Tetra Tech (NASDAQ:TTEK) Trading Down 4.9% – Time to Sell?

Shares of Tetra Tech, Inc. (NASDAQ:TTEK) fell 4.9% during mid-day trading on Thursday . The company traded as low as $40.16 and last traded at $39.75. 337,132 shares were traded during mid-day trading, a decline of 76% from the average session volume of 1,395,518 shares. The stock had previously closed at $41.78.

Analyst Upgrades and Downgrades

Several brokerages recently commented on TTEK. Robert W. Baird raised their target price on Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Royal Bank of Canada restated an “outperform” rating and issued a $52.00 target price on shares of Tetra Tech in a research note 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. Finally, KeyCorp cut their price objective on shares of Tetra Tech from $56.00 to $49.00 and set an “overweight” rating on the stock in a report on Friday, November 15th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.32.

Tetra Tech Stock Performance

The company has a 50-day moving average of $41.06 and a 200-day moving average of $44.30. The firm has a market capitalization of $10.28 billion, a price-to-earnings ratio of 31.14 and a beta of 0.90. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th were issued a dividend of $0.058 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $0.23 dividend on an annualized basis and a dividend yield of 0.60%. Tetra Tech’s dividend payout ratio (DPR) is 18.67%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Sarasin & Partners LLP boosted its stake in Tetra Tech by 330.9% in 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 acquiring an additional 3,801,435 shares during the period. Geode Capital Management LLC boosted its position in Tetra Tech by 406.6% during the 3rd quarter. Geode Capital Management LLC now owns 4,716,080 shares of the industrial products company’s stock valued at $222,466,000 after purchasing an additional 3,785,189 shares during the period. Allspring Global Investments Holdings LLC grew its stake 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 worth $155,601,000 after buying an additional 2,622,288 shares during the last quarter. abrdn plc increased its position in Tetra Tech by 7.6% in the fourth quarter. abrdn plc now owns 2,269,777 shares of the industrial products company’s stock worth $90,031,000 after buying an additional 159,701 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Tetra Tech by 357.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,070,483 shares of the industrial products company’s stock valued at $97,644,000 after buying an additional 1,618,211 shares during the last quarter. 93.89% of the stock is owned by institutional investors and hedge funds.

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.