Freedom Investment Management Inc. Acquires 20,660 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

Freedom Investment Management Inc. grew its holdings in Tetra Tech, Inc. (NASDAQ:TTEK) by 530.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 24,556 shares of the industrial products company’s stock after acquiring an additional 20,660 shares during the period. Freedom Investment Management Inc.’s holdings in Tetra Tech were worth $1,158,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Sarasin & Partners LLP raised its position in Tetra Tech by 330.9% in the third 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 in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Tetra Tech by 387.3% in the 3rd 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 purchasing an additional 2,622,288 shares during the period. abrdn plc raised its holdings in shares of Tetra Tech by 353.0% in the 3rd quarter. abrdn plc now owns 2,110,076 shares of the industrial products company’s stock worth $98,477,000 after buying an additional 1,644,267 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position 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 buying an additional 1,618,211 shares during the period. Finally, Copeland Capital Management LLC boosted its stake in Tetra Tech by 289.0% in 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 buying an additional 1,355,351 shares in the last quarter. 93.89% of the stock is owned by institutional investors.

Tetra Tech Stock Performance

Shares of NASDAQ:TTEK opened at $41.47 on Thursday. The business has a fifty day moving average of $46.86 and a 200-day moving average of $44.61. The firm has a market cap of $11.10 billion, a PE ratio of 33.66 and a beta of 0.94. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.25 and a current ratio of 1.25. Tetra Tech, Inc. has a twelve month low of $30.92 and a twelve month high of $51.20.

Tetra Tech Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be issued a $0.058 dividend. This represents a $0.23 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date of this dividend is Wednesday, November 27th. Tetra Tech’s dividend payout ratio is currently 18.67%.

Insiders Place Their Bets

In other news, EVP Leslie L. Shoemaker sold 78,420 shares of Tetra Tech stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $46.11, for a total transaction 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 $13,649,251.65. The trade was a 20.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kimberly E. Ritrievi sold 6,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $46.48, for a total transaction 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. This trade represents a 4.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 121,750 shares of company stock valued at $5,633,239. 0.61% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TTEK. Robert W. Baird increased their price objective on Tetra Tech from $46.00 to $47.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. StockNews.com lowered shares of Tetra Tech from a “buy” rating to a “hold” rating in a report on Friday, November 15th. KeyCorp cut their price target 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, Royal Bank of Canada reaffirmed an “outperform” rating and set a $52.00 price objective on shares of Tetra Tech in a research note on Friday, November 15th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Tetra Tech currently has a consensus rating of “Moderate Buy” and an average price target of $49.32.

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.