Tetra Tech, Inc. (NASDAQ:TTEK) Short Interest Update

Tetra Tech, Inc. (NASDAQ:TTEK) was the recipient of a large increase in short interest in the month of November. As of November 15th, there was short interest totalling 5,090,000 shares, an increase of 29.8% from the October 31st total of 3,920,000 shares. Based on an average daily trading volume, of 1,770,000 shares, the short-interest ratio is currently 2.9 days.

Analysts Set New Price Targets

A number of equities research analysts have commented on TTEK shares. Royal Bank of Canada reissued an “outperform” rating and issued a $52.00 price objective on shares of Tetra Tech in a research report on Friday, November 15th. StockNews.com downgraded shares of Tetra Tech from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. KeyCorp dropped their price objective on shares of Tetra Tech from $56.00 to $49.00 and set an “overweight” rating on the stock in a research report on Friday, November 15th. Finally, Robert W. Baird increased their target price 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. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Tetra Tech currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.32.

Insider Buying and Selling

In related news, CFO Steven M. Burdick sold 36,830 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $46.57, for a total transaction of $1,715,173.10. Following the sale, the chief financial officer now directly owns 112,620 shares of the company’s stock, valued at $5,244,713.40. This represents a 24.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kimberly E. Ritrievi sold 6,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $46.48, for a total transaction of $302,120.00. Following the sale, the director now directly owns 143,200 shares in the company, valued at approximately $6,655,936. The trade was a 4.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 121,750 shares of company stock valued at $5,633,239 in the last ninety days. Company insiders own 0.61% of the company’s stock.

Institutional Trading of Tetra Tech

Large investors have recently bought and sold shares of the business. Banque Cantonale Vaudoise acquired a new stake in Tetra Tech during the 2nd quarter worth $28,000. EverSource Wealth Advisors LLC lifted its stake in shares of Tetra Tech by 561.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 205 shares of the industrial products company’s stock worth $44,000 after acquiring an additional 174 shares during the period. Family Firm Inc. acquired a new stake in shares of Tetra Tech in the 2nd quarter worth $51,000. Quarry LP acquired a new stake in shares of Tetra Tech in the 2nd quarter worth $54,000. Finally, CWM LLC lifted its stake in shares of Tetra Tech by 20.2% in the 2nd quarter. CWM LLC now owns 304 shares of the industrial products company’s stock worth $62,000 after acquiring an additional 51 shares during the period. Institutional investors and hedge funds own 93.89% of the company’s stock.

Tetra Tech Stock Up 0.1 %

Shares of NASDAQ TTEK traded up $0.04 during mid-day trading on Friday, reaching $41.51. The company had a trading volume of 1,335,703 shares, compared to its average volume of 2,900,699. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.44. The firm has a 50 day simple moving average of $46.58 and a two-hundred day simple moving average of $44.58. The stock has a market cap of $11.11 billion, a P/E ratio of 33.75 and a beta of 0.94. Tetra Tech has a 52-week low of $30.92 and a 52-week high of $51.20.

Tetra Tech Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be paid a dividend of $0.058 per share. This represents a $0.23 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date is Wednesday, November 27th. Tetra Tech’s dividend payout ratio is currently 18.70%.

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.