Fred Alger Management LLC Has $2.51 Million Position in Tetra Tech, Inc. (NASDAQ:TTEK)

Fred Alger Management LLC lifted its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 400.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 53,145 shares of the industrial products company’s stock after purchasing an additional 42,516 shares during the quarter. Fred Alger Management LLC’s holdings in Tetra Tech were worth $2,506,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Harbor Capital Advisors Inc. raised its holdings in Tetra Tech by 630.8% during the third quarter. Harbor Capital Advisors Inc. now owns 36,430 shares of the industrial products company’s stock valued at $1,718,000 after buying an additional 31,445 shares in the last quarter. Arkadios Wealth Advisors increased its holdings in shares of Tetra Tech by 615.8% during the 3rd quarter. Arkadios Wealth Advisors now owns 22,310 shares of the industrial products company’s stock valued at $1,052,000 after acquiring an additional 19,193 shares during the last quarter. SFE Investment Counsel raised its stake in shares of Tetra Tech by 374.8% in the 3rd quarter. SFE Investment Counsel now owns 36,330 shares of the industrial products company’s stock valued at $1,713,000 after acquiring an additional 28,679 shares in the last quarter. Caldwell Investment Management Ltd. lifted its holdings in Tetra Tech by 400.0% in the 3rd quarter. Caldwell Investment Management Ltd. now owns 46,500 shares of the industrial products company’s stock worth $2,157,000 after purchasing an additional 37,200 shares during the last quarter. Finally, Banque Cantonale Vaudoise boosted its position in Tetra Tech by 400.0% during the third quarter. Banque Cantonale Vaudoise now owns 695 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 556 shares during the period. Institutional investors own 93.89% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Robert W. Baird lifted their price target on shares of Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Royal Bank of Canada reissued an “outperform” rating and set a $52.00 target price on shares of Tetra Tech in a research report on Friday, November 15th. StockNews.com downgraded Tetra Tech from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Finally, KeyCorp cut their price objective 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. 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, Tetra Tech presently has an average rating of “Moderate Buy” and a consensus price target of $49.32.

Tetra Tech Stock Performance

NASDAQ:TTEK opened at $41.51 on Monday. The firm’s 50-day moving average is $46.58 and its 200-day moving average is $44.58. The company has a market cap of $11.11 billion, a price-to-earnings ratio of 33.69 and a beta of 0.94. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.25 and a current ratio of 1.25. Tetra Tech, Inc. has a 52-week low of $30.92 and a 52-week high of $51.20.

Tetra Tech Dividend Announcement

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 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 18.67%.

Insider Activity at Tetra Tech

In other news, Director Kimberly E. Ritrievi sold 6,500 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were 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. The trade was a 4.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Leslie L. Shoemaker sold 78,420 shares of the 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 sale, the executive vice president now owns 296,015 shares of the company’s stock, valued at $13,649,251.65. This trade represents a 20.94 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 121,750 shares of company stock worth $5,633,239. 0.61% of the stock is 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.