Commerce Bank increased its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 349.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 67,360 shares of the industrial products company's stock after buying an additional 52,376 shares during the period. Commerce Bank's holdings in Tetra Tech were worth $3,177,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the business. CWM LLC boosted its stake in Tetra Tech by 20.2% during the 2nd quarter. CWM LLC now owns 304 shares of the industrial products company's stock valued at $62,000 after purchasing an additional 51 shares during the last quarter. ELCO Management Co. LLC lifted its holdings in shares of Tetra Tech by 4.8% in the second quarter. ELCO Management Co. LLC now owns 1,313 shares of the industrial products company's stock valued at $268,000 after purchasing an additional 60 shares in the last quarter. CIBC Asset Management Inc boosted its position in shares of Tetra Tech by 4.8% during the second quarter. CIBC Asset Management Inc now owns 1,524 shares of the industrial products company's stock valued at $312,000 after buying an additional 70 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in Tetra Tech by 4.0% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,021 shares of the industrial products company's stock worth $413,000 after buying an additional 77 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in Tetra Tech by 0.8% in the 2nd quarter. Victory Capital Management Inc. now owns 11,229 shares of the industrial products company's stock valued at $2,296,000 after buying an additional 86 shares during the last quarter. 93.89% of the stock is owned by institutional investors.
Several research analysts recently weighed in on the stock. StockNews.com cut shares of Tetra Tech from a "buy" rating to a "hold" rating in a report on Friday, November 15th. Royal Bank of Canada restated an "outperform" rating and issued a $52.00 target price on shares of Tetra Tech in a research note on Friday, November 15th. 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 report on Friday, November 15th. Finally, Robert W. Baird upped their price objective on Tetra Tech from $46.00 to $47.00 and gave the company a "neutral" rating in a research note on Thursday, November 14th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, Tetra Tech currently has a consensus rating of "Moderate Buy" and an average price target of $49.32.
Check Out Our Latest Analysis on Tetra Tech
Shares of NASDAQ:TTEK opened at $40.96 on Friday. The company's fifty day moving average is $47.17 and its 200 day moving average is $44.62. The company has a quick ratio of 1.21, a current ratio of 1.25 and a debt-to-equity ratio of 0.44. Tetra Tech, Inc. has a 52 week low of $30.92 and a 52 week high of $51.20. The stock has a market cap of $10.96 billion, a PE ratio of 33.25 and a beta of 0.94.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th will be issued a $0.058 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $0.23 annualized dividend and a yield of 0.57%. Tetra Tech's dividend payout ratio (DPR) is presently 18.67%.
In other Tetra Tech news, CFO Steven M. Burdick sold 36,830 shares of Tetra Tech stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $46.57, for a total value of $1,715,173.10. Following the completion of the transaction, the chief financial officer now directly owns 112,620 shares of the company's stock, valued at approximately $5,244,713.40. The trade was 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 this link. 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 transaction, the executive vice president now directly owns 296,015 shares in the company, valued at $13,649,251.65. This trade represents a 20.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 121,750 shares of company stock valued at $5,633,239. Company insiders own 0.61% of the company's stock.
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.
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