Vontobel Holding Ltd. Cuts Stock Holdings in Tetra Tech, Inc. (NASDAQ:TTEK)

Vontobel Holding Ltd. cut its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 97.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 35,539 shares of the industrial products company's stock after selling 1,390,050 shares during the quarter. Vontobel Holding Ltd.'s holdings in Tetra Tech were worth $1,416,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in TTEK. Geode Capital Management LLC increased its position in shares of Tetra Tech by 406.6% during the third quarter. Geode Capital Management LLC now owns 4,716,080 shares of the industrial products company's stock worth $222,466,000 after buying an additional 3,785,189 shares during the period. abrdn plc boosted its position in Tetra Tech by 7.6% during the fourth quarter. abrdn plc now owns 2,269,777 shares of the industrial products company's stock valued at $90,031,000 after acquiring an additional 159,701 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Tetra Tech by 357.8% during the 3rd 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 period. Copeland Capital Management LLC raised its position in shares of Tetra Tech by 289.0% in the 3rd quarter. Copeland Capital Management LLC now owns 1,824,250 shares of the industrial products company's stock worth $86,032,000 after acquiring an additional 1,355,351 shares in the last quarter. Finally, Premier Fund Managers Ltd lifted its stake in shares of Tetra Tech by 400.0% in the 3rd quarter. Premier Fund Managers Ltd now owns 1,500,000 shares of the industrial products company's stock valued at $69,615,000 after purchasing an additional 1,200,000 shares during the period. Institutional investors own 93.89% of the company's stock.

Insiders Place Their Bets

In related news, Director Kirsten M. Volpi sold 10,116 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $34.33, for a total transaction 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on TTEK. Robert W. Baird increased their price target on Tetra Tech from $46.00 to $47.00 and gave the stock a "neutral" rating in a report on Thursday, November 14th. 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. Maxim Group lowered shares of Tetra Tech from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. StockNews.com downgraded shares of Tetra Tech from a "buy" rating to a "hold" rating in a research report on Friday, November 15th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $52.00 price target on shares of Tetra Tech in a research report on Friday, November 15th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Tetra Tech has a consensus rating of "Moderate Buy" and a consensus price target of $48.52.

Tetra Tech Stock Down 0.1 %

Shares of NASDAQ TTEK traded down $0.03 during trading on Friday, hitting $29.93. The stock had a trading volume of 3,064,435 shares, compared to its average volume of 3,402,266. Tetra Tech, Inc. has a 12 month low of $29.23 and a 12 month high of $51.20. The company has a market capitalization of $8.02 billion, a PE ratio of 31.44 and a beta of 0.89. The firm has a fifty day moving average of $37.73 and a two-hundred day moving average of $43.15. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.29 and a quick ratio of 1.29.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last released its 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%. As a group, equities research analysts forecast that Tetra Tech, Inc. will post 1.37 EPS for the current fiscal year.

Tetra Tech Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th will be given a dividend of $0.058 per share. This represents a $0.23 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date is Wednesday, February 12th. Tetra Tech's dividend payout ratio is currently 24.16%.

Tetra Tech 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.