Ninety One North America Inc. Has $10.87 Million Stake in Tetra Tech, Inc. (NASDAQ:TTEK)

Ninety One North America Inc. raised its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 2.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 272,713 shares of the industrial products company’s stock after buying an additional 6,968 shares during the period. Ninety One North America Inc. owned about 0.10% of Tetra Tech worth $10,865,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Sarasin & Partners LLP lifted its stake in shares of Tetra Tech by 330.9% in the 3rd quarter. Sarasin & Partners LLP now owns 4,950,383 shares of the industrial products company’s stock valued at $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 3rd quarter. Geode Capital Management LLC now owns 4,716,080 shares of the industrial products company’s stock valued at $222,466,000 after purchasing an additional 3,785,189 shares during the last quarter. Allspring Global Investments Holdings LLC lifted 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 last quarter. abrdn plc lifted its stake 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 valued at $98,477,000 after purchasing an additional 1,644,267 shares during 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 worth $97,644,000 after acquiring an additional 1,618,211 shares during the period. Institutional investors and hedge funds own 93.89% of the company’s stock.

Analyst Ratings Changes

TTEK has been the topic of several recent research reports. Robert W. Baird lifted their target price on shares of Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. KeyCorp reduced their target price on shares of Tetra Tech from $49.00 to $45.00 and set an “overweight” rating on the stock in a research report on Friday. StockNews.com downgraded shares of Tetra Tech from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $52.00 target price 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 assigned a buy rating to the stock. According to data from MarketBeat, Tetra Tech has an average rating of “Moderate Buy” and an average price target of $48.52.

Tetra Tech Stock Performance

Shares of TTEK stock opened at $34.01 on Tuesday. The stock has a market cap of $9.12 billion, a P/E ratio of 35.75 and a beta of 0.89. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.29 and a quick ratio of 1.25. The company has a fifty day moving average price of $40.61 and a two-hundred day moving average price of $44.16. Tetra Tech, Inc. has a one year low of $31.09 and a one year high of $51.20.

Tetra Tech (NASDAQ:TTEK) last announced its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. Tetra Tech had a net margin of 4.81% and a return on equity of 22.58%. As a group, equities analysts predict that Tetra Tech, Inc. will post 1.37 EPS for the current year.

Tetra Tech Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th will be given a $0.058 dividend. This represents a $0.23 annualized dividend and a dividend yield of 0.68%. The ex-dividend date is Wednesday, February 12th. Tetra Tech’s payout ratio is presently 24.16%.

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.