Advisors Asset Management Inc. Purchases 68,327 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

Advisors Asset Management Inc. lifted its position in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 431.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 84,174 shares of the industrial products company’s stock after purchasing an additional 68,327 shares during the period. Advisors Asset Management Inc.’s holdings in Tetra Tech were worth $3,970,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Banque Cantonale Vaudoise bought a new position in shares of Tetra Tech during the 2nd quarter worth approximately $28,000. EverSource Wealth Advisors LLC boosted its position in Tetra Tech by 561.3% in the second quarter. EverSource Wealth Advisors LLC now owns 205 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 174 shares during the last quarter. Family Firm Inc. bought a new position in Tetra Tech in the 2nd quarter valued at $51,000. Quarry LP purchased a new stake in shares of Tetra Tech during the 2nd quarter valued at $54,000. Finally, 1832 Asset Management L.P. raised its stake in shares of Tetra Tech by 125.8% during the 1st quarter. 1832 Asset Management L.P. now owns 271 shares of the industrial products company’s stock worth $50,000 after purchasing an additional 151 shares during the period. 93.89% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Steven M. Burdick sold 36,830 shares of the company’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $46.57, for a total value of $1,715,173.10. Following the transaction, the chief financial officer now owns 112,620 shares of the company’s stock, valued at approximately $5,244,713.40. This represents a 24.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kimberly E. Ritrievi sold 6,500 shares of Tetra Tech stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $46.48, for a total value of $302,120.00. Following the sale, the director now directly owns 143,200 shares of the company’s stock, valued at $6,655,936. This represents a 4.34 % decrease in their position. 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. Corporate insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on TTEK. Royal Bank of Canada restated an “outperform” rating and set a $52.00 price objective on shares of Tetra Tech in a report on Friday, November 15th. Robert W. Baird raised their price target on shares of 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 downgraded Tetra Tech from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Finally, KeyCorp lowered their target price on Tetra Tech from $56.00 to $49.00 and set an “overweight” rating on the stock in a research note on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $49.32.

Tetra Tech Stock Up 0.4 %

Tetra Tech stock opened at $40.96 on Friday. The firm has a 50 day simple moving average of $47.17 and a 200 day simple moving average of $44.62. The company has a current ratio of 1.25, a quick ratio of 1.21 and a debt-to-equity ratio of 0.44. Tetra Tech, Inc. has a 1-year low of $30.92 and a 1-year high of $51.20. The firm has a market capitalization of $10.96 billion, a price-to-earnings ratio of 33.25 and a beta of 0.94.

Tetra Tech Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be paid a dividend of $0.058 per share. The ex-dividend date is Wednesday, November 27th. This represents a $0.23 dividend on an annualized basis and a dividend yield of 0.57%. Tetra Tech’s payout ratio is 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.