Tetra Tech, Inc. (NASDAQ:TTEK) Stake Raised by Swiss National Bank

Swiss National Bank raised its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 396.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 522,500 shares of the industrial products company’s stock after buying an additional 417,300 shares during the period. Swiss National Bank owned about 0.20% of Tetra Tech worth $24,641,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Sarasin & Partners LLP increased its position 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 worth $233,460,000 after buying an additional 3,801,435 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position 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 worth $155,601,000 after buying an additional 2,622,288 shares during the period. abrdn plc raised its stake in Tetra Tech by 353.0% during 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. Copeland Capital Management LLC raised its position in shares of Tetra Tech by 289.0% during the third quarter. Copeland Capital Management LLC now owns 1,824,250 shares of the industrial products company’s stock valued at $86,032,000 after buying an additional 1,355,351 shares during the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc grew its position in Tetra Tech by 337.0% during the third quarter. AEGON ASSET MANAGEMENT UK Plc now owns 1,466,385 shares of the industrial products company’s stock worth $69,081,000 after buying an additional 1,130,842 shares in the last quarter. Institutional investors and hedge funds own 93.89% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on TTEK shares. StockNews.com cut Tetra Tech from a “buy” rating to a “hold” rating in a report on Friday, November 15th. KeyCorp reduced their target price on Tetra Tech from $56.00 to $49.00 and set an “overweight” rating for the company in a research report 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 company a “neutral” rating in a report on Thursday, November 14th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $52.00 price objective on shares of Tetra Tech in a report on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $49.32.

Tetra Tech Stock Performance

Shares of NASDAQ:TTEK opened at $40.79 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.25 and a quick ratio of 1.21. The business’s fifty day moving average price is $47.27 and its two-hundred day moving average price is $44.63. Tetra Tech, Inc. has a fifty-two week low of $30.92 and a fifty-two week high of $51.20. The stock has a market capitalization of $10.92 billion, a price-to-earnings ratio of 33.16 and a beta of 0.94.

Tetra Tech Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be given a dividend of $0.058 per share. This represents a $0.23 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend is Wednesday, November 27th. Tetra Tech’s dividend payout ratio (DPR) is currently 18.70%.

Insider Activity at Tetra Tech

In other news, EVP Leslie L. Shoemaker sold 78,420 shares of Tetra Tech stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $46.11, for a total value of $3,615,946.20. Following the completion of the transaction, the executive vice president now owns 296,015 shares in the company, valued at approximately $13,649,251.65. The trade was a 20.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 value of $302,120.00. Following the sale, the director now owns 143,200 shares in the company, valued at approximately $6,655,936. This trade represents a 4.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 121,750 shares of company stock valued at $5,633,239 in the last ninety days. Insiders own 0.61% 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.