Central Pacific Bank Trust Division Has $551,000 Stake in Tetra Tech, Inc. (NASDAQ:TTEK)

Central Pacific Bank Trust Division cut its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 20.0% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,829 shares of the industrial products company’s stock after selling 3,466 shares during the period. Central Pacific Bank Trust Division’s holdings in Tetra Tech were worth $551,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Sarasin & Partners LLP grew its holdings in shares of Tetra Tech by 330.9% during the 3rd 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 in the last quarter. Geode Capital Management LLC grew its stake in Tetra Tech by 406.6% in the third quarter. Geode Capital Management LLC now owns 4,716,080 shares of the industrial products company’s stock valued at $222,466,000 after purchasing an additional 3,785,189 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in Tetra Tech by 387.3% in 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 last quarter. abrdn plc raised its stake in shares of 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Tetra Tech by 357.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,070,483 shares of the industrial products company’s stock valued at $97,644,000 after buying an additional 1,618,211 shares during the last quarter. Institutional investors and hedge funds own 93.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on TTEK. Robert W. Baird raised their price objective on shares of Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Royal Bank of Canada restated an “outperform” rating and set a $52.00 price target on shares of Tetra Tech in a report on Friday, November 15th. StockNews.com cut shares of Tetra Tech from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Finally, KeyCorp cut their target price on Tetra Tech from $56.00 to $49.00 and set an “overweight” rating on the stock in a report on Friday, November 15th. Two equities research 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, the company has a consensus rating of “Moderate Buy” and an average price target of $49.32.

Tetra Tech Stock Up 0.9 %

Tetra Tech stock opened at $40.23 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.25 and a quick ratio of 1.25. Tetra Tech, Inc. has a fifty-two week low of $31.61 and a fifty-two week high of $51.20. The firm has a fifty day moving average price of $43.03 and a two-hundred day moving average price of $44.35. The firm has a market cap of $10.77 billion, a price-to-earnings ratio of 32.65 and a beta of 0.89.

Tetra Tech Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Wednesday, November 27th were paid a dividend of $0.058 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $0.23 annualized dividend and a yield of 0.58%. Tetra Tech’s payout ratio is 18.70%.

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.