Tetra Tech, Inc. (NASDAQ:TTEK) Shares Acquired by VELA Investment Management LLC

VELA Investment Management LLC boosted its position in Tetra Tech, Inc. (NASDAQ:TTEK) by 6.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,538 shares of the industrial products company’s stock after purchasing an additional 4,028 shares during the period. VELA Investment Management LLC’s holdings in Tetra Tech were worth $2,492,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Robeco Schweiz AG increased its position in shares of Tetra Tech by 26.5% in the fourth quarter. Robeco Schweiz AG now owns 2,449,875 shares of the industrial products company’s stock valued at $97,603,000 after buying an additional 512,931 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in Tetra Tech by 0.7% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 54,525 shares of the industrial products company’s stock valued at $2,172,000 after acquiring an additional 400 shares during the last quarter. Impact Investors Inc purchased a new position in Tetra Tech during the 4th quarter valued at about $265,000. Amalgamated Bank raised its position in Tetra Tech by 0.5% during the fourth quarter. Amalgamated Bank now owns 128,881 shares of the industrial products company’s stock worth $5,135,000 after acquiring an additional 579 shares during the last quarter. Finally, Impax Asset Management Group plc lifted its holdings in shares of Tetra Tech by 51.4% in the fourth quarter. Impax Asset Management Group plc now owns 23,754 shares of the industrial products company’s stock valued at $946,000 after purchasing an additional 8,064 shares in the last quarter. 93.89% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Royal Bank of Canada set a $49.00 price objective on shares of Tetra Tech in a research note on Friday, January 31st. KeyCorp dropped their price target on Tetra Tech from $49.00 to $45.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Robert W. Baird upped their price objective on Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Maxim Group lowered Tetra Tech from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Finally, StockNews.com downgraded shares of Tetra Tech from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Tetra Tech presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.92.

Tetra Tech Price Performance

Shares of NASDAQ:TTEK opened at $29.71 on Friday. The business has a fifty day simple moving average of $37.05 and a 200-day simple moving average of $42.83. Tetra Tech, Inc. has a 52 week low of $29.20 and a 52 week high of $51.20. The company has a market cap of $7.96 billion, a P/E ratio of 31.21 and a beta of 0.89. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.53.

Tetra Tech (NASDAQ:TTEK) last posted its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $0.35 EPS 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%. Equities research analysts forecast that Tetra Tech, Inc. will post 1.37 EPS for the current year.

Tetra Tech Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were paid a dividend of $0.058 per share. This represents a $0.23 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date of this dividend was Wednesday, February 12th. Tetra Tech’s dividend payout ratio is currently 24.21%.

Insider Buying and Selling at Tetra Tech

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 directly owns 60,196 shares of the company’s stock, valued at approximately $2,066,528.68. This trade represents a 14.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.40% of the stock is owned by company insiders.

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.