Tetra Tech, Inc. (NASDAQ:TTEK) Shares Acquired by VELA Investment Management LLC

VELA Investment Management LLC increased its position in Tetra Tech, Inc. (NASDAQ:TTEK) by 703.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,510 shares of the industrial products company’s stock after acquiring an additional 51,232 shares during the period. VELA Investment Management LLC owned approximately 0.11% of Tetra Tech worth $2,759,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in Tetra Tech by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 5,168,554 shares of the industrial products company’s stock valued at $954,684,000 after buying an additional 14,701 shares during the last quarter. Sarasin & Partners LLP grew its holdings in 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 valued at $233,460,000 after buying an additional 3,801,435 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Tetra Tech by 387.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,299,418 shares of the industrial products company’s stock valued at $155,601,000 after buying an additional 2,622,288 shares during the last quarter. abrdn plc grew its holdings in Tetra Tech by 353.0% during the 3rd quarter. abrdn plc now owns 2,110,076 shares of the industrial products company’s stock valued at $98,477,000 after buying an additional 1,644,267 shares during the last quarter. Finally, Copeland Capital Management LLC grew its holdings in 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 valued at $86,032,000 after buying an additional 1,355,351 shares during the last quarter. Institutional investors and hedge funds own 93.89% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. KeyCorp increased their target price on Tetra Tech from $49.00 to $56.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Royal Bank of Canada raised their price objective on Tetra Tech from $46.60 to $51.80 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Robert W. Baird raised their price objective on Tetra Tech from $44.60 to $46.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Finally, StockNews.com upgraded Tetra Tech from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $50.48.

Insider Activity

In other Tetra Tech news, CFO Steven M. Burdick sold 36,830 shares of the company’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $46.57, for a total value of $1,715,173.10. Following the transaction, the chief financial officer now owns 112,620 shares of the company’s stock, valued at approximately $5,244,713.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Dan L. Batrack sold 89,620 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $45.54, for a total transaction of $4,081,653.28. Following the transaction, the chief executive officer now directly owns 124,380 shares in the company, valued at $5,664,762.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Steven M. Burdick sold 36,830 shares of the company’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 completion of the sale, the chief financial officer now owns 112,620 shares of the company’s stock, valued at $5,244,713.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 236,370 shares of company stock valued at $10,880,243. Insiders own 0.61% of the company’s stock.

Tetra Tech Stock Performance

TTEK stock traded up $0.04 during midday trading on Friday, reaching $48.92. The company had a trading volume of 745,601 shares, compared to its average volume of 1,467,448. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.52. The stock has a 50 day moving average price of $47.68 and a 200 day moving average price of $43.97. Tetra Tech, Inc. has a fifty-two week low of $29.82 and a fifty-two week high of $50.69. The firm has a market capitalization of $13.09 billion, a PE ratio of 45.21 and a beta of 0.94.

Tetra Tech (NASDAQ:TTEK) last released its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. The company had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Tetra Tech had a return on equity of 21.50% and a net margin of 5.72%. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.26 earnings per share. Analysts anticipate that Tetra Tech, Inc. will post 1.25 earnings per share for the current year.

Tetra Tech Company 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.