Tetra Tech (NASDAQ:TTEK) Price Target Lowered to $49.00 at KeyCorp

Tetra Tech (NASDAQ:TTEK) had its target price trimmed by KeyCorp from $56.00 to $49.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an overweight rating on the industrial products company’s stock.

A number of other analysts have also recently weighed in on TTEK. Royal Bank of Canada boosted their price target on Tetra Tech from $46.60 to $51.80 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Robert W. Baird boosted their price objective on Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, StockNews.com raised shares of Tetra Tech from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $49.32.

Tetra Tech Stock Up 0.8 %

Shares of NASDAQ:TTEK traded up $0.31 during midday trading on Friday, reaching $41.27. The company had a trading volume of 4,176,228 shares, compared to its average volume of 2,323,584. The stock’s fifty day moving average price is $47.60 and its 200-day moving average price is $44.58. Tetra Tech has a one year low of $30.92 and a one year high of $51.20. The stock has a market capitalization of $11.05 billion, a P/E ratio of 33.50 and a beta of 0.94. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.25 and a quick ratio of 1.21.

Tetra Tech Announces Dividend

The company also recently disclosed 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. This represents a $0.23 annualized dividend and a yield of 0.56%. The ex-dividend date is Wednesday, November 27th. Tetra Tech’s dividend payout ratio (DPR) is 18.67%.

Insider Activity at Tetra Tech

In other Tetra Tech news, EVP Leslie L. Shoemaker sold 78,420 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $46.11, for a total transaction of $3,615,946.20. Following the completion of 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 sale 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 the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $46.57, for a total transaction of $1,715,173.10. Following the completion of the sale, the chief financial officer now directly owns 112,620 shares of the company’s stock, valued at $5,244,713.40. This represents a 24.64 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 121,750 shares of company stock worth $5,633,239. 0.61% of the stock is owned by company insiders.

Institutional Trading of Tetra Tech

A number of large investors have recently made changes to their positions in TTEK. Allworth Financial LP lifted its holdings in shares of Tetra Tech by 629.3% during the third quarter. Allworth Financial LP now owns 547 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 472 shares during the period. LGT Financial Advisors LLC lifted its holdings in shares of Tetra Tech by 400.0% during the 3rd quarter. LGT Financial Advisors LLC now owns 555 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 444 shares in the last quarter. Banque Cantonale Vaudoise acquired a new position in shares of Tetra Tech in the second quarter worth about $28,000. Venturi Wealth Management LLC grew its stake in Tetra Tech by 3,261.1% in the third quarter. Venturi Wealth Management LLC now owns 605 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 587 shares in the last quarter. Finally, Canton Hathaway LLC raised its position in shares of Tetra Tech by 400.0% during the 3rd quarter. Canton Hathaway LLC now owns 645 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 516 shares during the period. 93.89% of the stock is currently owned by hedge funds and other institutional investors.

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.