First Horizon Advisors Inc. Raises Position in Tetra Tech, Inc. (NASDAQ:TTEK)

First Horizon Advisors Inc. boosted its position in Tetra Tech, Inc. (NASDAQ:TTEK) by 414.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,965 shares of the industrial products company’s stock after purchasing an additional 1,583 shares during the period. First Horizon Advisors Inc.’s holdings in Tetra Tech were worth $93,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in TTEK. Sarasin & Partners LLP raised its stake in shares of Tetra Tech by 330.9% during the 3rd quarter. Sarasin & Partners LLP now owns 4,950,383 shares of the industrial products company’s stock worth $233,460,000 after buying an additional 3,801,435 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in Tetra Tech by 387.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,299,418 shares of the industrial products company’s stock worth $155,601,000 after acquiring an additional 2,622,288 shares in the last quarter. abrdn plc boosted its position in shares of Tetra Tech by 353.0% during the 3rd quarter. abrdn plc now owns 2,110,076 shares of the industrial products company’s stock worth $98,477,000 after purchasing an additional 1,644,267 shares in the last quarter. Copeland Capital Management LLC grew its stake in shares of Tetra Tech by 289.0% during the 3rd quarter. Copeland Capital Management LLC now owns 1,824,250 shares of the industrial products company’s stock worth $86,032,000 after purchasing an additional 1,355,351 shares during the period. Finally, Premier Fund Managers Ltd increased its holdings in shares of Tetra Tech by 400.0% in the 3rd quarter. Premier Fund Managers Ltd now owns 1,500,000 shares of the industrial products company’s stock valued at $69,615,000 after purchasing an additional 1,200,000 shares in the last quarter. Hedge funds and other institutional investors own 93.89% of the company’s stock.

Insider Buying and Selling at Tetra Tech

In other news, CFO Steven M. Burdick sold 36,830 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $46.57, for a total transaction of $1,715,173.10. Following the sale, the chief financial officer now owns 112,620 shares in the company, valued at $5,244,713.40. This trade represents a 24.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kimberly E. Ritrievi sold 6,500 shares of the company’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $46.48, for a total value of $302,120.00. Following the completion of the transaction, the director now owns 143,200 shares of the company’s stock, valued at $6,655,936. The trade was a 4.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 121,750 shares of company stock worth $5,633,239. Corporate insiders own 0.61% of the company’s stock.

Tetra Tech Price Performance

Shares of NASDAQ:TTEK opened at $40.96 on Friday. Tetra Tech, Inc. has a one year low of $30.92 and a one year high of $51.20. The stock has a market cap of $10.97 billion, a PE ratio of 33.25 and a beta of 0.94. The business’s fifty day moving average price is $47.06 and its two-hundred day moving average price is $44.62. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.21 and a current ratio of 1.25.

Tetra Tech Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be paid a $0.058 dividend. This represents a $0.23 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend is Wednesday, November 27th. Tetra Tech’s payout ratio is 18.67%.

Analysts Set New Price Targets

Several research analysts have weighed in on TTEK shares. Robert W. Baird upped 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. KeyCorp dropped their price objective on Tetra Tech from $56.00 to $49.00 and set an “overweight” rating for the company in a research note on Friday, November 15th. StockNews.com downgraded Tetra Tech from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $52.00 price target on shares of Tetra Tech in a research report on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $49.32.

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.