Tetra Tech, Inc. (NASDAQ:TTEK) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. lowered its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 4.2% during the fourth quarter, Holdings Channel reports. The firm owned 303,578 shares of the industrial products company’s stock after selling 13,400 shares during the period. Corebridge Financial Inc.’s holdings in Tetra Tech were worth $12,095,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Oregon Public Employees Retirement Fund raised its stake in Tetra Tech by 0.7% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 54,525 shares of the industrial products company’s stock worth $2,172,000 after acquiring an additional 400 shares in the last quarter. Nordea Investment Management AB grew its holdings in shares of Tetra Tech by 0.9% during the fourth quarter. Nordea Investment Management AB now owns 45,422 shares of the industrial products company’s stock worth $1,809,000 after purchasing an additional 411 shares during the last quarter. CIBC Asset Management Inc increased its position in shares of Tetra Tech by 5.6% during the fourth quarter. CIBC Asset Management Inc now owns 8,318 shares of the industrial products company’s stock worth $331,000 after purchasing an additional 438 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Tetra Tech by 13.0% in the 4th quarter. Farther Finance Advisors LLC now owns 4,009 shares of the industrial products company’s stock valued at $160,000 after purchasing an additional 461 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted its position in shares of Tetra Tech by 98.0% in the 4th quarter. Jones Financial Companies Lllp now owns 1,000 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 495 shares during the period. Hedge funds and other institutional investors own 93.89% of the company’s stock.

Tetra Tech Price Performance

Shares of NASDAQ TTEK opened at $29.44 on Wednesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.29 and a quick ratio of 1.29. The company has a market cap of $7.89 billion, a PE ratio of 30.92 and a beta of 0.93. The stock has a fifty day moving average price of $33.16 and a 200 day moving average price of $40.68. Tetra Tech, Inc. has a 1-year low of $28.17 and a 1-year high of $51.20.

Tetra Tech (NASDAQ:TTEK) last issued its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. Tetra Tech had a net margin of 4.81% and a return on equity of 22.58%. Sell-side analysts forecast that Tetra Tech, Inc. will post 1.37 EPS for the current year.

Tetra Tech Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were issued 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 0.79%. Tetra Tech’s dividend payout ratio is currently 24.21%.

Analyst Upgrades and Downgrades

Several research analysts have commented on TTEK shares. Maxim Group lowered Tetra Tech from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. KeyCorp cut their target price on shares of Tetra Tech from $49.00 to $45.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Finally, Royal Bank of Canada set a $49.00 price target on shares of Tetra Tech in a research note on Friday, January 31st. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $47.92.

Insider Activity at Tetra Tech

In other Tetra Tech news, Director Kirsten M. Volpi sold 10,116 shares of the firm’s 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 completion of the sale, the director now 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.40% of the company’s stock.

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.