Tetra Tech (NASDAQ:TTEK) Price Target Raised to $47.00

Tetra Tech (NASDAQ:TTEK) had its price target upped by Robert W. Baird from $46.00 to $47.00 in a research note issued to investors on Thursday,Benzinga reports. Robert W. Baird currently has a neutral rating on the industrial products company’s stock.

A number of other analysts have also recently commented on the stock. StockNews.com upgraded shares of Tetra Tech from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Royal Bank of Canada raised their price target on shares of Tetra Tech from $46.60 to $51.80 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Finally, KeyCorp raised their price target on shares of Tetra Tech from $49.00 to $56.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $49.32.

Tetra Tech Stock Up 0.8 %

TTEK stock opened at $41.27 on Thursday. The firm has a 50 day moving average of $47.60 and a 200 day moving average of $44.58. The stock has a market capitalization of $11.05 billion, a PE ratio of 33.55 and a beta of 0.94. The company has a quick ratio of 1.21, a current ratio of 1.25 and a debt-to-equity ratio of 0.44. Tetra Tech has a 52 week low of $30.92 and a 52 week high of $51.20.

Tetra Tech Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be paid a $0.058 dividend. 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 dividend payout ratio is currently 18.70%.

Insider Activity at Tetra Tech

In other Tetra Tech news, Director Kimberly E. Ritrievi sold 6,500 shares of the company’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $46.48, for a total transaction of $302,120.00. Following the completion of the transaction, the director now directly owns 143,200 shares in the company, valued at approximately $6,655,936. This represents a 4.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Steven M. Burdick sold 36,830 shares of the company’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $46.57, for a total transaction of $1,715,173.10. Following the transaction, the chief financial officer now owns 112,620 shares of the company’s stock, valued at $5,244,713.40. This represents a 24.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 121,750 shares of company stock worth $5,633,239 in the last three months. Company insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On Tetra Tech

A number of large investors have recently added to or reduced their stakes in TTEK. Sarasin & Partners LLP raised its position in Tetra Tech by 330.9% during the third quarter. Sarasin & Partners LLP now owns 4,950,383 shares of the industrial products company’s stock worth $233,460,000 after acquiring an additional 3,801,435 shares during the period. Geode Capital Management LLC grew its holdings in shares of Tetra Tech by 406.6% during the third quarter. Geode Capital Management LLC now owns 4,716,080 shares of the industrial products company’s stock worth $222,466,000 after buying an additional 3,785,189 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Tetra Tech by 387.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,299,418 shares of the industrial products company’s stock worth $155,601,000 after buying an additional 2,622,288 shares in the last quarter. abrdn plc grew its holdings in shares of Tetra Tech by 353.0% during the third quarter. abrdn plc now owns 2,110,076 shares of the industrial products company’s stock worth $98,477,000 after buying an additional 1,644,267 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Tetra Tech by 357.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,070,483 shares of the industrial products company’s stock worth $97,644,000 after buying an additional 1,618,211 shares in the last quarter. 93.89% of the stock is currently owned by institutional investors and hedge funds.

Tetra Tech Company 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.