Banque Cantonale Vaudoise Grows Holdings in Tetra Tech, Inc. (NASDAQ:TTEK)

Banque Cantonale Vaudoise increased its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 400.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 695 shares of the industrial products company’s stock after purchasing an additional 556 shares during the period. Banque Cantonale Vaudoise’s holdings in Tetra Tech were worth $33,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Sarasin & Partners LLP lifted its holdings in shares of Tetra Tech by 330.9% during the third quarter. Sarasin & Partners LLP now owns 4,950,383 shares of the industrial products company’s stock worth $233,460,000 after purchasing an additional 3,801,435 shares during the period. Allspring Global Investments Holdings LLC raised its position 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 buying an additional 2,622,288 shares during the last quarter. abrdn plc lifted its stake in shares of Tetra Tech by 353.0% in the 3rd quarter. abrdn plc now owns 2,110,076 shares of the industrial products company’s stock worth $98,477,000 after acquiring an additional 1,644,267 shares during the period. Copeland Capital Management LLC boosted its holdings in shares of 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 acquiring an additional 1,355,351 shares in the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc increased its stake in shares of Tetra Tech by 337.0% during the third quarter. AEGON ASSET MANAGEMENT UK Plc now owns 1,466,385 shares of the industrial products company’s stock worth $69,081,000 after acquiring an additional 1,130,842 shares during the period. 93.89% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Tetra Tech

In related news, Director Kimberly E. Ritrievi sold 6,500 shares of Tetra Tech stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $46.48, for a total transaction of $302,120.00. Following the completion of the transaction, the director now directly owns 143,200 shares in the company, valued at $6,655,936. The trade was a 4.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Leslie L. Shoemaker sold 78,420 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $46.11, for a total value 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 position. The disclosure for this sale can be found here. Insiders sold 121,750 shares of company stock valued at $5,633,239 in the last 90 days. 0.61% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. StockNews.com downgraded shares of Tetra Tech from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. KeyCorp decreased their price target on Tetra Tech from $56.00 to $49.00 and set an “overweight” rating on the stock in a research note on Friday, November 15th. Robert W. Baird increased their price objective on Tetra Tech from $46.00 to $47.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $52.00 target price on shares of Tetra Tech in a report on Friday, November 15th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Tetra Tech currently has an average rating of “Moderate Buy” and a consensus target price of $49.32.

Tetra Tech Stock Performance

NASDAQ TTEK opened at $40.96 on Friday. The business has a 50 day moving average price of $47.06 and a 200 day moving average price of $44.62. The company has a market capitalization of $10.97 billion, a P/E ratio of 33.25 and a beta of 0.94. 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 current ratio of 1.25 and a quick ratio of 1.21.

Tetra Tech Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th will be given a $0.058 dividend. This represents a $0.23 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date is Wednesday, November 27th. Tetra Tech’s dividend payout ratio is currently 18.67%.

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.