Blue Trust Inc. Acquires 2,287 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

Blue Trust Inc. raised its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 531.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,717 shares of the industrial products company’s stock after buying an additional 2,287 shares during the period. Blue Trust Inc.’s holdings in Tetra Tech were worth $108,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sarasin & Partners LLP raised its stake in shares of Tetra Tech by 330.9% in the 3rd quarter. Sarasin & Partners LLP now owns 4,950,383 shares of the industrial products company’s stock valued at $233,460,000 after acquiring an additional 3,801,435 shares in the last quarter. Geode Capital Management LLC grew its holdings in Tetra Tech by 406.6% during the third quarter. Geode Capital Management LLC now owns 4,716,080 shares of the industrial products company’s stock valued at $222,466,000 after purchasing an additional 3,785,189 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Tetra Tech by 387.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,299,418 shares of the industrial products company’s stock valued at $155,601,000 after purchasing an additional 2,622,288 shares during the period. abrdn plc lifted its stake in shares of Tetra Tech by 353.0% in the third quarter. abrdn plc now owns 2,110,076 shares of the industrial products company’s stock worth $98,477,000 after buying an additional 1,644,267 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Tetra Tech by 357.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,070,483 shares of the industrial products company’s stock worth $97,644,000 after buying an additional 1,618,211 shares during the period. Institutional investors and hedge funds own 93.89% of the company’s stock.

Insider Buying and Selling 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 shares were sold at an average price of $34.33, for a total value of $347,282.28. Following the completion of the transaction, the director now owns 60,196 shares in the company, valued at approximately $2,066,528.68. The trade was a 14.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.40% of the company’s stock.

Analyst Ratings Changes

TTEK has been the topic of several recent analyst reports. Maxim Group downgraded shares of Tetra Tech from a “buy” rating to a “hold” rating in a report on Thursday. Royal Bank of Canada reiterated an “outperform” rating and issued a $52.00 price objective on shares of Tetra Tech in a research note on Friday, November 15th. StockNews.com cut 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 on the stock in a report on Friday, January 31st. Finally, Robert W. Baird upped their price target on Tetra Tech from $46.00 to $47.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $48.52.

Tetra Tech Trading Down 0.9 %

Shares of TTEK opened at $33.78 on Friday. The firm has a market capitalization of $9.05 billion, a price-to-earnings ratio of 35.48 and a beta of 0.89. Tetra Tech, Inc. has a 12-month low of $31.09 and a 12-month high of $51.20. The stock’s 50-day moving average price is $40.32 and its 200 day moving average price is $44.07. 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 (NASDAQ:TTEK) last announced its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.35 earnings per share (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%. As a group, research analysts predict that Tetra Tech, Inc. will post 1.37 earnings per share for the current year.

Tetra Tech Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th will be paid a dividend of $0.058 per share. The ex-dividend date is Wednesday, February 12th. This represents a $0.23 annualized dividend and a yield of 0.69%. Tetra Tech’s dividend payout ratio is currently 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.