Union Bancaire Privee UBP SA Invests $4.46 Million in Tetra Tech, Inc. (NASDAQ:TTEK)

Union Bancaire Privee UBP SA bought a new position in shares of Tetra Tech, Inc. (NASDAQ:TTEK) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 112,039 shares of the industrial products company’s stock, valued at approximately $4,463,000.

Several other hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC raised its position in shares of 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 worth $222,466,000 after purchasing an additional 3,785,189 shares during the last quarter. abrdn plc increased its position in Tetra Tech by 7.6% during 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 in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of 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 worth $97,644,000 after acquiring an additional 1,618,211 shares during the last quarter. Premier Fund Managers Ltd lifted its position in shares of Tetra Tech by 400.0% in the third quarter. Premier Fund Managers Ltd now owns 1,500,000 shares of the industrial products company’s stock valued at $69,615,000 after acquiring an additional 1,200,000 shares in the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc boosted its stake in shares of Tetra Tech by 337.0% during the third quarter. AEGON ASSET MANAGEMENT UK Plc now owns 1,466,385 shares of the industrial products company’s stock valued at $69,081,000 after acquiring an additional 1,130,842 shares during the last quarter. 93.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on TTEK shares. StockNews.com downgraded Tetra Tech from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Maxim Group cut shares of Tetra Tech from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. KeyCorp lowered 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. Royal Bank of Canada set a $49.00 price target on shares of Tetra Tech in a report on Friday, January 31st. Finally, Robert W. Baird upped their target price on Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $47.92.

Tetra Tech Stock Performance

Shares of NASDAQ TTEK opened at $29.93 on Friday. 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 firm’s 50-day moving average price is $37.73 and its two-hundred day moving average price is $43.15. Tetra Tech, Inc. has a 52-week low of $29.23 and a 52-week high of $51.20. The stock has a market capitalization of $8.02 billion, a P/E ratio of 31.44 and a beta of 0.89.

Tetra Tech (NASDAQ:TTEK) last announced its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $0.35 earnings per share (EPS) for the quarter, topping 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, sell-side analysts forecast that Tetra Tech, Inc. will post 1.37 earnings per share for the current year.

Tetra Tech Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th will be given a dividend of $0.058 per share. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $0.23 annualized dividend and a dividend yield of 0.78%. Tetra Tech’s dividend payout ratio is currently 24.16%.

Insider Buying and Selling

In related news, Director Kirsten M. Volpi sold 10,116 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 60,196 shares of the company’s stock, valued at $2,066,528.68. This represents a 14.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.40% of the company’s stock.

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.