Envestnet Asset Management Inc. Has $26.81 Million Stake in Tetra Tech, Inc. $TTEK

Envestnet Asset Management Inc. lowered its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 4.7% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 745,602 shares of the industrial products company’s stock after selling 37,101 shares during the period. Envestnet Asset Management Inc. owned approximately 0.28% of Tetra Tech worth $26,812,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TTEK. Chilton Capital Management LLC purchased a new position in shares of Tetra Tech in the 1st quarter worth approximately $25,000. Baillie Gifford & Co. bought a new position in shares of Tetra Tech in the first quarter worth $27,000. Central Pacific Bank Trust Division bought a new position in shares of Tetra Tech in the second quarter worth $32,000. SVB Wealth LLC bought a new position in shares of Tetra Tech in the first quarter worth $36,000. Finally, Geneos Wealth Management Inc. increased its stake in Tetra Tech by 136.1% in the first quarter. Geneos Wealth Management Inc. now owns 1,303 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 751 shares during the last quarter. Hedge funds and other institutional investors own 93.89% of the company’s stock.

Tetra Tech Trading Down 0.4%

Shares of TTEK stock opened at $31.86 on Tuesday. The firm has a market capitalization of $8.37 billion, a PE ratio of 39.83 and a beta of 0.94. The stock has a fifty day simple moving average of $34.48 and a two-hundred day simple moving average of $35.05. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.18 and a current ratio of 1.18. Tetra Tech, Inc. has a 52-week low of $27.27 and a 52-week high of $51.20.

Insider Buying and Selling at Tetra Tech

In other news, Director Gary Birkenbeuel sold 2,390 shares of the firm’s stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $36.00, for a total transaction of $86,040.00. Following the completion of the transaction, the director owned 37,725 shares in the company, valued at $1,358,100. This trade represents a 5.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.40% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TTEK. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tetra Tech in a research note on Wednesday, October 8th. National Bank Financial began coverage on shares of Tetra Tech in a report on Wednesday, October 8th. They issued an “outperform” rating and a $41.00 price objective on the stock. Northcoast Research reissued a “neutral” rating on shares of Tetra Tech in a research report on Wednesday, October 1st. Wall Street Zen upgraded shares of Tetra Tech from a “hold” rating to a “buy” rating in a report on Saturday, October 25th. Finally, KeyCorp boosted their target price on shares of Tetra Tech from $41.00 to $43.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Tetra Tech has an average rating of “Hold” and an average price target of $41.00.

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.