Fox Run Management L.L.C. Makes New Investment in Tetra Tech, Inc. (NASDAQ:TTEK)

Fox Run Management L.L.C. acquired a new stake in Tetra Tech, Inc. (NASDAQ:TTEK) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 26,740 shares of the industrial products company’s stock, valued at approximately $1,065,000.

Several other institutional investors have also recently added to or reduced their stakes in TTEK. Amundi grew its holdings in Tetra Tech by 2.5% in the 4th quarter. Amundi now owns 4,873,176 shares of the industrial products company’s stock valued at $194,314,000 after buying an additional 117,304 shares during the period. Geode Capital Management LLC boosted its position in shares of Tetra Tech by 406.6% in the third quarter. Geode Capital Management LLC now owns 4,716,080 shares of the industrial products company’s stock worth $222,466,000 after acquiring an additional 3,785,189 shares during the last quarter. Corient Private Wealth LLC increased its position in Tetra Tech by 14.9% during the fourth quarter. Corient Private Wealth LLC now owns 2,613,259 shares of the industrial products company’s stock worth $104,112,000 after purchasing an additional 339,839 shares during the last quarter. Robeco Schweiz AG increased its position in Tetra Tech by 26.5% during the fourth quarter. Robeco Schweiz AG now owns 2,449,875 shares of the industrial products company’s stock worth $97,603,000 after purchasing an additional 512,931 shares during the last quarter. Finally, abrdn plc raised its stake 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 purchasing an additional 159,701 shares during the period. 93.89% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Tetra Tech news, Director Kirsten M. Volpi sold 10,116 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $34.33, for a total value of $347,282.28. Following the transaction, the director now owns 60,196 shares in the company, valued at $2,066,528.68. The trade was a 14.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.40% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TTEK. KeyCorp lowered their price objective 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 price target on Tetra Tech in a research report on Friday, January 31st. Finally, Maxim Group downgraded Tetra Tech from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $47.92.

Tetra Tech Trading Down 0.8 %

NASDAQ:TTEK opened at $29.04 on Friday. The business’s 50-day moving average is $33.41 and its two-hundred day moving average is $40.81. The firm has a market capitalization of $7.78 billion, a PE ratio of 30.50 and a beta of 0.93. Tetra Tech, Inc. has a 12 month low of $28.17 and a 12 month high of $51.20. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.29 and a quick ratio of 1.29.

Tetra Tech (NASDAQ:TTEK) last announced its 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%. Research analysts predict that Tetra Tech, Inc. will post 1.37 earnings per share for the current fiscal year.

Tetra Tech Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were paid a $0.058 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $0.23 annualized dividend and a dividend yield of 0.80%. Tetra Tech’s dividend payout ratio (DPR) is presently 24.21%.

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.