Glenmede Trust Co. NA Increases Stock Holdings in Tetra Tech, Inc. (NASDAQ:TTEK)

Glenmede Trust Co. NA raised its stake in Tetra Tech, Inc. (NASDAQ:TTEK) by 404.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,604 shares of the industrial products company’s stock after purchasing an additional 9,305 shares during the period. Glenmede Trust Co. NA’s holdings in Tetra Tech were worth $547,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in TTEK. Allworth Financial LP grew its position in shares of Tetra Tech by 629.3% during the third quarter. Allworth Financial LP now owns 547 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 472 shares during the last quarter. LGT Financial Advisors LLC grew its position in shares of Tetra Tech by 400.0% during the third quarter. LGT Financial Advisors LLC now owns 555 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 444 shares during the last quarter. Banque Cantonale Vaudoise purchased a new position in shares of Tetra Tech during the second quarter worth approximately $28,000. Venturi Wealth Management LLC grew its position in shares of Tetra Tech by 3,261.1% during the third quarter. Venturi Wealth Management LLC now owns 605 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 587 shares during the last quarter. Finally, Canton Hathaway LLC grew its position in shares of Tetra Tech by 400.0% during the third quarter. Canton Hathaway LLC now owns 645 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 516 shares during the last quarter. 93.89% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. KeyCorp lowered their target price on shares of Tetra Tech from $56.00 to $49.00 and set an “overweight” rating on the stock in a research report on Friday, November 15th. Royal Bank of Canada restated an “outperform” rating and set a $52.00 target price on shares of Tetra Tech in a research report on Friday, November 15th. Robert W. Baird lifted their price objective 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. Finally, StockNews.com lowered shares of Tetra Tech from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $49.32.

Tetra Tech Stock Performance

NASDAQ:TTEK opened at $42.34 on Wednesday. The firm’s fifty day moving average price is $46.38 and its 200 day moving average price is $44.58. Tetra Tech, Inc. has a 1-year low of $31.61 and a 1-year high of $51.20. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.25 and a quick ratio of 1.25. The firm has a market cap of $11.34 billion, a price-to-earnings ratio of 34.37 and a beta of 0.88.

Tetra Tech Dividend Announcement

The firm 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. This represents a $0.23 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date is Wednesday, November 27th. Tetra Tech’s dividend payout ratio (DPR) is currently 18.67%.

Insider Buying and Selling at Tetra Tech

In other Tetra Tech news, EVP Leslie L. Shoemaker sold 78,420 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $46.11, for a total value of $3,615,946.20. Following the completion of the sale, the executive vice president now owns 296,015 shares of the company’s stock, valued at approximately $13,649,251.65. This trade represents a 20.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Steven M. Burdick sold 36,830 shares of the firm’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $46.57, for a total value of $1,715,173.10. Following the completion of the sale, the chief financial officer now directly owns 112,620 shares of the company’s stock, valued at approximately $5,244,713.40. This trade represents a 24.64 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 121,750 shares of company stock valued at $5,633,239. 0.61% of the stock is owned by company insiders.

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.