Retirement Systems of Alabama Has $14.99 Million Position in Tetra Tech, Inc. (NASDAQ:TTEK)

Retirement Systems of Alabama decreased its position in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 3.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 376,288 shares of the industrial products company’s stock after selling 14,188 shares during the period. Retirement Systems of Alabama owned about 0.14% of Tetra Tech worth $14,991,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. Sarasin & Partners LLP increased its stake in shares of Tetra Tech by 330.9% in 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 purchasing an additional 3,801,435 shares during the last quarter. Geode Capital Management LLC grew its position in Tetra Tech by 406.6% in the third quarter. Geode Capital Management LLC now owns 4,716,080 shares of the industrial products company’s stock valued at $222,466,000 after acquiring an additional 3,785,189 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in Tetra Tech by 387.3% during 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 lifted its holdings in shares of Tetra Tech by 353.0% in the third quarter. abrdn plc now owns 2,110,076 shares of the industrial products company’s stock worth $98,477,000 after acquiring an additional 1,644,267 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Tetra Tech by 357.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,070,483 shares of the industrial products company’s stock valued at $97,644,000 after purchasing an additional 1,618,211 shares in the last quarter. 93.89% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Kirsten M. Volpi sold 10,116 shares of the company’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $34.33, for a total transaction of $347,282.28. Following the sale, the director now owns 60,196 shares in the company, valued at $2,066,528.68. This represents a 14.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.40% of the company’s stock.

Tetra Tech Stock Down 1.1 %

Shares of TTEK opened at $33.40 on Friday. The stock’s 50-day moving average price is $40.16 and its two-hundred day moving average price is $44.02. Tetra Tech, Inc. has a 12 month low of $31.09 and a 12 month high of $51.20. The company has a market capitalization of $8.95 billion, a PE ratio of 35.08 and a beta of 0.89. The company has a current ratio of 1.29, a quick ratio of 1.25 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 EPS for the quarter, beating the consensus estimate of $0.34 by $0.01. Tetra Tech had a return on equity of 22.58% and a net margin of 4.81%. On average, analysts anticipate that Tetra Tech, Inc. will post 1.37 EPS for the current year.

Tetra Tech Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th will be given a dividend of $0.058 per share. The ex-dividend date is Wednesday, February 12th. This represents a $0.23 dividend on an annualized basis and a yield of 0.69%. Tetra Tech’s dividend payout ratio (DPR) is currently 24.16%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $52.00 price objective on shares of Tetra Tech in a research note on Friday, November 15th. KeyCorp cut their price objective on Tetra Tech from $49.00 to $45.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. StockNews.com cut Tetra Tech from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Robert W. Baird lifted their price target on Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Finally, Maxim Group cut Tetra Tech from a “buy” rating to a “hold” rating in a report on Thursday. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $48.52.

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.