DekaBank Deutsche Girozentrale Cuts Stock Position in Tetra Tech, Inc. (NASDAQ:TTEK)

DekaBank Deutsche Girozentrale trimmed its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 1.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 279,017 shares of the industrial products company’s stock after selling 2,826 shares during the period. DekaBank Deutsche Girozentrale owned 0.52% of Tetra Tech worth $12,827,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Tetra Tech by 0.3% in the first quarter. Vanguard Group Inc. now owns 5,168,554 shares of the industrial products company’s stock worth $954,684,000 after buying an additional 14,701 shares during the period. Sarasin & Partners LLP lifted its position in Tetra Tech by 330.9% during the 3rd quarter. Sarasin & Partners LLP now owns 4,950,383 shares of the industrial products company’s stock worth $233,460,000 after acquiring an additional 3,801,435 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Tetra Tech by 387.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,299,418 shares of the industrial products company’s stock worth $155,601,000 after acquiring an additional 2,622,288 shares during the period. Copeland Capital Management LLC raised its stake in shares of Tetra Tech by 289.0% during the third 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 period. Finally, Vontobel Holding Ltd. lifted its position in shares of Tetra Tech by 409.4% during the third quarter. Vontobel Holding Ltd. now owns 1,425,589 shares of the industrial products company’s stock worth $67,231,000 after purchasing an additional 1,145,738 shares in the last quarter. 93.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TTEK. Royal Bank of Canada raised their price target on shares of Tetra Tech from $46.60 to $51.80 and gave the company an “outperform” rating in a report on Friday, August 2nd. StockNews.com raised Tetra Tech from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. KeyCorp increased their price target on Tetra Tech from $49.00 to $56.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Finally, Robert W. Baird lifted their price objective on Tetra Tech from $44.60 to $46.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.48.

Insider Activity at Tetra Tech

In other Tetra Tech news, 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 value of $1,715,173.10. Following the completion of the transaction, the chief financial officer now owns 112,620 shares of the company’s stock, valued at $5,244,713.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, CEO Dan L. Batrack sold 89,620 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $45.54, for a total transaction of $4,081,653.28. Following the completion of the transaction, the chief executive officer now directly owns 124,380 shares of the company’s stock, valued at approximately $5,664,762.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Steven M. Burdick sold 36,830 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $46.57, for a total value of $1,715,173.10. Following the transaction, the chief financial officer now owns 112,620 shares of the company’s stock, valued at $5,244,713.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 236,370 shares of company stock valued at $10,880,243. Corporate insiders own 0.61% of the company’s stock.

Tetra Tech Stock Performance

Shares of TTEK stock opened at $50.52 on Wednesday. The stock has a market capitalization of $2.70 billion, a price-to-earnings ratio of 10.23 and a beta of 0.94. Tetra Tech, Inc. has a one year low of $29.09 and a one year high of $50.69. The company’s 50-day simple moving average is $47.45 and its 200-day simple moving average is $43.66. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.21 and a current ratio of 1.21.

Tetra Tech (NASDAQ:TTEK) last released its earnings results on Wednesday, July 31st. The industrial products company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. Tetra Tech had a return on equity of 21.50% and a net margin of 5.72%. The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter last year, the business posted $0.26 EPS. Tetra Tech’s quarterly revenue was up 10.7% compared to the same quarter last year. Equities analysts anticipate that Tetra Tech, Inc. will post 1.25 earnings per share for the current fiscal year.

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.