South Dakota Investment Council Increases Stake in Tetra Tech, Inc. (NASDAQ:TTEK)

South Dakota Investment Council raised its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 7.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100,270 shares of the industrial products company’s stock after buying an additional 6,900 shares during the quarter. South Dakota Investment Council’s holdings in Tetra Tech were worth $3,995,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Geode Capital Management LLC grew its holdings in Tetra Tech by 406.6% during the 3rd quarter. Geode Capital Management LLC now owns 4,716,080 shares of the industrial products company’s stock valued at $222,466,000 after buying an additional 3,785,189 shares in the last quarter. abrdn plc grew its holdings in Tetra Tech by 7.6% during the 4th quarter. abrdn plc now owns 2,269,777 shares of the industrial products company’s stock valued at $90,031,000 after buying an additional 159,701 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in 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 valued at $97,644,000 after buying an additional 1,618,211 shares in the last quarter. Premier Fund Managers Ltd grew its holdings in shares of Tetra Tech by 400.0% in the third quarter. Premier Fund Managers Ltd now owns 1,500,000 shares of the industrial products company’s stock valued at $69,615,000 after purchasing an additional 1,200,000 shares in the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc grew its holdings in shares of Tetra Tech by 337.0% in the third quarter. AEGON ASSET MANAGEMENT UK Plc now owns 1,466,385 shares of the industrial products company’s stock valued at $69,081,000 after purchasing an additional 1,130,842 shares in the last quarter. 93.89% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Tetra Tech

In related news, Director Kirsten M. Volpi sold 10,116 shares of Tetra Tech stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $34.33, for a total value of $347,282.28. Following the completion of the sale, the director now directly owns 60,196 shares in the company, valued at $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 available through the SEC website. 0.40% of the stock is currently owned by corporate insiders.

Tetra Tech Stock Down 0.1 %

NASDAQ:TTEK opened at $29.93 on Monday. Tetra Tech, Inc. has a twelve month low of $29.23 and a twelve month high of $51.20. The company has a market cap of $8.02 billion, a price-to-earnings ratio of 31.44 and a beta of 0.89. The stock has a fifty day simple moving average of $37.73 and a 200-day simple moving average of $43.15. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.53.

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, topping 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%. Analysts anticipate that Tetra Tech, Inc. will post 1.37 EPS for the current year.

Tetra Tech Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th will be issued a $0.058 dividend. The ex-dividend date is Wednesday, February 12th. This represents a $0.23 annualized dividend and a dividend yield of 0.78%. Tetra Tech’s payout ratio is currently 24.21%.

Analyst Upgrades and Downgrades

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

Tetra Tech Company 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.