Huntington National Bank Purchases 3,588 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

Huntington National Bank grew its position in Tetra Tech, Inc. (NASDAQ:TTEK) by 431.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,420 shares of the industrial products company’s stock after buying an additional 3,588 shares during the period. Huntington National Bank’s holdings in Tetra Tech were worth $208,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in Tetra Tech by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 5,168,554 shares of the industrial products company’s stock valued at $954,684,000 after buying an additional 14,701 shares in the last quarter. Sarasin & Partners LLP grew its stake in shares of Tetra Tech by 330.9% during the third 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 during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Tetra Tech by 387.3% during 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 acquiring an additional 2,622,288 shares in the last quarter. abrdn plc raised its position in shares of Tetra Tech by 353.0% in the 3rd 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 last quarter. Finally, Copeland Capital Management LLC boosted its stake 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 worth $86,032,000 after purchasing an additional 1,355,351 shares in the last quarter. Hedge funds and other institutional investors own 93.89% of the company’s stock.

Insider Activity at Tetra Tech

In other news, Director Kimberly E. Ritrievi sold 6,500 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $46.48, for a total transaction of $302,120.00. Following the transaction, the director now owns 143,200 shares in the company, valued at $6,655,936. This trade represents a 4.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Steven M. Burdick sold 36,830 shares of the business’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $46.57, for a total transaction of $1,715,173.10. Following the completion of the sale, the chief financial officer now directly owns 112,620 shares of the company’s stock, valued at approximately $5,244,713.40. The trade was a 24.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 121,750 shares of company stock worth $5,633,239 in the last three months. Company insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

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

Tetra Tech Price Performance

NASDAQ:TTEK opened at $41.27 on Monday. The firm’s fifty day moving average is $47.60 and its two-hundred day moving average is $44.58. The firm has a market cap of $11.05 billion, a price-to-earnings ratio of 33.55 and a beta of 0.94. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.21 and a current ratio of 1.25. Tetra Tech, Inc. has a one year low of $30.92 and a one year high of $51.20.

Tetra Tech Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th will be issued a $0.058 dividend. This represents a $0.23 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend is Wednesday, November 27th. Tetra Tech’s payout ratio is presently 18.70%.

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.