Nomura Asset Management Co. Ltd. Raises Stock Holdings in Tetra Tech, Inc. (NASDAQ:TTEK)

Nomura Asset Management Co. Ltd. boosted its stake in Tetra Tech, Inc. (NASDAQ:TTEK) by 36.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,249,141 shares of the industrial products company’s stock after purchasing an additional 334,591 shares during the quarter. Nomura Asset Management Co. Ltd. owned about 0.47% of Tetra Tech worth $49,766,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Millburn Ridgefield Corp raised its position in shares of Tetra Tech by 346.9% during the 3rd quarter. Millburn Ridgefield Corp now owns 800 shares of the industrial products company’s stock valued at $37,000 after buying an additional 621 shares in the last quarter. R Squared Ltd bought a new position in Tetra Tech in the fourth quarter valued at $39,000. Asset Planning Inc purchased a new stake in Tetra Tech during the fourth quarter valued at about $40,000. Jones Financial Companies Lllp lifted its stake in Tetra Tech by 98.0% during the fourth quarter. Jones Financial Companies Lllp now owns 1,000 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 495 shares during the last quarter. Finally, Brown Brothers Harriman & Co. boosted its holdings in shares of Tetra Tech by 400.0% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,080 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 864 shares in the last quarter. 93.89% of the stock is currently owned by institutional investors.

Insider Activity at Tetra Tech

In other news, Director Kirsten M. Volpi sold 10,116 shares of Tetra Tech stock in a transaction that occurred 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 directly owns 60,196 shares in the company, valued at approximately $2,066,528.68. This trade represents a 14.39 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

TTEK has been the topic of a number of research reports. Maxim Group cut Tetra Tech from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. KeyCorp decreased their price target on shares of Tetra Tech from $49.00 to $45.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Finally, Royal Bank of Canada set a $49.00 price objective on shares of Tetra Tech in a research note on Friday, January 31st. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.92.

Tetra Tech Price Performance

Shares of Tetra Tech stock opened at $29.15 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.29 and a quick ratio of 1.29. Tetra Tech, Inc. has a one year low of $28.17 and a one year high of $51.20. The business’s 50 day simple moving average is $32.13 and its two-hundred day simple moving average is $40.21. The stock has a market capitalization of $7.81 billion, a P/E ratio of 30.62 and a beta of 0.93.

Tetra Tech (NASDAQ:TTEK) last posted 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%. Analysts forecast 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 was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were paid a $0.058 dividend. The ex-dividend date was Wednesday, February 12th. This represents a $0.23 annualized dividend and a dividend yield of 0.80%. Tetra Tech’s payout ratio is presently 24.21%.

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.