Navellier & Associates Inc. Increases Position in Tetra Tech, Inc. (NASDAQ:TTEK)

Navellier & Associates Inc. lifted its position in Tetra Tech, Inc. (NASDAQ:TTEK) by 280.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,960 shares of the industrial products company’s stock after purchasing an additional 7,341 shares during the period. Navellier & Associates Inc.’s holdings in Tetra Tech were worth $470,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of TTEK. Sarasin & Partners LLP grew its stake in Tetra Tech by 330.9% during the third quarter. Sarasin & Partners LLP now owns 4,950,383 shares of the industrial products company’s stock valued at $233,460,000 after acquiring an additional 3,801,435 shares in the last quarter. Allspring Global Investments Holdings LLC grew 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 valued at $155,601,000 after acquiring an additional 2,622,288 shares in the last quarter. abrdn plc grew its stake 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 acquiring an additional 1,644,267 shares in the last quarter. Copeland Capital Management LLC grew its stake in Tetra Tech by 289.0% during the third 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 in the last quarter. Finally, Premier Fund Managers Ltd grew its stake in Tetra Tech by 400.0% during the third quarter. Premier Fund Managers Ltd now owns 1,500,000 shares of the industrial products company’s stock valued at $69,615,000 after acquiring an additional 1,200,000 shares in the last quarter. 93.89% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insider Transactions at Tetra Tech

In other news, EVP Leslie L. Shoemaker sold 78,420 shares of the firm’s stock in a transaction dated 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 completion of the sale, the executive vice president now owns 296,015 shares in the company, valued at approximately $13,649,251.65. This trade represents a 20.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kimberly E. Ritrievi sold 6,500 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $46.48, for a total transaction of $302,120.00. Following the completion of the sale, the director now owns 143,200 shares of the company’s stock, valued at $6,655,936. This trade represents a 4.34 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 121,750 shares of company stock worth $5,633,239. 0.61% of the stock is currently owned by insiders.

Tetra Tech Price Performance

TTEK stock opened at $40.79 on Friday. Tetra Tech, Inc. has a 52 week low of $30.92 and a 52 week high of $51.20. The company has a quick ratio of 1.21, a current ratio of 1.25 and a debt-to-equity ratio of 0.44. The company has a fifty day simple moving average of $47.27 and a two-hundred day simple moving average of $44.63. The firm has a market capitalization of $10.92 billion, a P/E ratio of 33.11 and a beta of 0.94.

Tetra Tech Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th will be issued a $0.058 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.23 annualized dividend and a dividend yield of 0.57%. Tetra Tech’s dividend payout ratio (DPR) is presently 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.