New York State Common Retirement Fund Increases Stake in Tetra Tech, Inc. (NASDAQ:TTEK)

New York State Common Retirement Fund raised its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 5.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 647,808 shares of the industrial products company’s stock after buying an additional 32,713 shares during the quarter. New York State Common Retirement Fund’s holdings in Tetra Tech were worth $25,809,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Allworth Financial LP grew its holdings in Tetra Tech by 629.3% during the 3rd quarter. Allworth Financial LP now owns 547 shares of the industrial products company’s stock valued at $26,000 after buying an additional 472 shares in the last quarter. LGT Financial Advisors LLC grew its holdings in Tetra Tech by 400.0% during the 3rd quarter. LGT Financial Advisors LLC now owns 555 shares of the industrial products company’s stock valued at $26,000 after buying an additional 444 shares in the last quarter. Venturi Wealth Management LLC grew its holdings in Tetra Tech by 3,261.1% during the 3rd quarter. Venturi Wealth Management LLC now owns 605 shares of the industrial products company’s stock valued at $29,000 after buying an additional 587 shares in the last quarter. Canton Hathaway LLC boosted its position in shares of Tetra Tech by 400.0% during the 3rd quarter. Canton Hathaway LLC now owns 645 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 516 shares during the last quarter. Finally, Banque Cantonale Vaudoise boosted its position in shares of Tetra Tech by 400.0% during the 3rd quarter. Banque Cantonale Vaudoise now owns 695 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 556 shares during the last quarter. 93.89% of the stock is owned by hedge funds and other institutional investors.

Tetra Tech Stock Down 0.1 %

Shares of TTEK opened at $29.93 on Friday. The company has a market cap of $8.02 billion, a PE ratio of 31.44 and a beta of 0.89. The business has a fifty day moving average of $37.73 and a 200 day moving average of $43.15. Tetra Tech, Inc. has a 52-week low of $29.23 and a 52-week high of $51.20. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.53.

Tetra Tech (NASDAQ:TTEK) last issued its quarterly earnings results 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 return on equity of 22.58% and a net margin of 4.81%. On average, sell-side analysts expect that Tetra Tech, Inc. will post 1.37 EPS for the current year.

Tetra Tech Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th will be paid a $0.058 dividend. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $0.23 dividend on an annualized basis and a yield of 0.78%. Tetra Tech’s payout ratio is 24.16%.

Insiders Place Their Bets

In other Tetra Tech news, Director Kirsten M. Volpi sold 10,116 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $34.33, for a total value of $347,282.28. Following the sale, the director now owns 60,196 shares in the company, valued at $2,066,528.68. This trade represents a 14.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on TTEK. StockNews.com downgraded Tetra Tech from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. KeyCorp lowered their target price on Tetra Tech from $49.00 to $45.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Royal Bank of Canada reiterated an “outperform” rating and set a $52.00 target price on shares of Tetra Tech in a research report on Friday, November 15th. Maxim Group downgraded Tetra Tech from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Finally, Robert W. Baird increased their target price on Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $48.52.

About Tetra Tech

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.