Lazard Freres Gestion S.A.S. Reduces Holdings in Tetra Tech, Inc. (NASDAQ:TTEK)

Lazard Freres Gestion S.A.S. lessened its holdings in Tetra Tech, Inc. (NASDAQ:TTEK) by 93.1% during the 3rd quarter, Holdings Channel reports. The firm owned 12,800 shares of the industrial products company’s stock after selling 172,200 shares during the quarter. Lazard Freres Gestion S.A.S.’s holdings in Tetra Tech were worth $603,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of TTEK. Allworth Financial LP raised its position in shares of Tetra Tech by 629.3% during the 3rd quarter. Allworth Financial LP now owns 547 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 472 shares during the last quarter. LGT Financial Advisors LLC raised its holdings in shares of Tetra Tech by 400.0% in 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 acquired a new position in shares of Tetra Tech in the second quarter worth $28,000. Venturi Wealth Management LLC lifted its position in shares of Tetra Tech by 3,261.1% in the third quarter. Venturi Wealth Management LLC now owns 605 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 587 shares in the last quarter. Finally, Canton Hathaway LLC boosted its stake 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 valued at $30,000 after acquiring an additional 516 shares during the last quarter. 93.89% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Tetra Tech

In other Tetra Tech news, Director Kimberly E. Ritrievi sold 6,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $46.48, for a total transaction of $302,120.00. Following the completion of the sale, the director now directly owns 143,200 shares in the company, valued at $6,655,936. The trade was a 4.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Leslie L. Shoemaker sold 78,420 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $46.11, for a total transaction of $3,615,946.20. Following the completion of the transaction, the executive vice president now directly owns 296,015 shares in the company, valued at approximately $13,649,251.65. This represents a 20.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 121,750 shares of company stock worth $5,633,239 in the last ninety days. Insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. KeyCorp cut their target price on shares of Tetra Tech from $56.00 to $49.00 and set an “overweight” rating for the company in a research note on Friday, November 15th. Royal Bank of Canada reissued an “outperform” rating and issued a $52.00 price objective on shares of Tetra Tech in a research report on Friday, November 15th. Robert W. Baird raised their target price on shares of Tetra Tech from $46.00 to $47.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Finally, StockNews.com cut shares of Tetra Tech from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $49.32.

Tetra Tech Trading Up 2.5 %

Shares of TTEK traded up $1.02 during mid-day trading on Tuesday, hitting $42.24. The company had a trading volume of 233,361 shares, compared to its average volume of 1,497,183. Tetra Tech, Inc. has a 1-year low of $30.92 and a 1-year high of $51.20. The business’s 50-day simple moving average is $47.06 and its 200-day simple moving average is $44.62. The stock has a market cap of $11.31 billion, a PE ratio of 33.46 and a beta of 0.94. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.44.

Tetra Tech Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th will be paid a dividend of $0.058 per share. The ex-dividend date is Wednesday, November 27th. This represents a $0.23 annualized dividend and a dividend yield of 0.55%. Tetra Tech’s dividend payout ratio is presently 18.67%.

Tetra Tech 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.