Rockefeller Capital Management L.P. Purchases 893,827 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

Rockefeller Capital Management L.P. raised its position in Tetra Tech, Inc. (NASDAQ:TTEK) by 365.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,138,716 shares of the industrial products company’s stock after acquiring an additional 893,827 shares during the quarter. Rockefeller Capital Management L.P. owned approximately 0.43% of Tetra Tech worth $53,739,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of TTEK. Sarasin & Partners LLP lifted its stake 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 purchasing an additional 3,801,435 shares during the period. Allspring Global Investments Holdings LLC raised its position in 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 worth $155,601,000 after acquiring an additional 2,622,288 shares during the period. abrdn plc raised its position in Tetra Tech by 353.0% in the third quarter. abrdn plc now owns 2,110,076 shares of the industrial products company’s stock worth $98,477,000 after acquiring an additional 1,644,267 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Tetra Tech by 357.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,070,483 shares of the industrial products company’s stock worth $97,644,000 after acquiring an additional 1,618,211 shares during the last quarter. Finally, Copeland Capital Management LLC grew its position in shares of 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 valued at $86,032,000 after acquiring an additional 1,355,351 shares during the period. 93.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on TTEK. StockNews.com lowered Tetra Tech from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $52.00 price objective on shares of Tetra Tech in a research report on Friday, November 15th. KeyCorp reduced their target price on shares of Tetra Tech from $56.00 to $49.00 and set an “overweight” rating for the company in a report on Friday, November 15th. Finally, Robert W. Baird lifted 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. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $49.32.

Insider Activity

In other news, Director Kimberly E. Ritrievi sold 6,500 shares of Tetra Tech stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $46.48, for a total value of $302,120.00. Following the sale, the director now directly owns 143,200 shares of the company’s stock, valued at approximately $6,655,936. The trade was a 4.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Leslie L. Shoemaker sold 78,420 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $46.11, for a total value of $3,615,946.20. Following the transaction, the executive vice president now directly owns 296,015 shares of the company’s stock, valued at approximately $13,649,251.65. The trade was a 20.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 121,750 shares of company stock worth $5,633,239 over the last quarter. Insiders own 0.61% of the company’s stock.

Tetra Tech Stock Performance

NASDAQ:TTEK opened at $41.51 on Friday. 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 stock has a 50-day moving average price of $46.58 and a 200 day moving average price of $44.58. The stock has a market capitalization of $11.11 billion, a P/E ratio of 33.69 and a beta of 0.94.

Tetra Tech Dividend Announcement

The business also recently disclosed 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. 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 currently 18.67%.

About Tetra Tech

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.