Tetra Tech, Inc. (NASDAQ:TTEK) Shares Purchased by Van ECK Associates Corp

Van ECK Associates Corp boosted its holdings in Tetra Tech, Inc. (NASDAQ:TTEK) by 10.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 31,275 shares of the industrial products company’s stock after purchasing an additional 2,851 shares during the quarter. Van ECK Associates Corp’s holdings in Tetra Tech were worth $5,220,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of TTEK. Sarasin & Partners LLP increased its holdings in shares of Tetra Tech by 18.3% in the 4th quarter. Sarasin & Partners LLP now owns 1,221,928 shares of the industrial products company’s stock valued at $203,976,000 after acquiring an additional 189,049 shares during the last quarter. Invesco Ltd. increased its stake in Tetra Tech by 6.2% in the third quarter. Invesco Ltd. now owns 879,638 shares of the industrial products company’s stock valued at $133,731,000 after purchasing an additional 51,139 shares during the last quarter. Vontobel Holding Ltd. raised its holdings in Tetra Tech by 2.8% during the fourth quarter. Vontobel Holding Ltd. now owns 533,587 shares of the industrial products company’s stock worth $89,072,000 after purchasing an additional 14,334 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc purchased a new stake in shares of Tetra Tech during the 4th quarter worth approximately $82,209,000. Finally, abrdn plc boosted its holdings in shares of Tetra Tech by 1.3% in the 4th quarter. abrdn plc now owns 475,320 shares of the industrial products company’s stock valued at $79,345,000 after buying an additional 5,962 shares in the last quarter. 93.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on TTEK. KeyCorp lifted their price target on shares of Tetra Tech from $209.00 to $219.00 and gave the stock an “overweight” rating in a research note on Friday. Northcoast Research raised Tetra Tech from a “neutral” rating to a “buy” rating and set a $225.00 target price for the company in a report on Thursday. Robert W. Baird upped their target price on Tetra Tech from $180.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday. Royal Bank of Canada lifted their price target on Tetra Tech from $203.00 to $233.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Maxim Group increased their price objective on Tetra Tech from $220.00 to $230.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $221.40.

Insider Activity

In related news, CFO Steven M. Burdick sold 7,128 shares of the stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $165.01, for a total transaction of $1,176,191.28. Following the completion of the transaction, the chief financial officer now directly owns 37,405 shares of the company’s stock, valued at $6,172,199.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Steven M. Burdick sold 7,128 shares of Tetra Tech stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $165.01, for a total value of $1,176,191.28. Following the sale, the chief financial officer now directly owns 37,405 shares in the company, valued at $6,172,199.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director J Kenneth Thompson sold 3,500 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $177.24, for a total value of $620,340.00. Following the completion of the transaction, the director now owns 10,985 shares of the company’s stock, valued at approximately $1,946,981.40. The disclosure for this sale can be found here. Insiders have sold a total of 32,123 shares of company stock valued at $5,487,673 over the last quarter. Corporate insiders own 0.61% of the company’s stock.

Tetra Tech Stock Performance

Shares of TTEK stock opened at $207.75 on Friday. The stock’s 50-day moving average price is $186.65 and its 200 day moving average price is $171.67. The company has a quick ratio of 1.25, a current ratio of 1.24 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $11.11 billion, a PE ratio of 42.05 and a beta of 0.93. Tetra Tech, Inc. has a 52-week low of $132.29 and a 52-week high of $208.76.

Tetra Tech (NASDAQ:TTEK) last released its earnings results on Wednesday, May 1st. The industrial products company reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.13. Tetra Tech had a return on equity of 21.16% and a net margin of 5.36%. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the previous year, the company posted $1.17 earnings per share. The company’s revenue for the quarter was down 9.5% compared to the same quarter last year. As a group, equities research analysts forecast that Tetra Tech, Inc. will post 6.2 EPS for the current year.

Tetra Tech Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Monday, May 20th will be given a dividend of $0.29 per share. The ex-dividend date is Friday, May 17th. This represents a $1.16 dividend on an annualized basis and a yield of 0.56%. This is an increase from Tetra Tech’s previous quarterly dividend of $0.26. Tetra Tech’s dividend payout ratio is presently 21.05%.

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.