Nicola Wealth Management LTD. Increases Stake in Tetra Tech, Inc. (NASDAQ:TTEK)

Nicola Wealth Management LTD. raised its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 533.3% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 47,500 shares of the industrial products company’s stock after acquiring an additional 40,000 shares during the period. Nicola Wealth Management LTD.’s holdings in Tetra Tech were worth $2,240,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Sarasin & Partners LLP grew its holdings in Tetra Tech by 330.9% during the 3rd 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 in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Tetra Tech by 387.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,299,418 shares of the industrial products company’s stock worth $155,601,000 after acquiring an additional 2,622,288 shares during the period. abrdn plc lifted its position in shares of Tetra Tech by 353.0% during the third quarter. abrdn plc now owns 2,110,076 shares of the industrial products company’s stock valued at $98,477,000 after buying an additional 1,644,267 shares during the last quarter. Copeland Capital Management LLC increased its holdings in shares of Tetra Tech by 289.0% during the third quarter. Copeland Capital Management LLC now owns 1,824,250 shares of the industrial products company’s stock valued at $86,032,000 after acquiring an additional 1,355,351 shares in the last quarter. Finally, Vontobel Holding Ltd. increased its holdings in shares of Tetra Tech by 409.4% during the third quarter. Vontobel Holding Ltd. now owns 1,425,589 shares of the industrial products company’s stock valued at $67,231,000 after acquiring an additional 1,145,738 shares in the last quarter. Institutional investors own 93.89% of the company’s stock.

Tetra Tech Stock Performance

NASDAQ:TTEK traded down $4.73 during trading hours on Thursday, reaching $42.62. 2,948,020 shares of the stock were exchanged, compared to its average volume of 1,411,683. The stock has a market capitalization of $11.41 billion, a P/E ratio of 40.50 and a beta of 0.94. Tetra Tech, Inc. has a 52 week low of $30.92 and a 52 week high of $51.20. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.52. The firm has a 50 day simple moving average of $47.82 and a 200-day simple moving average of $44.55.

Wall Street Analyst Weigh In

Several equities research analysts have commented on TTEK shares. StockNews.com upgraded Tetra Tech from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Robert W. Baird raised their price objective on Tetra Tech from $46.00 to $47.00 and gave the stock a “neutral” rating in a research report on Thursday. Royal Bank of Canada lifted their target price on Tetra Tech from $46.60 to $51.80 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Finally, KeyCorp lifted their price objective on Tetra Tech from $49.00 to $56.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Tetra Tech has a consensus rating of “Moderate Buy” and an average price target of $50.68.

Insider Activity

In other news, EVP Leslie L. Shoemaker sold 78,420 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $46.11, for a total value 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 trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, Director Kimberly E. Ritrievi sold 6,500 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $46.48, for a total transaction of $302,120.00. Following the sale, the director now directly owns 143,200 shares in the company, valued at $6,655,936. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Leslie L. Shoemaker sold 78,420 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $46.11, for a total value of $3,615,946.20. Following the completion of the transaction, the executive vice president now owns 296,015 shares in the company, valued at $13,649,251.65. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 121,750 shares of company stock worth $5,633,239. 0.61% of the stock is owned by company insiders.

Tetra Tech Company 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.