Fernbridge Capital Management LP Purchases 313,584 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

Fernbridge Capital Management LP increased its position in Tetra Tech, Inc. (NASDAQ:TTEK) by 227.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 451,402 shares of the industrial products company’s stock after purchasing an additional 313,584 shares during the period. Tetra Tech accounts for 1.3% of Fernbridge Capital Management LP’s portfolio, making the stock its 22nd biggest position. Fernbridge Capital Management LP owned approximately 0.17% of Tetra Tech worth $21,288,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in TTEK. Cynosure Group LLC bought a new position in shares of Tetra Tech during the third quarter valued at approximately $365,000. Townsquare Capital LLC grew its stake in shares of Tetra Tech by 430.8% in the third quarter. Townsquare Capital LLC now owns 6,327 shares of the industrial products company’s stock worth $298,000 after acquiring an additional 5,135 shares during the last quarter. Thematics Asset Management increased its holdings in shares of Tetra Tech by 374.0% during the third quarter. Thematics Asset Management now owns 273,750 shares of the industrial products company’s stock valued at $12,910,000 after acquiring an additional 216,000 shares in the last quarter. D.A. Davidson & CO. raised its position in shares of Tetra Tech by 402.7% in the 3rd quarter. D.A. Davidson & CO. now owns 40,493 shares of the industrial products company’s stock worth $1,910,000 after purchasing an additional 32,438 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in Tetra Tech by 382.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 223,952 shares of the industrial products company’s stock worth $10,562,000 after purchasing an additional 177,529 shares in the last quarter. Institutional investors own 93.89% of the company’s stock.

Analyst Upgrades and Downgrades

TTEK has been the subject of a number of analyst reports. StockNews.com lowered shares of Tetra Tech from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. 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. KeyCorp reduced their target price on Tetra Tech from $56.00 to $49.00 and set an “overweight” rating for the company in a report on Friday, November 15th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $52.00 price objective on shares of Tetra Tech in a research report on Friday, November 15th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Tetra Tech presently has an average rating of “Moderate Buy” and an average target price of $49.32.

Insider Buying and Selling

In other news, EVP Leslie L. Shoemaker sold 78,420 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $46.11, for a total transaction of $3,615,946.20. Following the sale, the executive vice president now directly owns 296,015 shares in the company, valued at $13,649,251.65. This trade represents a 20.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Steven M. Burdick sold 36,830 shares of Tetra Tech stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $46.57, for a total transaction of $1,715,173.10. Following the transaction, the chief financial officer now owns 112,620 shares in the company, valued at approximately $5,244,713.40. This trade represents a 24.64 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 121,750 shares of company stock valued at $5,633,239. 0.61% of the stock is owned by company insiders.

Tetra Tech Price Performance

NASDAQ TTEK opened at $41.64 on Wednesday. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $11.15 billion, a P/E ratio of 33.80 and a beta of 0.94. The company has a 50-day moving average price of $46.95 and a 200-day moving average price of $44.61. Tetra Tech, Inc. has a 52 week low of $30.92 and a 52 week high of $51.20.

Tetra Tech Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th will be given a dividend of $0.058 per share. This represents a $0.23 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date is Wednesday, November 27th. Tetra Tech’s payout ratio is 18.67%.

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.