PDT Partners LLC Invests $458,000 in Tetra Tech, Inc. (NASDAQ:TTEK)

PDT Partners LLC purchased a new position in Tetra Tech, Inc. (NASDAQ:TTEK) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 9,721 shares of the industrial products company’s stock, valued at approximately $458,000.

Other hedge funds have also made changes to their positions in the company. Allworth Financial LP raised its position in Tetra Tech by 629.3% during the third quarter. Allworth Financial LP now owns 547 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 472 shares in the last quarter. LGT Financial Advisors LLC raised its position in Tetra Tech by 400.0% during the third quarter. LGT Financial Advisors LLC now owns 555 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 444 shares in the last quarter. Banque Cantonale Vaudoise bought a new position in Tetra Tech during the second quarter valued at approximately $28,000. Venturi Wealth Management LLC raised its position in Tetra Tech by 3,261.1% during 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 raised its position in 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 in the last quarter. 93.89% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Tetra Tech

In other news, 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 value of $3,615,946.20. Following the sale, the executive vice president now owns 296,015 shares in the company, valued at approximately $13,649,251.65. This trade represents a 20.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kimberly E. Ritrievi sold 6,500 shares of Tetra Tech stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $46.48, for a total transaction of $302,120.00. Following the sale, the director now owns 143,200 shares in the company, valued at $6,655,936. This represents a 4.34 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 121,750 shares of company stock worth $5,633,239. Insiders own 0.61% of the company’s stock.

Tetra Tech Trading Up 1.4 %

Shares of TTEK stock opened at $42.34 on Wednesday. Tetra Tech, Inc. has a 12 month low of $31.61 and a 12 month high of $51.20. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.44. The business’s 50 day moving average is $46.38 and its two-hundred day moving average is $44.58. The company has a market cap of $11.34 billion, a PE ratio of 34.37 and a beta of 0.88.

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 $0.058 dividend. 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 payout ratio is 18.67%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. KeyCorp cut their price objective on shares of Tetra Tech from $56.00 to $49.00 and set an “overweight” rating on the stock in a research report on Friday, November 15th. Royal Bank of Canada reiterated an “outperform” rating and set a $52.00 price target on shares of Tetra Tech in a report on Friday, November 15th. Robert W. Baird increased their price target on Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Finally, StockNews.com downgraded Tetra Tech from a “buy” rating to a “hold” rating in a 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $49.32.

About Tetra Tech

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.