Fortress Financial Solutions LLC Acquires New Position in Tetra Tech, Inc. (NASDAQ:TTEK)

Fortress Financial Solutions LLC bought a new position in shares of Tetra Tech, Inc. (NASDAQ:TTEK) during the fourth quarter, HoldingsChannel reports. The firm bought 7,038 shares of the industrial products company’s stock, valued at approximately $280,000.

Several other hedge funds also recently made changes to their positions in TTEK. Nordea Investment Management AB raised its position in shares of Tetra Tech by 0.9% during the 4th quarter. Nordea Investment Management AB now owns 45,422 shares of the industrial products company’s stock valued at $1,809,000 after acquiring an additional 411 shares in the last quarter. LGT Financial Advisors LLC increased its stake in Tetra Tech by 400.0% during the third quarter. LGT Financial Advisors LLC now owns 555 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 444 shares during the last quarter. Allworth Financial LP raised its holdings in shares of Tetra Tech by 629.3% during the third quarter. Allworth Financial LP now owns 547 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 472 shares during the period. Canton Hathaway LLC lifted its position in shares of Tetra Tech by 400.0% in the 3rd quarter. Canton Hathaway LLC now owns 645 shares of the industrial products company’s stock worth $30,000 after buying an additional 516 shares during the last quarter. Finally, Osprey Private Wealth LLC boosted its holdings in shares of Tetra Tech by 0.3% in the 4th quarter. Osprey Private Wealth LLC now owns 170,850 shares of the industrial products company’s stock valued at $6,807,000 after buying an additional 525 shares during the period. Institutional investors and hedge funds own 93.89% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on TTEK shares. Maxim Group cut shares of Tetra Tech from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Royal Bank of Canada reissued an “outperform” rating and issued a $52.00 price target on shares of Tetra Tech in a report on Friday, November 15th. StockNews.com lowered Tetra Tech from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. KeyCorp cut their target price on Tetra Tech from $49.00 to $45.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Finally, Robert W. Baird boosted their price target 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. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Tetra Tech has a consensus rating of “Moderate Buy” and a consensus target price of $48.52.

Insider Activity

In other news, Director Kirsten M. Volpi sold 10,116 shares of the business’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $34.33, for a total value of $347,282.28. Following the sale, the director now owns 60,196 shares of the company’s stock, valued at approximately $2,066,528.68. The trade was a 14.39 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.40% of the company’s stock.

Tetra Tech Stock Down 2.9 %

TTEK opened at $32.25 on Wednesday. The stock’s 50 day moving average price is $39.63 and its 200 day moving average price is $43.85. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.29 and a quick ratio of 1.25. The stock has a market cap of $8.64 billion, a P/E ratio of 33.88 and a beta of 0.89. Tetra Tech, Inc. has a 12 month low of $31.09 and a 12 month high of $51.20.

Tetra Tech (NASDAQ:TTEK) last issued its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $0.35 EPS for the quarter, beating 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%. As a group, research analysts predict that Tetra Tech, Inc. will post 1.37 earnings per share for the current year.

Tetra Tech Dividend Announcement

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

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.