Arrowstreet Capital Limited Partnership Buys 34,375 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

Arrowstreet Capital Limited Partnership increased its stake in Tetra Tech, Inc. (NASDAQ:TTEK) by 11.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 342,637 shares of the industrial products company’s stock after purchasing an additional 34,375 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.13% of Tetra Tech worth $13,651,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. R Squared Ltd bought a new stake in shares of Tetra Tech in the fourth quarter valued at $39,000. Asset Planning Inc bought a new stake in Tetra Tech in the 4th quarter valued at about $40,000. Jones Financial Companies Lllp lifted its holdings in Tetra Tech by 98.0% during the fourth quarter. Jones Financial Companies Lllp now owns 1,000 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 495 shares during the last quarter. Blue Trust Inc. boosted its position in Tetra Tech by 235.8% during the fourth quarter. Blue Trust Inc. now owns 1,444 shares of the industrial products company’s stock worth $58,000 after purchasing an additional 1,014 shares during the period. Finally, Venturi Wealth Management LLC raised its position in shares of Tetra Tech by 171.7% in the fourth quarter. Venturi Wealth Management LLC now owns 1,644 shares of the industrial products company’s stock valued at $65,000 after purchasing an additional 1,039 shares during the period. Hedge funds and other institutional investors own 93.89% of the company’s stock.

Tetra Tech Price Performance

NASDAQ:TTEK opened at $29.10 on Friday. Tetra Tech, Inc. has a 52-week low of $28.17 and a 52-week high of $51.20. The stock has a fifty day moving average of $31.02 and a 200 day moving average of $39.63. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.29 and a current ratio of 1.29. The firm has a market capitalization of $7.80 billion, a price-to-earnings ratio of 30.57 and a beta of 0.93.

Tetra Tech (NASDAQ:TTEK) last issued its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. Tetra Tech had a return on equity of 22.58% and a net margin of 4.81%. On average, research analysts expect that Tetra Tech, Inc. will post 1.37 EPS for the current fiscal year.

Tetra Tech Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were issued a $0.058 dividend. This represents a $0.23 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date was Wednesday, February 12th. Tetra Tech’s payout ratio is 24.21%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Maxim Group lowered shares of Tetra Tech from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Royal Bank of Canada set a $49.00 price target on Tetra Tech in a research report on Friday, January 31st. Finally, KeyCorp cut their target price on Tetra Tech from $49.00 to $45.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $47.92.

Insider Activity

In related news, Director Kirsten M. Volpi sold 10,116 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $34.33, for a total value of $347,282.28. Following the transaction, the director now owns 60,196 shares of the company’s stock, valued at $2,066,528.68. This represents a 14.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.40% 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.