Tetra Tech, Inc. $TTEK Stock Purchased by Renaissance Investment Group LLC

Renaissance Investment Group LLC boosted its stake in Tetra Tech, Inc. (NASDAQ:TTEK) by 4.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 306,986 shares of the industrial products company’s stock after purchasing an additional 13,145 shares during the period. Tetra Tech comprises approximately 2.1% of Renaissance Investment Group LLC’s portfolio, making the stock its 23rd largest position. Renaissance Investment Group LLC’s holdings in Tetra Tech were worth $10,115,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in TTEK. Asset Management One Co. Ltd. raised its stake in shares of Tetra Tech by 4.7% in the third quarter. Asset Management One Co. Ltd. now owns 91,186 shares of the industrial products company’s stock valued at $3,005,000 after acquiring an additional 4,075 shares in the last quarter. Signaturefd LLC grew its position in shares of Tetra Tech by 65.0% during the third quarter. Signaturefd LLC now owns 1,990 shares of the industrial products company’s stock worth $66,000 after acquiring an additional 784 shares during the last quarter. Citizens Financial Group Inc. RI acquired a new stake in shares of Tetra Tech during the third quarter worth about $381,000. Evergreen Capital Management LLC raised its stake in Tetra Tech by 8.7% during the 3rd quarter. Evergreen Capital Management LLC now owns 14,942 shares of the industrial products company’s stock valued at $492,000 after acquiring an additional 1,190 shares during the last quarter. Finally, Inspire Investing LLC raised its stake in Tetra Tech by 73.3% during the 3rd quarter. Inspire Investing LLC now owns 25,932 shares of the industrial products company’s stock valued at $854,000 after acquiring an additional 10,966 shares during the last quarter. Institutional investors and hedge funds own 93.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on TTEK shares. Royal Bank Of Canada lowered their target price on Tetra Tech from $46.00 to $44.00 and set an “outperform” rating on the stock in a research note on Thursday, October 15th. Weiss Ratings upgraded Tetra Tech from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday. KeyCorp reaffirmed an “overweight” rating and set a $41.00 price target (down from $43.00) on shares of Tetra Tech in a report on Thursday, October 15th. Wall Street Zen downgraded Tetra Tech from a “buy” rating to a “hold” rating in a report on Saturday, October 17th. Finally, Robert W. Baird set a $37.00 price objective on shares of Tetra Tech in a research report on Thursday, July 30th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Tetra Tech presently has an average rating of “Moderate Buy” and a consensus price target of $39.00.

Tetra Tech Trading Up 1.5%

Shares of TTEK opened at $38.65 on Friday. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.43. The firm’s 50-day moving average is $35.38 and its two-hundred day moving average is $33.12. Tetra Tech, Inc. has a twelve month low of $25.81 and a twelve month high of $43.14. The firm has a market capitalization of $9.90 billion, a P/E ratio of 24.42 and a beta of 0.95.

Tetra Tech (NASDAQ:TTEK) last posted its quarterly earnings results on Wednesday, July 29th. The industrial products company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.02. Tetra Tech had a net margin of 8.60% and a return on equity of 22.32%. The company had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period last year, the firm earned $0.43 EPS. The company’s revenue for the quarter was down 4.4% on a year-over-year basis. On average, research analysts predict that Tetra Tech, Inc. will post 1.58 earnings per share for the current fiscal year.

About Tetra Tech

Tetra Tech, Inc (NASDAQ:TTEK) is a consulting and engineering services company that helps government and commercial clients address complex challenges involving water, environmental resources, infrastructure and energy. Its work includes planning, design, engineering, program management, construction management and technical consulting.

The company provides services related to water supply and treatment, environmental remediation, climate and disaster resilience, sustainable infrastructure, energy development, high-performance buildings and natural resource management.