King Luther Capital Management Corp Boosts Stock Holdings in Tetra Tech, Inc. (NASDAQ:TTEK)

King Luther Capital Management Corp boosted its holdings in Tetra Tech, Inc. (NASDAQ:TTEK) by 324.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,278,295 shares of the industrial products company’s stock after buying an additional 976,810 shares during the quarter. King Luther Capital Management Corp owned approximately 0.48% of Tetra Tech worth $50,927,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Amundi boosted its stake in shares of Tetra Tech by 2.5% during the fourth quarter. Amundi now owns 4,873,176 shares of the industrial products company’s stock worth $194,314,000 after buying an additional 117,304 shares during the period. Geode Capital Management LLC increased its stake in shares of Tetra Tech by 406.6% during the 3rd quarter. Geode Capital Management LLC now owns 4,716,080 shares of the industrial products company’s stock worth $222,466,000 after purchasing an additional 3,785,189 shares in the last quarter. Robeco Schweiz AG increased its stake in shares of Tetra Tech by 26.5% during the 4th quarter. Robeco Schweiz AG now owns 2,449,875 shares of the industrial products company’s stock worth $97,603,000 after purchasing an additional 512,931 shares in the last quarter. abrdn plc increased its stake in shares of Tetra Tech by 7.6% during the 4th quarter. abrdn plc now owns 2,269,777 shares of the industrial products company’s stock worth $90,031,000 after purchasing an additional 159,701 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Tetra Tech by 0.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,081,839 shares of the industrial products company’s stock worth $82,940,000 after acquiring an additional 11,356 shares during the period. Hedge funds and other institutional investors own 93.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on TTEK shares. Royal Bank of Canada set a $49.00 price target on shares of Tetra Tech in a report on Friday, January 31st. Maxim Group downgraded shares of Tetra Tech from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. StockNews.com downgraded shares of Tetra Tech from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. KeyCorp reduced their target price on shares of Tetra Tech from $49.00 to $45.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Finally, Robert W. Baird boosted their target price on shares of Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $47.92.

Insider Activity

In other Tetra Tech news, Director Kirsten M. Volpi sold 10,116 shares of the company’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 of the company’s stock, valued at approximately $2,066,528.68. This represents a 14.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.40% of the company’s stock.

Tetra Tech Stock Performance

NASDAQ:TTEK opened at $30.01 on Tuesday. Tetra Tech, Inc. has a 1 year low of $28.17 and a 1 year high of $51.20. The firm’s fifty day simple moving average is $35.52 and its 200 day simple moving average is $42.03. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $8.04 billion, a PE ratio of 31.52 and a beta of 0.93.

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

Tetra Tech Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were issued a dividend of $0.058 per share. This represents a $0.23 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date was Wednesday, February 12th. Tetra Tech’s dividend payout ratio is currently 24.21%.

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.