Corebridge Financial Inc. Trims Stock Position in Tetra Tech, Inc. (NASDAQ:TTEK)

Corebridge Financial Inc. cut its holdings in Tetra Tech, Inc. (NASDAQ:TTEK) by 4.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 303,578 shares of the industrial products company’s stock after selling 13,400 shares during the period. Corebridge Financial Inc. owned 0.11% of Tetra Tech worth $12,095,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Millburn Ridgefield Corp lifted its stake in shares of Tetra Tech by 346.9% in the 3rd quarter. Millburn Ridgefield Corp now owns 800 shares of the industrial products company’s stock valued at $37,000 after purchasing an additional 621 shares during the last quarter. R Squared Ltd purchased a new stake in Tetra Tech in the 4th quarter valued at about $39,000. Asset Planning Inc acquired a new position in Tetra Tech in the fourth quarter valued at about $40,000. Jones Financial Companies Lllp boosted its stake in Tetra Tech by 98.0% during the fourth quarter. Jones Financial Companies Lllp now owns 1,000 shares of the industrial products company’s stock worth $40,000 after buying an additional 495 shares during the period. Finally, Brown Brothers Harriman & Co. increased its position in shares of Tetra Tech by 400.0% during the third quarter. Brown Brothers Harriman & Co. now owns 1,080 shares of the industrial products company’s stock valued at $51,000 after acquiring an additional 864 shares during the last quarter. 93.89% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on TTEK shares. Maxim Group cut shares of Tetra Tech from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Royal Bank of Canada set a $49.00 price target on Tetra Tech in a research report on Friday, January 31st. Finally, 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. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $47.92.

Tetra Tech Stock Performance

NASDAQ:TTEK opened at $29.44 on Wednesday. Tetra Tech, Inc. has a 52 week low of $28.17 and a 52 week high of $51.20. The company has a fifty day simple moving average of $33.16 and a two-hundred day simple moving average of $40.68. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.53. The company has a market cap of $7.89 billion, a price-to-earnings ratio of 30.92 and a beta of 0.93.

Tetra Tech (NASDAQ:TTEK) last released its earnings results on Wednesday, January 29th. The industrial products company reported $0.35 EPS for the quarter, topping the consensus estimate 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, equities analysts anticipate that Tetra Tech, Inc. will post 1.37 earnings per share for the current fiscal year.

Tetra Tech Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were issued a $0.058 dividend. The ex-dividend date was Wednesday, February 12th. This represents a $0.23 annualized dividend and a yield of 0.79%. Tetra Tech’s dividend payout ratio (DPR) is 24.21%.

Insider Buying and Selling

In other news, Director Kirsten M. Volpi sold 10,116 shares of the firm’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $34.33, for a total value of $347,282.28. Following the sale, the director now directly owns 60,196 shares in the company, valued at approximately $2,066,528.68. This trade represents a 14.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.40% of the stock is owned by insiders.

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.