Wellington Management Group LLP Purchases 846,284 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

Wellington Management Group LLP lifted its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 365.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,077,828 shares of the industrial products company's stock after purchasing an additional 846,284 shares during the period. Wellington Management Group LLP owned approximately 0.40% of Tetra Tech worth $50,830,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on TTEK. Royal Bank of Canada reissued an "outperform" rating and set a $52.00 price objective on shares of Tetra Tech in a research note on Friday, November 15th. KeyCorp decreased their price target on shares of Tetra Tech from $56.00 to $49.00 and set an "overweight" rating for the company in a report on Friday, November 15th. Robert W. Baird raised their price objective on Tetra Tech from $46.00 to $47.00 and gave the stock a "neutral" rating in a research note on Thursday, November 14th. Finally, StockNews.com cut Tetra Tech from a "buy" rating to a "hold" rating in a research note on Friday, November 15th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Tetra Tech has a consensus rating of "Moderate Buy" and an average target price of $49.32.

Tetra Tech Stock Down 0.7 %

NASDAQ:TTEK traded down $0.31 on Thursday, hitting $41.93. 727,820 shares of the company's stock were exchanged, compared to its average volume of 1,520,556. The firm has a 50-day moving average price of $45.86 and a 200-day moving average price of $44.53. Tetra Tech, Inc. has a 52 week low of $31.61 and a 52 week high of $51.20. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.25 and a quick ratio of 1.25. The company has a market cap of $11.23 billion, a P/E ratio of 33.92 and a beta of 0.88.

Tetra Tech Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be issued a dividend of $0.058 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.23 annualized dividend and a yield of 0.55%. Tetra Tech's payout ratio is presently 18.70%.

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.