Alliancebernstein L.P. Has $312.78 Million Holdings in Tetra Tech, Inc. (NASDAQ:TTEK)

Alliancebernstein L.P. trimmed its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 30.7% in the fourth quarter, HoldingsChannel reports. The firm owned 7,850,987 shares of the industrial products company’s stock after selling 3,485,428 shares during the period. Alliancebernstein L.P.’s holdings in Tetra Tech were worth $312,783,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Tetra Tech in the fourth quarter valued at $63,000. Wellington Management Group LLP increased its position in Tetra Tech by 10.8% in the 4th quarter. Wellington Management Group LLP now owns 1,193,963 shares of the industrial products company’s stock valued at $47,567,000 after acquiring an additional 116,135 shares in the last quarter. CIBC Private Wealth Group LLC raised its stake in shares of Tetra Tech by 49.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 2,939 shares of the industrial products company’s stock worth $117,000 after acquiring an additional 979 shares during the last quarter. Schroder Investment Management Group lifted its position in shares of Tetra Tech by 3.7% during the fourth quarter. Schroder Investment Management Group now owns 867,592 shares of the industrial products company’s stock worth $34,565,000 after purchasing an additional 30,975 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Tetra Tech by 11.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 342,637 shares of the industrial products company’s stock valued at $13,651,000 after purchasing an additional 34,375 shares during the last quarter. Institutional investors own 93.89% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on TTEK. KeyCorp reduced their price objective on Tetra Tech from $49.00 to $45.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Maxim Group lowered Tetra Tech from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Finally, Royal Bank of Canada set a $49.00 price objective on Tetra Tech in a research report on Friday, January 31st. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Tetra Tech currently has an average rating of “Moderate Buy” and a consensus target price of $47.92.

Tetra Tech Stock Performance

TTEK stock opened at $29.25 on Tuesday. Tetra Tech, Inc. has a twelve month low of $28.17 and a twelve month high of $51.20. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.53. The company has a market cap of $7.84 billion, a P/E ratio of 30.72 and a beta of 0.93. The business’s fifty day moving average is $31.87 and its 200-day moving average is $40.00.

Tetra Tech (NASDAQ:TTEK) last issued its earnings results on Wednesday, January 29th. The industrial products company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. Tetra Tech had a return on equity of 22.58% and a net margin of 4.81%. Equities research analysts forecast that Tetra Tech, Inc. will post 1.37 EPS for the current year.

Tetra Tech Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were issued a $0.058 dividend. The ex-dividend date was Wednesday, February 12th. This represents a $0.23 annualized dividend and a yield of 0.79%. Tetra Tech’s dividend payout ratio (DPR) is presently 24.21%.

Insider Transactions at Tetra Tech

In related news, Director Kirsten M. Volpi sold 10,116 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $34.33, for a total transaction of $347,282.28. Following the sale, the director now owns 60,196 shares of the company’s stock, valued at approximately $2,066,528.68. This trade represents a 14.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.40% of the company’s stock.

Tetra Tech 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.