Tetra Tech, Inc. (NASDAQ:TTEK) Shares Acquired by Handelsbanken Fonder AB

Handelsbanken Fonder AB grew its stake in Tetra Tech, Inc. (NASDAQ:TTEK) by 8.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 68,345 shares of the industrial products company’s stock after acquiring an additional 5,300 shares during the quarter. Handelsbanken Fonder AB’s holdings in Tetra Tech were worth $2,723,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of TTEK. Nordea Investment Management AB raised its holdings in Tetra Tech by 0.9% in the 4th quarter. Nordea Investment Management AB now owns 45,422 shares of the industrial products company’s stock valued at $1,809,000 after buying an additional 411 shares during the period. CIBC Asset Management Inc raised its holdings in Tetra Tech by 5.6% in the 4th quarter. CIBC Asset Management Inc now owns 8,318 shares of the industrial products company’s stock valued at $331,000 after buying an additional 438 shares during the period. LGT Financial Advisors LLC raised its holdings in Tetra Tech by 400.0% in the 3rd quarter. LGT Financial Advisors LLC now owns 555 shares of the industrial products company’s stock valued at $26,000 after buying an additional 444 shares during the period. Allworth Financial LP raised its holdings in Tetra Tech by 629.3% in the 3rd quarter. Allworth Financial LP now owns 547 shares of the industrial products company’s stock valued at $26,000 after buying an additional 472 shares during the period. Finally, Canton Hathaway LLC raised its holdings in Tetra Tech by 400.0% in the 3rd quarter. Canton Hathaway LLC now owns 645 shares of the industrial products company’s stock valued at $30,000 after buying an additional 516 shares during the period. 93.89% of the stock is owned by institutional investors and hedge funds.

Tetra Tech Stock Performance

Shares of Tetra Tech stock opened at $30.02 on Tuesday. Tetra Tech, Inc. has a one year low of $29.23 and a one year high of $51.20. The company has a market cap of $8.05 billion, a PE ratio of 31.53 and a beta of 0.89. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.29 and a current ratio of 1.29. The business has a 50-day simple moving average of $37.50 and a 200-day simple moving average of $43.05.

Tetra Tech (NASDAQ:TTEK) last announced its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. Tetra Tech had a return on equity of 22.58% and a net margin of 4.81%. On average, equities research analysts forecast that Tetra Tech, Inc. will post 1.37 EPS for the current fiscal year.

Tetra Tech Announces Dividend

The firm also recently declared 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. This represents a $0.23 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend is Wednesday, February 12th. Tetra Tech’s dividend payout ratio (DPR) is 24.21%.

Analysts Set New Price Targets

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

Insider Activity at Tetra Tech

In related news, Director Kirsten M. Volpi sold 10,116 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now directly owns 60,196 shares of the company’s stock, valued at $2,066,528.68. This represents a 14.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.40% of the stock is currently owned by corporate insiders.

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.