Fortress Financial Solutions LLC Takes Position in Tetra Tech, Inc. (NASDAQ:TTEK)

Fortress Financial Solutions LLC bought a new position in Tetra Tech, Inc. (NASDAQ:TTEK) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,038 shares of the industrial products company’s stock, valued at approximately $280,000.

A number of other institutional investors have also recently bought and sold shares of TTEK. Allworth Financial LP raised its stake in 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 purchasing an additional 472 shares during the period. LGT Financial Advisors LLC increased its holdings in shares of Tetra Tech by 400.0% during the 3rd quarter. LGT Financial Advisors LLC now owns 555 shares of the industrial products company’s stock worth $26,000 after buying an additional 444 shares during the last quarter. Venturi Wealth Management LLC raised its position in shares of Tetra Tech by 3,261.1% in the 3rd quarter. Venturi Wealth Management LLC now owns 605 shares of the industrial products company’s stock worth $29,000 after buying an additional 587 shares during the period. Canton Hathaway LLC boosted its holdings in Tetra Tech by 400.0% in 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. Finally, Banque Cantonale Vaudoise grew 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 valued at $33,000 after acquiring an additional 556 shares during the period. 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 commented on the company. Maxim Group downgraded Tetra Tech from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. StockNews.com lowered shares of Tetra Tech from a “buy” rating to a “hold” rating in a report on Friday, November 15th. KeyCorp decreased their price objective 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. Royal Bank of Canada reissued an “outperform” rating and issued a $52.00 target price on shares of Tetra Tech in a research note on Friday, November 15th. Finally, Robert W. Baird lifted their target price 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. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $48.52.

Tetra Tech Stock Down 2.9 %

Shares of NASDAQ:TTEK opened at $32.25 on Wednesday. The company has a market capitalization of $8.64 billion, a price-to-earnings ratio of 33.88 and a beta of 0.89. The company has a 50 day moving average of $39.63 and a two-hundred day moving average of $43.85. Tetra Tech, Inc. has a 52-week low of $31.09 and a 52-week high of $51.20. The company has a quick ratio of 1.25, a current ratio of 1.29 and a debt-to-equity ratio of 0.53.

Tetra Tech (NASDAQ:TTEK) last announced 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%. As a group, analysts forecast that Tetra Tech, Inc. will post 1.37 earnings per share for the current fiscal year.

Tetra Tech Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th 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 0.72%. The ex-dividend date of this dividend is Wednesday, February 12th. Tetra Tech’s payout ratio is 24.16%.

Insider Buying and Selling

In other news, Director Kirsten M. Volpi sold 10,116 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director now owns 60,196 shares of the company’s stock, valued at approximately $2,066,528.68. This trade represents a 14.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.40% of the company’s stock.

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.