First Western Trust Bank Acquires 9,203 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

First Western Trust Bank raised its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 358.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 11,770 shares of the industrial products company’s stock after acquiring an additional 9,203 shares during the period. First Western Trust Bank’s holdings in Tetra Tech were worth $555,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Banque Cantonale Vaudoise bought a new stake in Tetra Tech in the second quarter valued at about $28,000. EverSource Wealth Advisors LLC increased 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 valued at $44,000 after acquiring an additional 174 shares during the last quarter. Family Firm Inc. acquired a new stake in shares of Tetra Tech in the 2nd quarter valued at approximately $51,000. Quarry LP bought a new position in Tetra Tech during the 2nd quarter worth approximately $54,000. Finally, 1832 Asset Management L.P. grew its holdings in Tetra Tech by 125.8% during the first quarter. 1832 Asset Management L.P. now owns 271 shares of the industrial products company’s stock valued at $50,000 after purchasing an additional 151 shares during the period. Institutional investors and hedge funds own 93.89% of the company’s stock.

Analysts Set New Price Targets

TTEK has been the topic of a number of recent analyst reports. KeyCorp reduced their price target 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. StockNews.com lowered Tetra Tech from a “buy” rating to a “hold” rating in a report on Friday. Robert W. Baird increased their price target on Tetra Tech from $46.00 to $47.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $52.00 price objective on shares of Tetra Tech in a report on Friday. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $49.32.

Insider Activity

In other Tetra Tech news, CFO Steven M. Burdick sold 36,830 shares of the firm’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 completion of the sale, the chief financial officer now directly owns 112,620 shares in the company, valued at $5,244,713.40. This trade represents a 24.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Leslie L. Shoemaker sold 78,420 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $46.11, for a total value of $3,615,946.20. Following the completion of the transaction, the executive vice president now directly owns 296,015 shares in the company, valued at $13,649,251.65. The trade was a 20.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 121,750 shares of company stock valued at $5,633,239 over the last three months. Insiders own 0.61% of the company’s stock.

Tetra Tech Price Performance

Shares of NASDAQ TTEK opened at $41.27 on Monday. Tetra Tech, Inc. has a fifty-two week low of $30.92 and a fifty-two week high of $51.20. The stock has a market capitalization of $11.05 billion, a price-to-earnings ratio of 33.50 and a beta of 0.94. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.25 and a quick ratio of 1.21. The business has a 50-day moving average of $47.60 and a 200-day moving average of $44.58.

Tetra Tech Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th will be paid a $0.058 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.23 annualized dividend and a yield of 0.56%. Tetra Tech’s dividend payout ratio is 18.67%.

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.