AlphaQuest LLC Reduces Stock Position in Tetra Tech, Inc. (NASDAQ:TTEK)

AlphaQuest LLC lowered its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 60.6% during the 4th quarter, HoldingsChannel reports. The fund owned 3,696 shares of the industrial products company’s stock after selling 5,683 shares during the period. AlphaQuest LLC’s holdings in Tetra Tech were worth $147,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in TTEK. Amundi raised its position in shares of Tetra Tech by 2.5% in the fourth quarter. Amundi now owns 4,873,176 shares of the industrial products company’s stock worth $194,314,000 after buying an additional 117,304 shares in the last quarter. Geode Capital Management LLC raised its position in shares of 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 worth $222,466,000 after buying an additional 3,785,189 shares in the last quarter. Robeco Schweiz AG raised its position in shares of Tetra Tech by 26.5% in the fourth quarter. Robeco Schweiz AG now owns 2,449,875 shares of the industrial products company’s stock worth $97,603,000 after buying an additional 512,931 shares in the last quarter. abrdn plc raised its position in shares of Tetra Tech by 7.6% in the fourth quarter. abrdn plc now owns 2,269,777 shares of the industrial products company’s stock worth $90,031,000 after buying an additional 159,701 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Tetra Tech by 0.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,081,839 shares of the industrial products company’s stock worth $82,940,000 after buying an additional 11,356 shares in the last quarter. Hedge funds and other institutional investors own 93.89% of the company’s stock.

Tetra Tech Trading Up 1.1 %

NASDAQ TTEK opened at $29.44 on Tuesday. The stock’s 50-day simple moving average is $34.45 and its two-hundred day simple moving average is $41.42. Tetra Tech, Inc. has a twelve month low of $28.17 and a twelve month high of $51.20. The company has a market capitalization of $7.89 billion, a price-to-earnings ratio of 30.92 and a beta of 0.93. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.53.

Tetra Tech (NASDAQ:TTEK) last announced its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. Tetra Tech had a return on equity of 22.58% and a net margin of 4.81%. Research analysts forecast that Tetra Tech, Inc. will post 1.37 EPS for the current fiscal year.

Tetra Tech Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were paid a dividend of $0.058 per share. The ex-dividend date was Wednesday, February 12th. This represents a $0.23 dividend on an annualized basis and a dividend yield of 0.79%. Tetra Tech’s dividend payout ratio (DPR) is currently 24.21%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Royal Bank of Canada set a $49.00 price objective on Tetra Tech in a research report on Friday, January 31st. KeyCorp lowered their price target on Tetra Tech from $49.00 to $45.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Finally, Maxim Group downgraded Tetra Tech from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $47.92.

Insider Activity

In related news, Director Kirsten M. Volpi sold 10,116 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $34.33, for a total value of $347,282.28. Following the sale, the director now directly owns 60,196 shares of the company’s stock, valued at $2,066,528.68. This trade represents a 14.39 % 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. Insiders own 0.40% of the company’s stock.

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.