PNC Financial Services Group Inc. Has $1.08 Million Stock Holdings in Tetra Tech, Inc. (NASDAQ:TTEK)

PNC Financial Services Group Inc. boosted its position in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 470.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 22,982 shares of the industrial products company’s stock after purchasing an additional 18,955 shares during the period. PNC Financial Services Group Inc.’s holdings in Tetra Tech were worth $1,084,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CWM LLC boosted its holdings in shares of Tetra Tech by 20.2% in the 2nd quarter. CWM LLC now owns 304 shares of the industrial products company’s stock worth $62,000 after acquiring an additional 51 shares in the last quarter. ELCO Management Co. LLC increased its stake in shares of Tetra Tech by 4.8% in the second quarter. ELCO Management Co. LLC now owns 1,313 shares of the industrial products company’s stock valued at $268,000 after buying an additional 60 shares in the last quarter. CIBC Asset Management Inc raised its holdings in shares of Tetra Tech by 4.8% in the second quarter. CIBC Asset Management Inc now owns 1,524 shares of the industrial products company’s stock valued at $312,000 after buying an additional 70 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in Tetra Tech by 4.0% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,021 shares of the industrial products company’s stock worth $413,000 after buying an additional 77 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in Tetra Tech by 0.8% during the 2nd quarter. Victory Capital Management Inc. now owns 11,229 shares of the industrial products company’s stock worth $2,296,000 after acquiring an additional 86 shares during the last quarter. 93.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on TTEK. KeyCorp decreased their price objective on Tetra Tech from $56.00 to $49.00 and set an “overweight” rating on the stock in a research report on Friday, November 15th. StockNews.com lowered shares of Tetra Tech from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. 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, November 14th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $52.00 price objective on shares of Tetra Tech in a research note on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Tetra Tech presently has an average rating of “Moderate Buy” and a consensus target price of $49.32.

Tetra Tech Stock Performance

Shares of TTEK stock opened at $41.47 on Thursday. The stock has a market cap of $11.10 billion, a PE ratio of 33.80 and a beta of 0.94. The stock has a 50-day moving average of $46.86 and a 200-day moving average of $44.61. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.25 and a quick 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 Dividend Announcement

The company also recently announced 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. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.23 annualized dividend and a yield of 0.56%. Tetra Tech’s dividend payout ratio (DPR) is presently 18.67%.

Insider Transactions at Tetra Tech

In other news, EVP Leslie L. Shoemaker sold 78,420 shares of Tetra Tech stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $46.11, for a total transaction of $3,615,946.20. Following the transaction, the executive vice president now owns 296,015 shares in the company, valued at $13,649,251.65. The trade was a 20.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Steven M. Burdick sold 36,830 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $46.57, for a total value of $1,715,173.10. Following 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 121,750 shares of company stock valued at $5,633,239 over the last three months. 0.61% of the stock is currently owned by corporate insiders.

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.