Teacher Retirement System of Texas Boosts Stock Position in Tetra Tech, Inc. (NASDAQ:TTEK)

Teacher Retirement System of Texas grew its holdings in Tetra Tech, Inc. (NASDAQ:TTEK) by 130.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,383,025 shares of the industrial products company’s stock after buying an additional 783,736 shares during the quarter. Teacher Retirement System of Texas’ holdings in Tetra Tech were worth $55,100,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Xponance Inc. lifted its stake in shares of Tetra Tech by 7.3% in the 4th quarter. Xponance Inc. now owns 43,003 shares of the industrial products company’s stock valued at $1,713,000 after purchasing an additional 2,924 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in shares of Tetra Tech by 16.8% in the 4th quarter. Advisors Asset Management Inc. now owns 98,306 shares of the industrial products company’s stock valued at $3,917,000 after buying an additional 14,132 shares during the period. Terra Alpha Investments LLC purchased a new stake in shares of Tetra Tech in the 4th quarter valued at $1,869,000. Counterpoint Mutual Funds LLC purchased a new stake in shares of Tetra Tech in the 4th quarter valued at $310,000. Finally, Polen Capital Management LLC raised its holdings in shares of Tetra Tech by 86.7% in the 4th quarter. Polen Capital Management LLC now owns 43,162 shares of the industrial products company’s stock valued at $1,720,000 after buying an additional 20,038 shares during the period. 93.89% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Maxim Group downgraded Tetra Tech from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. KeyCorp cut their price objective on Tetra Tech from $49.00 to $45.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Finally, Royal Bank of Canada set a $49.00 price objective on Tetra Tech in a report on Friday, January 31st. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $47.92.

Tetra Tech Price Performance

Shares of NASDAQ TTEK opened at $29.26 on Friday. The stock’s 50-day moving average is $33.65 and its two-hundred day moving average is $40.93. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.29 and a quick ratio of 1.29. Tetra Tech, Inc. has a 1-year low of $28.17 and a 1-year high of $51.20. The company has a market cap of $7.84 billion, a price-to-earnings ratio of 30.74 and a beta of 0.93.

Tetra Tech (NASDAQ:TTEK) last released its quarterly earnings data 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%. Analysts forecast that Tetra Tech, Inc. will post 1.37 EPS for the current fiscal year.

Tetra Tech Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were issued a $0.058 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $0.23 dividend on an annualized basis and a dividend yield of 0.79%. Tetra Tech’s payout ratio is currently 24.21%.

Insider Activity

In other news, Director Kirsten M. Volpi sold 10,116 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $34.33, for a total value of $347,282.28. Following the transaction, the director now owns 60,196 shares in the company, valued at approximately $2,066,528.68. This represents a 14.39 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.40% of the company’s stock.

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.