5,756 Shares in Tetra Tech, Inc. (NASDAQ:TTEK) Acquired by Paloma Partners Management Co

Paloma Partners Management Co purchased a new stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 5,756 shares of the industrial products company’s stock, valued at approximately $271,000.

Other hedge funds have also modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. raised its position in shares of Tetra Tech by 779.4% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 9,146 shares of the industrial products company’s stock valued at $431,000 after purchasing an additional 8,106 shares during the period. Edgestream Partners L.P. increased its stake in Tetra Tech by 74.5% in the 3rd quarter. Edgestream Partners L.P. now owns 16,010 shares of the industrial products company’s stock worth $755,000 after buying an additional 6,835 shares in the last quarter. Progeny 3 Inc. bought a new stake in Tetra Tech during the third quarter valued at about $7,645,000. PDT Partners LLC purchased a new position in shares of Tetra Tech in the third quarter valued at about $458,000. Finally, Fred Alger Management LLC boosted its stake in Tetra Tech by 400.0% in the 3rd quarter. Fred Alger Management LLC now owns 53,145 shares of the industrial products company’s stock worth $2,506,000 after purchasing an additional 42,516 shares during the period. 93.89% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TTEK has been the topic of several research analyst reports. StockNews.com cut shares of Tetra Tech from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $52.00 target price on shares of Tetra Tech in a report on Friday, November 15th. KeyCorp dropped their price target 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. Finally, Robert W. Baird lifted their price objective on Tetra Tech from $46.00 to $47.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $49.32.

Tetra Tech Stock Up 0.3 %

Shares of NASDAQ TTEK opened at $42.94 on Friday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.44. Tetra Tech, Inc. has a 12-month low of $31.61 and a 12-month high of $51.20. The firm’s 50-day moving average price is $46.22 and its 200-day moving average price is $44.57. The stock has a market capitalization of $11.50 billion, a price-to-earnings ratio of 34.85 and a beta of 0.88.

Tetra Tech Dividend Announcement

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 given 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 0.54%. Tetra Tech’s dividend payout ratio (DPR) is presently 18.67%.

Insider Activity

In related news, EVP Leslie L. Shoemaker sold 78,420 shares of Tetra Tech 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 transaction, the executive vice president now directly owns 296,015 shares of the company’s stock, valued at approximately $13,649,251.65. The trade was a 20.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kimberly E. Ritrievi sold 6,500 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $46.48, for a total transaction of $302,120.00. Following the transaction, the director now owns 143,200 shares in the company, valued at $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 ninety days. Insiders own 0.61% of the company’s stock.

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.