Geode Capital Management LLC Buys 13,616 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

Geode Capital Management LLC lifted its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 0.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,729,696 shares of the industrial products company’s stock after acquiring an additional 13,616 shares during the quarter. Geode Capital Management LLC owned about 1.76% of Tetra Tech worth $188,487,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. New England Research & Management Inc. bought a new stake in Tetra Tech during the fourth quarter worth approximately $596,000. Nicola Wealth Management LTD. grew its holdings in Tetra Tech by 36.8% in the 4th quarter. Nicola Wealth Management LTD. now owns 65,000 shares of the industrial products company’s stock valued at $2,590,000 after buying an additional 17,500 shares during the last quarter. Lecap Asset Management Ltd. increased its position in Tetra Tech by 71.3% in the 4th quarter. Lecap Asset Management Ltd. now owns 44,769 shares of the industrial products company’s stock worth $1,784,000 after buying an additional 18,635 shares during the period. Y Intercept Hong Kong Ltd lifted its holdings in shares of Tetra Tech by 53.3% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 39,150 shares of the industrial products company’s stock worth $1,560,000 after buying an additional 13,606 shares during the last quarter. Finally, Perpetual Ltd boosted its position in shares of Tetra Tech by 9.6% in the fourth quarter. Perpetual Ltd now owns 215,042 shares of the industrial products company’s stock valued at $8,567,000 after acquiring an additional 18,842 shares during the period. Institutional investors and hedge funds own 93.89% of the company’s stock.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other Tetra Tech news, Director Kirsten M. Volpi sold 10,116 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $34.33, for a total transaction of $347,282.28. Following the sale, the director now directly owns 60,196 shares of the company’s stock, valued at approximately $2,066,528.68. This represents a 14.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.40% of the stock is currently owned by corporate insiders.

Tetra Tech Stock Performance

NASDAQ TTEK opened at $29.10 on Monday. Tetra Tech, Inc. has a twelve month low of $28.17 and a twelve month high of $51.20. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.53. The stock has a market cap of $7.80 billion, a P/E ratio of 30.57 and a beta of 0.93. The company’s 50-day simple moving average is $31.02 and its 200 day simple moving average is $39.54.

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

Tetra Tech Dividend Announcement

The company also recently announced 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 annualized dividend and a dividend yield of 0.80%. The ex-dividend date of this dividend was Wednesday, February 12th. Tetra Tech’s payout ratio is 24.21%.

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.