Edgestream Partners L.P. Raises Stock Position in Tetra Tech, Inc. (NASDAQ:TTEK)

Edgestream Partners L.P. lifted its stake in Tetra Tech, Inc. (NASDAQ:TTEK) by 74.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 16,010 shares of the industrial products company’s stock after acquiring an additional 6,835 shares during the period. Edgestream Partners L.P.’s holdings in Tetra Tech were worth $755,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Progeny 3 Inc. purchased a new position in Tetra Tech during the 3rd quarter worth approximately $7,645,000. PDT Partners LLC acquired a new stake in shares of Tetra Tech in the third quarter valued at approximately $458,000. Fred Alger Management LLC grew its position in shares of Tetra Tech by 400.0% during the third quarter. Fred Alger Management LLC now owns 53,145 shares of the industrial products company’s stock worth $2,506,000 after acquiring an additional 42,516 shares during the last quarter. Captrust Financial Advisors increased its holdings in shares of Tetra Tech by 463.7% in the 3rd quarter. Captrust Financial Advisors now owns 24,724 shares of the industrial products company’s stock valued at $1,166,000 after acquiring an additional 20,338 shares during the period. Finally, Rockefeller Capital Management L.P. raised its position in Tetra Tech by 365.0% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 1,138,716 shares of the industrial products company’s stock valued at $53,739,000 after purchasing an additional 893,827 shares during the last quarter. 93.89% of the stock is currently owned by institutional investors and hedge funds.

Tetra Tech Stock Up 0.3 %

TTEK opened at $42.94 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.25 and a quick ratio of 1.25. Tetra Tech, Inc. has a 12 month low of $31.61 and a 12 month high of $51.20. The stock has a market capitalization of $11.50 billion, a P/E ratio of 34.85 and a beta of 0.88. The business has a 50 day simple moving average of $46.22 and a 200-day simple moving average of $44.57.

Tetra Tech Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th will be given a dividend of $0.058 per share. The ex-dividend date is Wednesday, November 27th. This represents a $0.23 annualized dividend and a dividend yield of 0.54%. Tetra Tech’s payout ratio is currently 18.67%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $52.00 price objective on shares of Tetra Tech in a research report on Friday, November 15th. KeyCorp dropped their price target on Tetra Tech from $56.00 to $49.00 and set an “overweight” rating on the stock in a research report on Friday, November 15th. Robert W. Baird upped their price objective on Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Finally, StockNews.com downgraded Tetra Tech from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $49.32.

Insider Transactions at Tetra Tech

In other Tetra Tech news, EVP Leslie L. Shoemaker sold 78,420 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $46.11, for a total value of $3,615,946.20. Following the sale, the executive vice president now owns 296,015 shares of the company’s stock, valued at approximately $13,649,251.65. This represents a 20.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kimberly E. Ritrievi sold 6,500 shares of the firm’s stock in a transaction on Wednesday, September 11th. The shares were 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 owns 143,200 shares of the company’s stock, valued at approximately $6,655,936. This represents a 4.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 121,750 shares of company stock valued at $5,633,239 in the last ninety days. 0.61% of the stock is currently owned by company insiders.

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.