Assetmark Inc. Acquires 3,935 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

Assetmark Inc. grew its stake in Tetra Tech, Inc. (NASDAQ:TTEK) by 495.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 4,729 shares of the industrial products company’s stock after purchasing an additional 3,935 shares during the quarter. Assetmark Inc.’s holdings in Tetra Tech were worth $223,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. CWM LLC boosted its position in Tetra Tech by 20.2% during the second quarter. CWM LLC now owns 304 shares of the industrial products company’s stock valued at $62,000 after purchasing an additional 51 shares during the last quarter. ELCO Management Co. LLC boosted its holdings in shares of Tetra Tech by 4.8% in the 2nd quarter. ELCO Management Co. LLC now owns 1,313 shares of the industrial products company’s stock valued at $268,000 after buying an additional 60 shares during the last quarter. CIBC Asset Management Inc grew its stake in shares of Tetra Tech by 4.8% in the second quarter. CIBC Asset Management Inc now owns 1,524 shares of the industrial products company’s stock valued at $312,000 after buying an additional 70 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in Tetra Tech by 4.0% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,021 shares of the industrial products company’s stock worth $413,000 after buying an additional 77 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in Tetra Tech by 0.8% during the second quarter. Victory Capital Management Inc. now owns 11,229 shares of the industrial products company’s stock worth $2,296,000 after buying an additional 86 shares during the last quarter. Institutional investors and hedge funds own 93.89% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. StockNews.com downgraded shares of Tetra Tech from a “buy” rating to a “hold” rating in a research note on Friday. Royal Bank of Canada restated an “outperform” rating and issued a $52.00 price objective on shares of Tetra Tech in a research note on Friday. KeyCorp reduced their target price on Tetra Tech from $56.00 to $49.00 and set an “overweight” rating for the company in a research note on Friday. Finally, Robert W. Baird boosted their target price on Tetra Tech from $46.00 to $47.00 and gave the stock a “neutral” rating in a report on Thursday. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $49.32.

Insider Transactions at Tetra Tech

In related news, EVP Leslie L. Shoemaker sold 78,420 shares of Tetra Tech stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $46.11, for a total transaction of $3,615,946.20. Following the completion of the transaction, the executive vice president now owns 296,015 shares of the company’s stock, valued at $13,649,251.65. This trade represents a 20.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kimberly E. Ritrievi sold 6,500 shares of Tetra Tech stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $46.48, for a total value of $302,120.00. Following the completion of the transaction, the director now directly owns 143,200 shares of the company’s stock, valued at approximately $6,655,936. This trade represents a 4.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 121,750 shares of company stock worth $5,633,239. Company insiders own 0.61% of the company’s stock.

Tetra Tech Stock Performance

Shares of Tetra Tech stock opened at $41.27 on Friday. The company’s 50 day moving average price is $47.60 and its two-hundred day moving average price is $44.58. The firm has a market capitalization of $11.05 billion, a P/E 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. Tetra Tech, Inc. has a fifty-two week low of $30.92 and a fifty-two week high of $51.20.

Tetra Tech Announces Dividend

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

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.