Thematics Asset Management Acquires 216,000 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

Thematics Asset Management increased its holdings in Tetra Tech, Inc. (NASDAQ:TTEK) by 374.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 273,750 shares of the industrial products company’s stock after acquiring an additional 216,000 shares during the quarter. Thematics Asset Management’s holdings in Tetra Tech were worth $12,910,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in TTEK. Sarasin & Partners LLP increased its position in shares of Tetra Tech by 330.9% during the third quarter. Sarasin & Partners LLP now owns 4,950,383 shares of the industrial products company’s stock valued at $233,460,000 after buying an additional 3,801,435 shares during the period. Allspring Global Investments Holdings LLC boosted 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 valued at $155,601,000 after acquiring an additional 2,622,288 shares in the last quarter. abrdn plc grew its holdings 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 acquiring an additional 1,644,267 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Tetra Tech by 357.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,070,483 shares of the industrial products company’s stock worth $97,644,000 after acquiring an additional 1,618,211 shares in the last quarter. Finally, Copeland Capital Management LLC grew its stake 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 worth $86,032,000 after purchasing an additional 1,355,351 shares during the period. Institutional investors own 93.89% of the company’s stock.

Insider Activity at Tetra Tech

In other news, EVP Leslie L. Shoemaker sold 78,420 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $46.11, for a total transaction of $3,615,946.20. Following the completion of the sale, the executive vice president now owns 296,015 shares of the company’s stock, valued at $13,649,251.65. This represents a 20.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Steven M. Burdick sold 36,830 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 112,620 shares of the company’s stock, valued at $5,244,713.40. This trade represents a 24.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 121,750 shares of company stock worth $5,633,239 over the last quarter. Company insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

TTEK has been the topic of a number of research reports. 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. StockNews.com lowered shares of Tetra Tech from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Robert W. Baird increased their target price on Tetra Tech from $46.00 to $47.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Finally, KeyCorp lowered 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. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $49.32.

Tetra Tech Stock Performance

Shares of NASDAQ:TTEK traded up $0.62 during midday trading on Tuesday, reaching $41.84. 372,987 shares of the company’s stock traded hands, compared to its average volume of 1,498,148. Tetra Tech, Inc. has a one year low of $30.92 and a one year high of $51.20. The stock has a 50 day moving average of $47.06 and a 200 day moving average of $44.62. The company has a market cap of $11.20 billion, a price-to-earnings ratio of 33.46 and a beta of 0.94. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.25 and a current ratio of 1.25.

Tetra Tech Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th will be issued a dividend of $0.058 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.23 annualized dividend and a dividend yield of 0.55%. Tetra Tech’s payout ratio is 18.67%.

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.