquired a new stake in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 17,769 shares of the industrial products company's stock, valued at approximately $838,000.

Several other large investors also recently bought and sold shares of TTEK. Sarasin & Partners LLP lifted its holdings in shares of Tetra Tech by 330.9% in the 3rd 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 boosted its holdings in Tetra Tech by 387.3% in the third 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 last quarter. abrdn plc lifted its stake in shares of Tetra Tech by 353.0% during 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 in the last quarter. Charles Schwab Investment Management Inc. increased its position 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 worth $97,644,000 after acquiring an additional 1,618,211 shares during the last quarter. Finally, Copeland Capital Management LLC grew 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.

Insider Buying and Selling

In related news, Director Kimberly E. Ritrievi sold 6,500 shares of the 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 owns 143,200 shares in the company, valued at approximately $6,655,936. This trade represents a 4.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Leslie L. Shoemaker sold 78,420 shares of Tetra Tech stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $46.11, for a total transaction of $3,615,946.20. Following the completion of the sale, the executive vice president now owns 296,015 shares in the company, valued at approximately $13,649,251.65. This represents a 20.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 121,750 shares of company stock worth $5,633,239. Insiders own 0.61% of the company's stock.

Tetra Tech Stock Down 0.9 %

TTEK traded down $0.39 during mid-day trading on Monday, reaching $42.30. 1,822,603 shares of the stock were exchanged, compared to its average volume of 1,523,065. Tetra Tech, Inc. has a 1 year low of $31.61 and a 1 year high of $51.20. The stock has a market capitalization of $11.33 billion, a PE ratio of 34.65 and a beta of 0.89. The company has a 50 day moving average price of $46.14 and a two-hundred day moving average price of $44.56. 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 company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th will be issued a $0.058 dividend. This represents a $0.23 annualized dividend and a yield of 0.55%. The ex-dividend date is Wednesday, November 27th. Tetra Tech's payout ratio is 18.67%.

Analyst Ratings Changes

TTEK has been the topic of several research reports. KeyCorp dropped their price target on Tetra Tech from $56.00 to $49.00 and set an "overweight" rating on the stock in a report on Friday, November 15th. StockNews.com cut shares of Tetra Tech from a "buy" rating to a "hold" rating in a research note on Friday, November 15th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $52.00 price objective on shares of Tetra Tech in a report on Friday, November 15th. Finally, Robert W. Baird lifted their target price on shares of Tetra Tech from $46.00 to $47.00 and gave the stock a "neutral" rating in a report on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $49.32.

Tetra Tech Company 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.