Advisors Asset Management Inc. Grows Holdings in Tetra Tech, Inc. (NASDAQ:TTEK)

Advisors Asset Management Inc. grew its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 431.2% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 84,174 shares of the industrial products company’s stock after buying an additional 68,327 shares during the period. Advisors Asset Management Inc.’s holdings in Tetra Tech were worth $3,970,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. CWM LLC raised its position in 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 purchasing an additional 51 shares in the last quarter. ELCO Management Co. LLC raised its holdings in shares of Tetra Tech by 4.8% during the 2nd quarter. ELCO Management Co. LLC now owns 1,313 shares of the industrial products company’s stock valued at $268,000 after buying an additional 60 shares in the last quarter. CIBC Asset Management Inc lifted its position in Tetra Tech by 4.8% in the 2nd quarter. CIBC Asset Management Inc now owns 1,524 shares of the industrial products company’s stock worth $312,000 after buying an additional 70 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake 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 worth $413,000 after buying an additional 77 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in 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 valued at $2,296,000 after acquiring an additional 86 shares during the last quarter. 93.89% of the stock is owned by institutional investors.

Insider Buying and Selling at Tetra Tech

In related news, CFO Steven M. Burdick sold 36,830 shares of the business’s stock in a transaction dated 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 owns 112,620 shares in the company, valued at $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 available through this hyperlink. Also, Director Kimberly E. Ritrievi sold 6,500 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $6,655,936. The trade was a 4.34 % decrease in their ownership of the stock. 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. Insiders own 0.61% of the company’s stock.

Tetra Tech Price Performance

TTEK stock opened at $40.96 on Friday. The stock has a market capitalization of $10.96 billion, a price-to-earnings ratio of 33.25 and a beta of 0.94. The firm’s 50-day moving average price is $47.17 and its two-hundred day moving average price is $44.62. 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 Announces Dividend

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

Analyst Upgrades and Downgrades

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

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.