First Western Trust Bank Acquires 9,203 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

First Western Trust Bank lifted its holdings in Tetra Tech, Inc. (NASDAQ:TTEK) by 358.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 11,770 shares of the industrial products company’s stock after acquiring an additional 9,203 shares during the quarter. First Western Trust Bank’s holdings in Tetra Tech were worth $555,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Sarasin & Partners LLP grew its position in shares of Tetra Tech by 330.9% during the 3rd quarter. Sarasin & Partners LLP now owns 4,950,383 shares of the industrial products company’s stock worth $233,460,000 after purchasing an additional 3,801,435 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of 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 buying an additional 2,622,288 shares during the period. abrdn plc grew its position in 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 buying an additional 1,644,267 shares in the last quarter. Copeland Capital Management LLC increased its stake in Tetra Tech by 289.0% during 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 during the period. Finally, Vontobel Holding Ltd. raised its holdings in Tetra Tech by 409.4% in the 3rd quarter. Vontobel Holding Ltd. now owns 1,425,589 shares of the industrial products company’s stock valued at $67,231,000 after acquiring an additional 1,145,738 shares in the last quarter. 93.89% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Kimberly E. Ritrievi sold 6,500 shares of Tetra Tech stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $46.48, for a total value of $302,120.00. Following the completion of the sale, the director now owns 143,200 shares of the company’s stock, valued at approximately $6,655,936. This trade represents a 4.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Leslie L. Shoemaker sold 78,420 shares of Tetra Tech stock in a transaction dated 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 transaction, the executive vice president now owns 296,015 shares of the company’s stock, valued at $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. Insiders sold 121,750 shares of company stock valued at $5,633,239 over the last 90 days. Company insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

TTEK has been the topic of a number of recent analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $52.00 price target on shares of Tetra Tech in a research report on Friday. Robert W. Baird raised their target price on shares of Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a report on Thursday. KeyCorp cut 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. Finally, StockNews.com cut shares of Tetra Tech from a “buy” rating to a “hold” rating in a research note on Friday. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Tetra Tech currently has an average rating of “Moderate Buy” and a consensus price target of $49.32.

Tetra Tech Price Performance

TTEK stock opened at $41.27 on Monday. The company has a quick ratio of 1.21, a current ratio of 1.25 and a debt-to-equity ratio of 0.44. The firm has a market cap of $11.05 billion, a price-to-earnings ratio of 33.50 and a beta of 0.94. The company’s fifty day simple moving average is $47.60 and its 200 day simple moving average is $44.58. Tetra Tech, Inc. has a 12-month low of $30.92 and a 12-month high of $51.20.

Tetra Tech Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be given a dividend of $0.058 per share. The ex-dividend date is Wednesday, November 27th. This represents a $0.23 annualized dividend and a dividend yield of 0.56%. Tetra Tech’s payout ratio is 18.67%.

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.