Allspring Global Investments Holdings LLC Trims Stock Position in Tetra Tech, Inc. (NASDAQ:TTEK)

Allspring Global Investments Holdings LLC decreased its stake in Tetra Tech, Inc. (NASDAQ:TTEK) by 5.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,129,763 shares of the industrial products company’s stock after selling 169,655 shares during the period. Allspring Global Investments Holdings LLC owned 1.17% of Tetra Tech worth $124,812,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of TTEK. New England Research & Management Inc. purchased a new position in shares of Tetra Tech during the fourth quarter worth about $596,000. Harbor Capital Advisors Inc. grew its stake in Tetra Tech by 630.8% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 36,430 shares of the industrial products company’s stock worth $1,718,000 after buying an additional 31,445 shares during the last quarter. Arkadios Wealth Advisors increased its position in Tetra Tech by 615.8% during the third quarter. Arkadios Wealth Advisors now owns 22,310 shares of the industrial products company’s stock worth $1,052,000 after buying an additional 19,193 shares during the period. Perpetual Ltd lifted its stake in Tetra Tech by 9.6% in the fourth quarter. Perpetual Ltd now owns 215,042 shares of the industrial products company’s stock valued at $8,567,000 after buying an additional 18,842 shares during the last quarter. Finally, SFE Investment Counsel boosted its holdings in shares of Tetra Tech by 374.8% in the third quarter. SFE Investment Counsel now owns 36,330 shares of the industrial products company’s stock valued at $1,713,000 after acquiring an additional 28,679 shares during the period. 93.89% of the stock is owned by hedge funds and other institutional investors.

Tetra Tech Stock Performance

NASDAQ:TTEK opened at $32.25 on Wednesday. The firm’s fifty day simple moving average is $39.63 and its 200-day simple moving average is $43.85. The company has a quick ratio of 1.25, a current ratio of 1.29 and a debt-to-equity ratio of 0.53. The stock has a market cap of $8.64 billion, a PE ratio of 33.88 and a beta of 0.89. Tetra Tech, Inc. has a fifty-two week low of $31.09 and a fifty-two week high of $51.20.

Tetra Tech (NASDAQ:TTEK) last posted its earnings results 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%. Analysts expect that Tetra Tech, Inc. will post 1.37 earnings per share for the current fiscal year.

Tetra Tech Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th will be given a $0.058 dividend. The ex-dividend date is Wednesday, February 12th. This represents a $0.23 annualized dividend and a dividend yield of 0.72%. Tetra Tech’s dividend payout ratio is currently 24.16%.

Wall Street Analysts Forecast Growth

TTEK has been the topic of a number of recent research reports. KeyCorp cut their target price on shares of Tetra Tech from $49.00 to $45.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Robert W. Baird upped their target price on shares of Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Royal Bank of Canada reiterated an “outperform” rating and set a $52.00 target price on shares of Tetra Tech in a research note on Friday, November 15th. StockNews.com cut Tetra Tech from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Finally, Maxim Group cut Tetra Tech from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Tetra Tech presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.52.

Insider Activity at Tetra Tech

In other news, Director Kirsten M. Volpi sold 10,116 shares of the business’s 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 completion of the transaction, the director now owns 60,196 shares of the company’s stock, 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 filing with the SEC, which is available at the SEC website. Corporate insiders own 0.40% of the company’s stock.

Tetra Tech 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.