Tetra Tech, Inc. (NASDAQ:TTEK) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lifted its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 357.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,070,483 shares of the industrial products company’s stock after purchasing an additional 1,618,211 shares during the period. Charles Schwab Investment Management Inc. owned about 0.77% of Tetra Tech worth $97,644,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TTEK. Sarasin & Partners LLP raised its holdings in shares of Tetra Tech by 330.9% in 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 raised its stake 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 valued at $155,601,000 after purchasing an additional 2,622,288 shares during the last quarter. abrdn plc lifted its holdings in 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 in the last quarter. Copeland Capital Management LLC lifted 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 in the last quarter. Finally, Premier Fund Managers Ltd boosted its stake in shares of Tetra Tech by 400.0% during the 3rd quarter. Premier Fund Managers Ltd now owns 1,500,000 shares of the industrial products company’s stock worth $69,615,000 after purchasing an additional 1,200,000 shares during the last quarter. Hedge funds and other institutional investors own 93.89% of the company’s stock.

Analysts Set New Price Targets

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

Tetra Tech Stock Up 1.0 %

Shares of 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 stock has a market capitalization of $11.15 billion, a PE ratio of 33.85 and a beta of 0.94. The firm has a fifty day moving average of $46.95 and a 200-day moving average of $44.61. Tetra Tech, Inc. has a 52-week low of $30.92 and a 52-week high of $51.20.

Tetra Tech Announces Dividend

The company 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 is Wednesday, November 27th. This represents a $0.23 annualized dividend and a yield of 0.56%. Tetra Tech’s dividend payout ratio is presently 18.70%.

Insider Transactions at Tetra Tech

In related news, Director Kimberly E. Ritrievi sold 6,500 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $46.48, for a total value of $302,120.00. Following the completion of the sale, the director now directly owns 143,200 shares in the company, valued at approximately $6,655,936. This represents a 4.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Leslie L. Shoemaker sold 78,420 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $46.11, for a total value of $3,615,946.20. Following the transaction, the executive vice president now owns 296,015 shares in the company, valued at approximately $13,649,251.65. This represents a 20.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 121,750 shares of company stock worth $5,633,239 in the last three months. 0.61% of the stock is currently owned by company insiders.

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.