King Luther Capital Management Corp Buys 261,951 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

King Luther Capital Management Corp increased its holdings in Tetra Tech, Inc. (NASDAQ:TTEK) by 662.6% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 301,485 shares of the industrial products company’s stock after buying an additional 261,951 shares during the period. King Luther Capital Management Corp owned 0.11% of Tetra Tech worth $14,218,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Harbor Capital Advisors Inc. boosted its stake in shares of Tetra Tech by 630.8% during the third quarter. Harbor Capital Advisors Inc. now owns 36,430 shares of the industrial products company’s stock valued at $1,718,000 after purchasing an additional 31,445 shares during the period. Arkadios Wealth Advisors grew its stake in shares of Tetra Tech by 615.8% in the third quarter. Arkadios Wealth Advisors now owns 22,310 shares of the industrial products company’s stock worth $1,052,000 after acquiring an additional 19,193 shares during the last quarter. SFE Investment Counsel raised its holdings in Tetra Tech by 374.8% in the 3rd quarter. SFE Investment Counsel now owns 36,330 shares of the industrial products company’s stock worth $1,713,000 after acquiring an additional 28,679 shares during the last quarter. US Bancorp DE lifted its stake in Tetra Tech by 401.8% during the 3rd quarter. US Bancorp DE now owns 17,093 shares of the industrial products company’s stock valued at $806,000 after acquiring an additional 13,687 shares during the period. Finally, VELA Investment Management LLC lifted its holdings in shares of Tetra Tech by 703.9% during the 3rd quarter. VELA Investment Management LLC now owns 58,510 shares of the industrial products company’s stock valued at $2,759,000 after buying an additional 51,232 shares during the period. Institutional investors own 93.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TTEK. KeyCorp reduced their target price on shares of Tetra Tech from $56.00 to $49.00 and set an “overweight” rating for the company in a report on Friday, November 15th. StockNews.com lowered shares of Tetra Tech from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Royal Bank of Canada reiterated an “outperform” rating and issued a $52.00 price target on shares of Tetra Tech in a report on Friday, November 15th. Finally, Robert W. Baird lifted their price target on Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Tetra Tech presently has a consensus rating of “Moderate Buy” and an average price target of $49.32.

Insiders Place Their Bets

In related news, Director Kimberly E. Ritrievi sold 6,500 shares of Tetra Tech stock in a transaction that occurred on Wednesday, September 11th. The stock was 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 in the company, valued at $6,655,936. The trade was a 4.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Steven M. Burdick sold 36,830 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $46.57, for a total value of $1,715,173.10. Following the completion of the sale, the chief financial officer now owns 112,620 shares in the company, valued at approximately $5,244,713.40. This represents a 24.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 121,750 shares of company stock valued at $5,633,239 in the last ninety days. Insiders own 0.61% of the company’s stock.

Tetra Tech Trading Up 1.4 %

Shares of TTEK stock opened at $40.79 on Friday. Tetra Tech, Inc. has a 1-year low of $30.92 and a 1-year high of $51.20. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.25 and a quick ratio of 1.21. The company has a 50-day moving average of $47.27 and a two-hundred day moving average of $44.63. The firm has a market cap of $10.92 billion, a PE ratio of 33.16 and a beta of 0.94.

Tetra Tech Announces Dividend

The company 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 $0.058 dividend. 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 18.70%.

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.