Headlands Technologies LLC Purchases New Holdings in Tetra Tech, Inc. (NASDAQ:TTEK)

Headlands Technologies LLC acquired a new position in shares of Tetra Tech, Inc. (NASDAQ:TTEK) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 8,124 shares of the industrial products company’s stock, valued at approximately $324,000.

Other hedge funds have also recently bought and sold shares of the company. New England Research & Management Inc. acquired a new position in shares of Tetra Tech during the fourth quarter valued at $596,000. Nicola Wealth Management LTD. lifted its position in Tetra Tech by 36.8% during the 4th quarter. Nicola Wealth Management LTD. now owns 65,000 shares of the industrial products company’s stock valued at $2,590,000 after purchasing an additional 17,500 shares during the period. Lecap Asset Management Ltd. boosted its stake in shares of Tetra Tech by 71.3% in the 4th quarter. Lecap Asset Management Ltd. now owns 44,769 shares of the industrial products company’s stock valued at $1,784,000 after purchasing an additional 18,635 shares during the last quarter. Y Intercept Hong Kong Ltd grew its position in shares of Tetra Tech by 53.3% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 39,150 shares of the industrial products company’s stock worth $1,560,000 after buying an additional 13,606 shares during the period. Finally, Perpetual Ltd raised its stake in shares of Tetra Tech by 9.6% during the fourth quarter. Perpetual Ltd now owns 215,042 shares of the industrial products company’s stock worth $8,567,000 after buying an additional 18,842 shares during the last quarter. 93.89% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Maxim Group cut shares of Tetra Tech from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Royal Bank of Canada set a $49.00 price objective on Tetra Tech in a research note on Friday, January 31st. Finally, KeyCorp cut their target price on Tetra Tech from $49.00 to $45.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Tetra Tech has an average rating of “Moderate Buy” and an average price target of $47.92.

Tetra Tech Price Performance

TTEK opened at $29.10 on Friday. The stock has a market cap of $7.80 billion, a P/E ratio of 30.57 and a beta of 0.93. Tetra Tech, Inc. has a 12 month low of $28.17 and a 12 month high of $51.20. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.53. The company has a fifty day simple moving average of $31.02 and a 200 day simple moving average of $39.63.

Tetra Tech (NASDAQ:TTEK) last announced its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.01. Tetra Tech had a return on equity of 22.58% and a net margin of 4.81%. On average, research analysts expect that Tetra Tech, Inc. will post 1.37 EPS for the current year.

Tetra Tech Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were paid a $0.058 dividend. This represents a $0.23 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date was Wednesday, February 12th. Tetra Tech’s payout ratio is currently 24.21%.

Insider Activity

In related news, Director Kirsten M. Volpi sold 10,116 shares of the firm’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $34.33, for a total transaction of $347,282.28. Following the sale, the director now directly owns 60,196 shares in the company, valued at $2,066,528.68. This trade represents a 14.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.40% of the company’s stock.

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.