Charter Oak Advisors LP Acquires New Position in Tetra Tech, Inc. (NASDAQ:TTEK)

Charter Oak Advisors LP bought a new stake in Tetra Tech, Inc. (NASDAQ:TTEK) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 64,322 shares of the industrial products company’s stock, valued at approximately $2,563,000. Tetra Tech comprises 1.5% of Charter Oak Advisors LP’s investment portfolio, making the stock its 13th biggest position.

Other hedge funds have also made changes to their positions in the company. MML Investors Services LLC lifted its position in Tetra Tech by 405.1% in the third quarter. MML Investors Services LLC now owns 39,412 shares of the industrial products company’s stock valued at $1,859,000 after buying an additional 31,609 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Tetra Tech in the 3rd quarter valued at approximately $285,000. Capstone Capital LLC lifted its holdings in shares of Tetra Tech by 400.0% in the 3rd quarter. Capstone Capital LLC now owns 5,075 shares of the industrial products company’s stock worth $239,000 after acquiring an additional 4,060 shares during the last quarter. Sanctuary Advisors LLC boosted its position in shares of Tetra Tech by 439.7% during the 3rd quarter. Sanctuary Advisors LLC now owns 27,902 shares of the industrial products company’s stock worth $1,316,000 after purchasing an additional 22,732 shares during the period. Finally, World Investment Advisors LLC increased its holdings in Tetra Tech by 393.9% in the 3rd quarter. World Investment Advisors LLC now owns 5,680 shares of the industrial products company’s stock valued at $268,000 after purchasing an additional 4,530 shares during the last quarter. Hedge funds and other institutional investors own 93.89% of the company’s stock.

Insider Activity

In other Tetra Tech news, Director Kirsten M. Volpi sold 10,116 shares of the 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 transaction, the director now directly owns 60,196 shares in the company, 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 at this hyperlink. Company insiders own 0.40% of the company’s stock.

Tetra Tech Trading Down 1.4 %

NASDAQ:TTEK opened at $29.98 on Wednesday. Tetra Tech, Inc. has a 12-month low of $27.27 and a 12-month high of $51.20. The firm has a market cap of $8.04 billion, a PE ratio of 31.49 and a beta of 0.89. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.53. The stock has a fifty day moving average price of $29.87 and a 200 day moving average price of $38.61.

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 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 anticipate that Tetra Tech, Inc. will post 1.37 earnings per share for the current fiscal year.

Tetra Tech Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were given a dividend of $0.058 per share. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $0.23 annualized dividend and a dividend yield of 0.77%. Tetra Tech’s dividend payout ratio is currently 24.21%.

Analysts Set New Price Targets

A number of research analysts have commented on TTEK shares. KeyCorp decreased their price target on Tetra Tech from $49.00 to $45.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Maxim Group lowered Tetra Tech from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. Finally, Royal Bank of Canada set a $49.00 target price on Tetra Tech in a research report on Friday, January 31st. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $47.92.

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.