Bowen Hanes & Co. Inc. Raises Stake in Tetra Tech, Inc. (NASDAQ:TTEK)

Bowen Hanes & Co. Inc. boosted its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 0.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,025,870 shares of the industrial products company’s stock after buying an additional 11,145 shares during the quarter. Tetra Tech accounts for about 2.2% of Bowen Hanes & Co. Inc.’s portfolio, making the stock its 12th largest holding. Bowen Hanes & Co. Inc.’s holdings in Tetra Tech were worth $80,711,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Venturi Wealth Management LLC boosted its stake in shares of Tetra Tech by 3,261.1% in the third quarter. Venturi Wealth Management LLC now owns 605 shares of the industrial products company’s stock worth $29,000 after buying an additional 587 shares during the last quarter. Canton Hathaway LLC boosted its position in Tetra Tech by 400.0% in the 3rd quarter. Canton Hathaway LLC now owns 645 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 516 shares in the last quarter. Banque Cantonale Vaudoise grew its stake 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 worth $33,000 after purchasing an additional 556 shares during the period. Millburn Ridgefield Corp increased its holdings 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 purchasing an additional 621 shares in the last quarter. Finally, R Squared Ltd purchased a new position in shares of Tetra Tech during the 4th quarter valued at approximately $39,000. 93.89% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on TTEK. Robert W. Baird raised their price target on shares of Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. StockNews.com lowered shares of Tetra Tech from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. KeyCorp cut their price target on Tetra Tech from $49.00 to $45.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Maxim Group downgraded Tetra Tech from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Finally, Royal Bank of Canada set a $49.00 price objective on Tetra Tech in a research report on Friday, January 31st. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $47.92.

Insider Activity

In related news, Director Kirsten M. Volpi sold 10,116 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $34.33, for a total transaction of $347,282.28. Following the completion of the sale, the director now owns 60,196 shares of the company’s stock, valued at approximately $2,066,528.68. This represents a 14.39 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.40% of the company’s stock.

Tetra Tech Stock Down 2.2 %

TTEK opened at $28.69 on Thursday. 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, Inc. has a twelve month low of $28.17 and a twelve month high of $51.20. The company has a market cap of $7.69 billion, a PE ratio of 30.14 and a beta of 0.93. The company has a 50-day moving average price of $35.12 and a 200 day moving average price of $41.80.

Tetra Tech (NASDAQ:TTEK) last released its earnings results on Wednesday, January 29th. The industrial products company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.01. Tetra Tech had a return on equity of 22.58% and a net margin of 4.81%. Sell-side analysts expect that Tetra Tech, Inc. will post 1.37 earnings per share for the current fiscal year.

Tetra Tech Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were issued a dividend of $0.058 per share. This represents a $0.23 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date was Wednesday, February 12th. Tetra Tech’s payout ratio is 24.21%.

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.