KLP Kapitalforvaltning AS Takes $2.21 Million Position in Tetra Tech, Inc. (NASDAQ:TTEK)

KLP Kapitalforvaltning AS acquired a new position in Tetra Tech, Inc. (NASDAQ:TTEK) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 55,400 shares of the industrial products company’s stock, valued at approximately $2,207,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. New England Research & Management Inc. purchased a new position in shares of Tetra Tech during the 4th quarter worth $596,000. Nicola Wealth Management LTD. lifted its position in Tetra Tech by 36.8% in the fourth quarter. Nicola Wealth Management LTD. now owns 65,000 shares of the industrial products company’s stock valued at $2,590,000 after buying an additional 17,500 shares during the last quarter. Lecap Asset Management Ltd. boosted its stake in Tetra Tech by 71.3% during the fourth quarter. Lecap Asset Management Ltd. now owns 44,769 shares of the industrial products company’s stock worth $1,784,000 after buying an additional 18,635 shares during the period. Y Intercept Hong Kong Ltd increased its position in shares of Tetra Tech by 53.3% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 39,150 shares of the industrial products company’s stock valued at $1,560,000 after acquiring an additional 13,606 shares during the last quarter. Finally, Perpetual Ltd raised its stake in shares of Tetra Tech by 9.6% in the 4th quarter. Perpetual Ltd now owns 215,042 shares of the industrial products company’s stock valued at $8,567,000 after acquiring an additional 18,842 shares during the period. Institutional investors and hedge funds own 93.89% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. KeyCorp dropped their target price on shares of Tetra Tech from $49.00 to $45.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Royal Bank of Canada set a $49.00 price target on Tetra Tech in a research report on Friday, January 31st. Finally, Maxim Group lowered Tetra Tech from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $47.92.

Insider Buying and Selling

In other Tetra Tech news, Director Kirsten M. Volpi sold 10,116 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $34.33, for a total transaction of $347,282.28. Following the completion of the transaction, the director now owns 60,196 shares in the company, valued at $2,066,528.68. The trade was a 14.39 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.40% of the company’s stock.

Tetra Tech Stock Performance

Shares of TTEK stock opened at $29.50 on Friday. The firm has a 50 day moving average of $32.40 and a two-hundred day moving average of $40.32. The stock has a market capitalization of $7.91 billion, a PE ratio of 30.99 and a beta of 0.93. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.53. Tetra Tech, Inc. has a 52 week low of $28.17 and a 52 week high of $51.20.

Tetra Tech (NASDAQ:TTEK) last released its earnings results on Wednesday, January 29th. The industrial products company reported $0.35 earnings per share (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%. On average, research analysts predict that Tetra Tech, Inc. will post 1.37 EPS for the current fiscal year.

Tetra Tech Dividend Announcement

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

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.