Tetra Tech, Inc. (NASDAQ:TTEK) Shares Acquired by Point72 Asset Management L.P.

Point72 Asset Management L.P. grew its stake in Tetra Tech, Inc. (NASDAQ:TTEK) by 327.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,515 shares of the industrial products company’s stock after purchasing an additional 15,715 shares during the period. Point72 Asset Management L.P.’s holdings in Tetra Tech were worth $967,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Sarasin & Partners LLP grew its holdings in Tetra Tech by 330.9% in the 3rd quarter. Sarasin & Partners LLP now owns 4,950,383 shares of the industrial products company’s stock valued at $233,460,000 after buying an additional 3,801,435 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Tetra Tech by 387.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,299,418 shares of the industrial products company’s stock valued at $155,601,000 after purchasing an additional 2,622,288 shares during the period. abrdn plc grew its holdings in shares of Tetra Tech by 353.0% in the third quarter. abrdn plc now owns 2,110,076 shares of the industrial products company’s stock valued at $98,477,000 after purchasing an additional 1,644,267 shares during the period. Charles Schwab Investment Management Inc. increased its position in Tetra Tech by 357.8% during 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 purchasing an additional 1,618,211 shares during the last quarter. Finally, Copeland Capital Management LLC boosted its holdings in Tetra Tech by 289.0% in the 3rd quarter. Copeland Capital Management LLC now owns 1,824,250 shares of the industrial products company’s stock valued at $86,032,000 after purchasing an additional 1,355,351 shares during the last quarter. Institutional investors and hedge funds own 93.89% of the company’s stock.

Tetra Tech Trading Up 0.3 %

Shares of NASDAQ TTEK opened at $42.41 on Wednesday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $11.35 billion, a PE ratio of 34.42 and a beta of 0.89. Tetra Tech, Inc. has a twelve month low of $31.61 and a twelve month high of $51.20. The stock has a fifty day simple moving average of $45.96 and a 200-day simple moving average of $44.54.

Tetra Tech Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th will be paid a dividend of $0.058 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.23 dividend on an annualized basis and a yield of 0.55%. Tetra Tech’s dividend payout ratio (DPR) is presently 18.67%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on TTEK shares. Royal Bank of Canada restated an “outperform” rating and set a $52.00 price target on shares of Tetra Tech in a report on Friday, November 15th. KeyCorp cut their target price on Tetra Tech from $56.00 to $49.00 and set an “overweight” rating for the company in a research note on Friday, November 15th. StockNews.com lowered Tetra Tech from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Finally, Robert W. Baird raised their price objective on Tetra Tech from $46.00 to $47.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $49.32.

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.