Tetra Tech (NASDAQ:TTEK) Sees Unusually-High Trading Volume – What’s Next?

Tetra Tech, Inc. (NASDAQ:TTEK) shares saw unusually-strong trading volume on Friday . Approximately 3,662,913 shares changed hands during mid-day trading, an increase of 121% from the previous session’s volume of 1,653,698 shares.The stock last traded at $38.24 and had previously closed at $39.38.

Analyst Ratings Changes

A number of brokerages recently issued reports on TTEK. Robert W. Baird increased their price target 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. StockNews.com lowered shares of Tetra Tech from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. KeyCorp cut their price target on Tetra Tech from $56.00 to $49.00 and set an “overweight” rating for the company in a research note on Friday, November 15th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $52.00 price target on shares of Tetra Tech in a report on Friday, November 15th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $49.32.

Tetra Tech Stock Performance

The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.44. The stock has a market cap of $10.28 billion, a price-to-earnings ratio of 31.14 and a beta of 0.90. The firm’s 50-day moving average is $41.06 and its two-hundred day moving average is $44.30.

Tetra Tech Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th were given a $0.058 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $0.23 annualized dividend and a dividend yield of 0.60%. Tetra Tech’s dividend payout ratio (DPR) is presently 18.67%.

Institutional Trading of Tetra Tech

Several large investors have recently made changes to their positions in the company. Sarasin & Partners LLP boosted its stake in 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 during the last quarter. Geode Capital Management LLC lifted its stake in shares of Tetra Tech by 406.6% in the third quarter. Geode Capital Management LLC now owns 4,716,080 shares of the industrial products company’s stock worth $222,466,000 after buying an additional 3,785,189 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position 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 grew its stake in Tetra Tech by 353.0% during the 3rd quarter. abrdn plc now owns 2,110,076 shares of the industrial products company’s stock valued at $98,477,000 after acquiring an additional 1,644,267 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in 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 acquiring an additional 1,618,211 shares during the last quarter. 93.89% of the stock is currently owned by hedge funds and other institutional investors.

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.