Tetra Tech, Inc. (NASDAQ:TTEK) Position Boosted by King Luther Capital Management Corp

King Luther Capital Management Corp lifted its position in Tetra Tech, Inc. (NASDAQ:TTEK) by 662.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 301,485 shares of the industrial products company’s stock after buying an additional 261,951 shares during the quarter. King Luther Capital Management Corp’s holdings in Tetra Tech were worth $14,218,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of TTEK. CWM LLC raised its position in shares of Tetra Tech by 20.2% during the second quarter. CWM LLC now owns 304 shares of the industrial products company’s stock valued at $62,000 after buying an additional 51 shares during the last quarter. ELCO Management Co. LLC raised its position in Tetra Tech by 4.8% in the 2nd quarter. ELCO Management Co. LLC now owns 1,313 shares of the industrial products company’s stock worth $268,000 after purchasing an additional 60 shares during the last quarter. CIBC Asset Management Inc increased its position in Tetra Tech by 4.8% in the second quarter. CIBC Asset Management Inc now owns 1,524 shares of the industrial products company’s stock worth $312,000 after purchasing an additional 70 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in Tetra Tech by 4.0% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,021 shares of the industrial products company’s stock valued at $413,000 after buying an additional 77 shares during the period. Finally, Victory Capital Management Inc. grew its stake in shares of Tetra Tech by 0.8% during the second quarter. Victory Capital Management Inc. now owns 11,229 shares of the industrial products company’s stock worth $2,296,000 after purchasing an additional 86 shares during the period. 93.89% of the stock is currently owned by institutional investors.

Tetra Tech Stock Up 1.4 %

Shares of TTEK opened at $40.79 on Friday. The company has a market capitalization of $10.92 billion, a PE ratio of 33.16 and a beta of 0.94. The stock’s 50-day moving average price is $47.27 and its two-hundred day moving average price is $44.63. The company has a current ratio of 1.25, a quick ratio of 1.21 and a debt-to-equity ratio of 0.44. Tetra Tech, Inc. has a 12 month low of $30.92 and a 12 month high of $51.20.

Tetra Tech Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th will be paid 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 of this dividend is Wednesday, November 27th. Tetra Tech’s dividend payout ratio is currently 18.70%.

Analysts Set New Price Targets

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

Insider Transactions at Tetra Tech

In other news, Director Kimberly E. Ritrievi sold 6,500 shares of Tetra Tech stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $46.48, for a total value of $302,120.00. Following the completion of the sale, the director now owns 143,200 shares in the company, valued at $6,655,936. The trade was a 4.34 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Leslie L. Shoemaker sold 78,420 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $46.11, for a total transaction of $3,615,946.20. Following the transaction, the executive vice president now directly owns 296,015 shares in the company, valued at approximately $13,649,251.65. This represents a 20.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 121,750 shares of company stock worth $5,633,239 over the last three months. 0.61% of the stock is owned by company insiders.

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.