Tetra Tech, Inc. (NASDAQ:TTEK) is Managed Asset Portfolios LLC’s 4th Largest Position

Managed Asset Portfolios LLC boosted its holdings in Tetra Tech, Inc. (NASDAQ:TTEK) by 255.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 627,506 shares of the industrial products company’s stock after buying an additional 451,099 shares during the period. Tetra Tech makes up about 4.2% of Managed Asset Portfolios LLC’s investment portfolio, making the stock its 4th largest position. Managed Asset Portfolios LLC owned 0.23% of Tetra Tech worth $29,593,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Banque Cantonale Vaudoise acquired a new stake in shares of Tetra Tech in the second quarter valued at about $28,000. EverSource Wealth Advisors LLC grew its holdings in Tetra Tech by 561.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 205 shares of the industrial products company’s stock valued at $44,000 after purchasing an additional 174 shares in the last quarter. Family Firm Inc. purchased a new stake in Tetra Tech during the 2nd quarter worth $51,000. Quarry LP purchased a new position in Tetra Tech in the 2nd quarter valued at about $54,000. Finally, 1832 Asset Management L.P. grew its stake in shares of Tetra Tech by 125.8% during the first quarter. 1832 Asset Management L.P. now owns 271 shares of the industrial products company’s stock valued at $50,000 after acquiring an additional 151 shares in the last quarter. 93.89% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Tetra Tech

In related news, Director Kimberly E. Ritrievi sold 6,500 shares of the stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $46.48, for a total transaction of $302,120.00. Following the sale, the director now owns 143,200 shares in the company, valued at $6,655,936. This represents a 4.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Steven M. Burdick sold 36,830 shares of Tetra Tech stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $46.57, for a total value of $1,715,173.10. Following the completion of the transaction, the chief financial officer now owns 112,620 shares of the company’s stock, valued at approximately $5,244,713.40. The trade was a 24.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 121,750 shares of company stock worth $5,633,239. 0.61% of the stock is currently owned by insiders.

Tetra Tech Stock Performance

TTEK stock opened at $40.96 on Friday. The stock’s 50 day simple moving average is $47.06 and its 200 day simple moving average is $44.62. Tetra Tech, Inc. has a 12-month low of $30.92 and a 12-month high of $51.20. The firm has a market cap of $10.97 billion, a P/E ratio of 33.25 and a beta of 0.94. The company has a current ratio of 1.25, a quick ratio of 1.21 and a debt-to-equity ratio of 0.44.

Tetra Tech Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders 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 dividend on an annualized basis and a dividend yield of 0.57%. Tetra Tech’s dividend payout ratio (DPR) is 18.67%.

Analysts Set New Price Targets

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

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.