Thematics Asset Management Buys 216,000 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

Thematics Asset Management boosted its position in Tetra Tech, Inc. (NASDAQ:TTEK) by 374.0% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 273,750 shares of the industrial products company’s stock after purchasing an additional 216,000 shares during the period. Thematics Asset Management owned about 0.10% of Tetra Tech worth $12,910,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Allworth Financial LP boosted its holdings in shares of Tetra Tech by 629.3% in the 3rd quarter. Allworth Financial LP now owns 547 shares of the industrial products company’s stock worth $26,000 after buying an additional 472 shares during the last quarter. LGT Financial Advisors LLC boosted its stake in Tetra Tech by 400.0% in the third quarter. LGT Financial Advisors LLC now owns 555 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 444 shares during the last quarter. Banque Cantonale Vaudoise purchased a new stake in shares of Tetra Tech during the 2nd quarter worth approximately $28,000. Venturi Wealth Management LLC raised its holdings in shares of Tetra Tech by 3,261.1% in the 3rd quarter. Venturi Wealth Management LLC now owns 605 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 587 shares during the period. Finally, Canton Hathaway LLC lifted its stake in Tetra Tech by 400.0% in the third quarter. Canton Hathaway LLC now owns 645 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 516 shares during the last quarter. Hedge funds and other institutional investors own 93.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. KeyCorp dropped their price target on Tetra Tech from $56.00 to $49.00 and set an “overweight” rating on the stock in a research report on Friday, November 15th. StockNews.com downgraded shares of Tetra Tech from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Robert W. Baird increased their target price on Tetra Tech from $46.00 to $47.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $52.00 price target on shares of Tetra Tech in a research report on Friday, November 15th. Two 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, Tetra Tech has an average rating of “Moderate Buy” and an average price target of $49.32.

Insider Buying and Selling

In related news, 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 transaction, the director now owns 143,200 shares in the company, valued at $6,655,936. This trade represents a 4.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Leslie L. Shoemaker sold 78,420 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now owns 296,015 shares of the company’s stock, valued at approximately $13,649,251.65. The trade was a 20.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 121,750 shares of company stock worth $5,633,239. Corporate insiders own 0.61% of the company’s stock.

Tetra Tech Price Performance

Shares of NASDAQ TTEK traded up $0.62 during midday trading on Tuesday, hitting $41.84. 372,987 shares of the company’s stock were exchanged, compared to its average volume of 1,498,148. The business’s fifty day moving average price is $47.06 and its two-hundred day moving average price is $44.62. The company has a market cap of $11.20 billion, a price-to-earnings ratio of 33.46 and a beta of 0.94. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.44. Tetra Tech, Inc. has a 12-month low of $30.92 and a 12-month high of $51.20.

Tetra Tech Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th will be issued a dividend of $0.058 per share. This represents a $0.23 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date is Wednesday, November 27th. Tetra Tech’s dividend payout ratio is currently 18.67%.

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.