Ninety One UK Ltd Sells 747,987 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

Ninety One UK Ltd lessened its position in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 24.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,365,210 shares of the industrial products company’s stock after selling 747,987 shares during the period. Ninety One UK Ltd’s holdings in Tetra Tech were worth $94,230,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in TTEK. Ninety One North America Inc. boosted its position in shares of Tetra Tech by 2.6% in the fourth quarter. Ninety One North America Inc. now owns 272,713 shares of the industrial products company’s stock valued at $10,865,000 after acquiring an additional 6,968 shares during the period. abrdn plc boosted its holdings in Tetra Tech by 7.6% in the 4th quarter. abrdn plc now owns 2,269,777 shares of the industrial products company’s stock valued at $90,031,000 after purchasing an additional 159,701 shares during the period. Trust Point Inc. bought a new stake in Tetra Tech in the 4th quarter valued at about $599,000. Jennison Associates LLC bought a new position in shares of Tetra Tech during the fourth quarter worth approximately $22,653,000. Finally, Greenleaf Trust raised its position in shares of Tetra Tech by 14.5% in the fourth quarter. Greenleaf Trust now owns 5,276 shares of the industrial products company’s stock valued at $210,000 after buying an additional 669 shares in the last quarter. Institutional investors own 93.89% of the company’s stock.

Tetra Tech Stock Performance

Tetra Tech stock opened at $34.54 on Wednesday. The stock has a market cap of $9.26 billion, a PE ratio of 36.28 and a beta of 0.89. The company has a quick ratio of 1.25, a current ratio of 1.29 and a debt-to-equity ratio of 0.53. Tetra Tech, Inc. has a 12-month low of $31.09 and a 12-month high of $51.20. The business’s 50-day moving average price is $40.46 and its two-hundred day moving average price is $44.11.

Tetra Tech (NASDAQ:TTEK) last released its quarterly earnings data 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 net margin of 4.81% and a return on equity of 22.58%. As a group, analysts expect that Tetra Tech, Inc. will post 1.37 earnings per share for the current fiscal year.

Tetra Tech Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th will be issued a dividend of $0.058 per share. This represents a $0.23 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend is Wednesday, February 12th. Tetra Tech’s dividend payout ratio (DPR) is 24.16%.

Analyst Upgrades and Downgrades

TTEK has been the topic of a number of analyst reports. Robert W. Baird increased their price target on Tetra Tech from $46.00 to $47.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. KeyCorp decreased their price target on Tetra Tech from $49.00 to $45.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. StockNews.com cut shares of Tetra Tech from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $52.00 target price on shares of Tetra Tech in a report on Friday, November 15th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $48.52.

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.