Axxcess Wealth Management LLC Acquires New Holdings in Tetra Tech, Inc. (NASDAQ:TTEK)

Axxcess Wealth Management LLC acquired a new stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 4,415 shares of the industrial products company’s stock, valued at approximately $208,000.

Several other hedge funds also recently bought and sold shares of TTEK. Sarasin & Partners LLP grew its stake in 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 valued at $233,460,000 after acquiring an additional 3,801,435 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in 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 grew its stake 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 worth $98,477,000 after buying an additional 1,644,267 shares in the last quarter. Copeland Capital Management LLC grew 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 buying an additional 1,355,351 shares in the last quarter. Finally, Vontobel Holding Ltd. grew its stake in Tetra Tech by 409.4% in the 3rd quarter. Vontobel Holding Ltd. now owns 1,425,589 shares of the industrial products company’s stock worth $67,231,000 after buying an additional 1,145,738 shares in the last quarter. Hedge funds and other institutional investors own 93.89% of the company’s stock.

Tetra Tech Trading Down 13.5 %

Shares of TTEK opened at $40.96 on Friday. The firm has a market cap of $10.96 billion, a price-to-earnings ratio of 37.86 and a beta of 0.94. 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, Inc. has a fifty-two week low of $30.92 and a fifty-two week high of $51.20. The firm has a 50 day moving average price of $47.82 and a 200-day moving average price of $44.55.

Insider Transactions at Tetra Tech

In related news, Director Kimberly E. Ritrievi sold 6,500 shares of the company’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $46.48, for a total transaction of $302,120.00. Following the completion of the sale, the director now directly owns 143,200 shares in the company, valued at $6,655,936. This represents a 4.34 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Leslie L. Shoemaker sold 78,420 shares of the company’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 owns 296,015 shares of the company’s stock, valued at $13,649,251.65. This represents a 20.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 121,750 shares of company stock worth $5,633,239. 0.61% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. StockNews.com raised shares of Tetra Tech from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. KeyCorp boosted their price target on shares of Tetra Tech from $49.00 to $56.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Robert W. Baird boosted their price target on shares of Tetra Tech from $46.00 to $47.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, Royal Bank of Canada boosted their price target on shares of Tetra Tech from $46.60 to $51.80 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $50.68.

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.