D.A. Davidson & CO. Boosts Stock Position in Tetra Tech, Inc. (NASDAQ:TTEK)

D.A. Davidson & CO. increased its holdings in Tetra Tech, Inc. (NASDAQ:TTEK) by 402.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 40,493 shares of the industrial products company’s stock after buying an additional 32,438 shares during the period. D.A. Davidson & CO.’s holdings in Tetra Tech were worth $1,910,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Sarasin & Partners LLP increased its holdings in shares of Tetra Tech by 330.9% in the 3rd quarter. Sarasin & Partners LLP now owns 4,950,383 shares of the industrial products company’s stock worth $233,460,000 after buying an additional 3,801,435 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in Tetra Tech by 387.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,299,418 shares of the industrial products company’s stock worth $155,601,000 after acquiring an additional 2,622,288 shares during the last quarter. abrdn plc raised 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 valued at $98,477,000 after purchasing an additional 1,644,267 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Tetra Tech by 357.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,070,483 shares of the industrial products company’s stock valued at $97,644,000 after purchasing an additional 1,618,211 shares during the last quarter. Finally, Copeland Capital Management LLC boosted its holdings in shares of Tetra Tech by 289.0% in 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 purchasing an additional 1,355,351 shares during the period. Hedge funds and other institutional investors own 93.89% of the company’s stock.

Insider Buying and Selling at Tetra Tech

In other news, Director Kimberly E. Ritrievi sold 6,500 shares of Tetra Tech stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $46.48, for a total value of $302,120.00. Following the transaction, the director now directly owns 143,200 shares in the company, valued at approximately $6,655,936. This trade represents a 4.34 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Steven M. Burdick sold 36,830 shares of the company’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $46.57, for a total value of $1,715,173.10. Following the sale, the chief financial officer now owns 112,620 shares of the company’s stock, valued at $5,244,713.40. This trade represents a 24.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 121,750 shares of company stock valued at $5,633,239. Company insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Royal Bank of Canada restated an “outperform” rating and set a $52.00 price target on shares of Tetra Tech in a report on Friday, November 15th. Robert W. Baird upped their price target on shares of Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. StockNews.com downgraded shares of Tetra Tech from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Finally, KeyCorp lowered their target price on shares of Tetra Tech from $56.00 to $49.00 and set an “overweight” rating for the company 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 company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $49.32.

Tetra Tech Price Performance

TTEK opened at $41.51 on Friday. The company has a market capitalization of $11.11 billion, a price-to-earnings ratio of 33.69 and a beta of 0.94. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.44. Tetra Tech, Inc. has a 12-month low of $30.92 and a 12-month high of $51.20. The business’s fifty day simple moving average is $46.58 and its 200-day simple moving average is $44.58.

Tetra Tech Dividend Announcement

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 given a dividend of $0.058 per share. This represents a $0.23 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date is Wednesday, November 27th. Tetra Tech’s dividend payout ratio (DPR) 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.