Tetra Tech, Inc. (NASDAQ:TTEK) Stake Raised by Assetmark Inc.

Assetmark Inc. grew its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 495.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,729 shares of the industrial products company’s stock after purchasing an additional 3,935 shares during the period. Assetmark Inc.’s holdings in Tetra Tech were worth $223,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in TTEK. Allworth Financial LP lifted its holdings in shares of Tetra Tech by 629.3% during the 3rd quarter. Allworth Financial LP now owns 547 shares of the industrial products company’s stock valued at $26,000 after buying an additional 472 shares during the last quarter. LGT Financial Advisors LLC raised its position 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 acquiring an additional 444 shares in the last quarter. Banque Cantonale Vaudoise acquired a new stake in Tetra Tech in the second quarter valued at approximately $28,000. USA Financial Formulas grew its position in Tetra Tech by 332.3% in the third quarter. USA Financial Formulas now owns 709 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 545 shares in the last quarter. Finally, Rise Advisors LLC increased its stake in shares of Tetra Tech by 402.1% during the 3rd quarter. Rise Advisors LLC now owns 723 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 579 shares during the last quarter. Hedge funds and other institutional investors own 93.89% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on TTEK. StockNews.com downgraded shares of Tetra Tech from a “buy” rating to a “hold” rating in a research report on Friday. KeyCorp decreased their price target on Tetra Tech from $56.00 to $49.00 and set an “overweight” rating for the company in a research note on Friday. Royal Bank of Canada reissued an “outperform” rating and issued a $52.00 price objective on shares of Tetra Tech in a research note on Friday. Finally, Robert W. Baird upped their target price on Tetra Tech from $46.00 to $47.00 and gave the stock a “neutral” rating in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Tetra Tech currently has a consensus rating of “Moderate Buy” and an average target price of $49.32.

Insider Transactions at Tetra Tech

In other Tetra Tech news, CFO Steven M. Burdick sold 36,830 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $46.57, for a total transaction of $1,715,173.10. Following the transaction, the chief financial officer now owns 112,620 shares in the company, valued at approximately $5,244,713.40. This trade represents a 24.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Leslie L. Shoemaker sold 78,420 shares of Tetra Tech stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $46.11, for a total transaction of $3,615,946.20. Following the transaction, the executive vice president now directly owns 296,015 shares in the company, valued at $13,649,251.65. The trade was a 20.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 121,750 shares of company stock worth $5,633,239 over the last 90 days. 0.61% of the stock is owned by insiders.

Tetra Tech Trading Up 0.8 %

Shares of TTEK opened at $41.27 on Friday. The stock has a fifty day moving average price of $47.60 and a two-hundred day moving average price of $44.58. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.21 and a current ratio of 1.25. The company has a market cap of $11.05 billion, a price-to-earnings ratio of 33.50 and a beta of 0.94. Tetra Tech, Inc. has a 52-week low of $30.92 and a 52-week high of $51.20.

Tetra Tech Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th will be given a $0.058 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $0.23 dividend on an annualized basis and a yield of 0.56%. Tetra Tech’s payout ratio is 18.67%.

Tetra Tech 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.