Tetra Tech, Inc. (NASDAQ:TTEK) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its position in Tetra Tech, Inc. (NASDAQ:TTEK) by 731.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 93,388 shares of the industrial products company’s stock after purchasing an additional 82,159 shares during the quarter. Victory Capital Management Inc.’s holdings in Tetra Tech were worth $4,404,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in TTEK. Sarasin & Partners LLP boosted its holdings in shares of Tetra Tech by 330.9% in the third quarter. Sarasin & Partners LLP now owns 4,950,383 shares of the industrial products company’s stock valued at $233,460,000 after acquiring an additional 3,801,435 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in Tetra Tech by 387.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,299,418 shares of the industrial products company’s stock worth $155,601,000 after purchasing an additional 2,622,288 shares during the period. abrdn plc grew its position in Tetra Tech by 353.0% during the 3rd quarter. abrdn plc now owns 2,110,076 shares of the industrial products company’s stock worth $98,477,000 after purchasing an additional 1,644,267 shares during the last quarter. Copeland Capital Management LLC increased its stake in Tetra Tech by 289.0% in the third quarter. Copeland Capital Management LLC now owns 1,824,250 shares of the industrial products company’s stock valued at $86,032,000 after purchasing an additional 1,355,351 shares during the period. Finally, Vontobel Holding Ltd. raised its holdings in shares of Tetra Tech by 409.4% in the third quarter. Vontobel Holding Ltd. now owns 1,425,589 shares of the industrial products company’s stock valued at $67,231,000 after buying an additional 1,145,738 shares during the last quarter. Hedge funds and other institutional investors own 93.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Robert W. Baird boosted their price target on Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. KeyCorp cut 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, November 15th. Royal Bank of Canada reiterated an “outperform” rating and issued a $52.00 price objective on shares of Tetra Tech in a research report on Friday, November 15th. Finally, StockNews.com downgraded shares of Tetra Tech from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $49.32.

Insider Buying and Selling

In other news, CFO Steven M. Burdick sold 36,830 shares of Tetra Tech stock in a transaction on 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 completion of the transaction, the chief financial officer now owns 112,620 shares of the company’s stock, valued at $5,244,713.40. The trade was a 24.64 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Leslie L. Shoemaker sold 78,420 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $46.11, for a total transaction of $3,615,946.20. Following the completion of the sale, the executive vice president now directly owns 296,015 shares in the company, valued at approximately $13,649,251.65. The trade was a 20.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 121,750 shares of company stock valued at $5,633,239. Corporate insiders own 0.61% of the company’s stock.

Tetra Tech Trading Up 0.4 %

NASDAQ:TTEK opened at $40.96 on Friday. Tetra Tech, Inc. has a 1 year low of $30.92 and a 1 year high of $51.20. 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 stock has a fifty day moving average price of $47.17 and a two-hundred day moving average price of $44.62. The stock has a market capitalization of $10.96 billion, a price-to-earnings ratio of 33.25 and a beta of 0.94.

Tetra Tech Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be paid a $0.058 dividend. This represents a $0.23 annualized dividend and a dividend yield of 0.57%. The ex-dividend date is Wednesday, November 27th. Tetra Tech’s dividend payout ratio (DPR) 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.