Entropy Technologies LP Grows Stock Holdings in Tetra Tech, Inc. (NASDAQ:TTEK)

Entropy Technologies LP lifted its holdings in Tetra Tech, Inc. (NASDAQ:TTEK) by 1,339.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,650 shares of the industrial products company’s stock after acquiring an additional 24,799 shares during the period. Entropy Technologies LP’s holdings in Tetra Tech were worth $1,257,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Sarasin & Partners LLP boosted its position 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 worth $233,460,000 after buying an additional 3,801,435 shares during the period. Allspring Global Investments Holdings LLC lifted 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 acquiring an additional 2,622,288 shares in the last quarter. abrdn plc boosted its holdings in 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 grew its position 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 acquiring an additional 1,355,351 shares in the last quarter. Finally, Vontobel Holding Ltd. raised its stake in shares of Tetra Tech by 409.4% during 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 purchasing an additional 1,145,738 shares during the period. Hedge funds and other institutional investors own 93.89% of the company’s stock.

Tetra Tech Trading Down 1.9 %

Shares of NASDAQ TTEK opened at $47.35 on Thursday. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.52. The stock’s 50 day moving average price is $47.82 and its two-hundred day moving average price is $44.55. Tetra Tech, Inc. has a 52-week low of $30.92 and a 52-week high of $51.20. The stock has a market capitalization of $12.67 billion, a P/E ratio of 43.76 and a beta of 0.94.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on TTEK shares. StockNews.com raised shares of Tetra Tech from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Robert W. Baird raised their target price on Tetra Tech from $44.60 to $46.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Royal Bank of Canada boosted their price target on Tetra Tech from $46.60 to $51.80 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Finally, KeyCorp raised their price objective on Tetra Tech from $49.00 to $56.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Tetra Tech has a consensus rating of “Moderate Buy” and a consensus target price of $50.48.

Insider Activity at Tetra Tech

In other Tetra Tech news, CFO Steven M. Burdick sold 36,830 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $46.57, for a total transaction of $1,715,173.10. Following the completion of the sale, the chief financial officer now owns 112,620 shares in the company, valued at $5,244,713.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Kimberly E. Ritrievi sold 6,500 shares of the company’s stock in a transaction 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Steven M. Burdick sold 36,830 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were 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 directly owns 112,620 shares of the company’s stock, valued at approximately $5,244,713.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety 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 Company 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.