Exchange Traded Concepts LLC Buys 44,173 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

Exchange Traded Concepts LLC raised its holdings in Tetra Tech, Inc. (NASDAQ:TTEK) by 866.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 49,271 shares of the industrial products company’s stock after acquiring an additional 44,173 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Tetra Tech were worth $1,963,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. EverSource Wealth Advisors LLC boosted its stake in Tetra Tech by 561.3% in the second 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. American Century Companies Inc. raised its holdings in Tetra Tech by 3.3% in the second quarter. American Century Companies Inc. now owns 5,841 shares of the industrial products company’s stock worth $1,194,000 after purchasing an additional 185 shares during the period. Quarry LP acquired a new stake in Tetra Tech in the second quarter worth $54,000. Nordea Investment Management AB raised its holdings in Tetra Tech by 0.9% in the fourth quarter. Nordea Investment Management AB now owns 45,422 shares of the industrial products company’s stock worth $1,809,000 after purchasing an additional 411 shares during the period. Finally, LGT Financial Advisors LLC raised its holdings in Tetra Tech by 400.0% in the third quarter. LGT Financial Advisors LLC now owns 555 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 444 shares during the period. 93.89% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Tetra Tech Stock Down 2.6 %

Shares of TTEK stock opened at $38.37 on Monday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.44. Tetra Tech, Inc. has a 1 year low of $31.61 and a 1 year high of $51.20. The firm’s fifty day moving average price is $41.06 and its two-hundred day moving average price is $44.30. The firm has a market capitalization of $10.28 billion, a P/E ratio of 31.14 and a beta of 0.90.

Tetra Tech Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th were given a $0.058 dividend. This represents a $0.23 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date of this dividend was Wednesday, November 27th. Tetra Tech’s dividend payout ratio (DPR) is presently 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.