Premier Fund Managers Ltd Boosts Holdings in Tetra Tech, Inc. (NASDAQ:TTEK)

Premier Fund Managers Ltd increased its holdings in Tetra Tech, Inc. (NASDAQ:TTEK) by 400.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,500,000 shares of the industrial products company’s stock after buying an additional 1,200,000 shares during the period. Tetra Tech accounts for 2.5% of Premier Fund Managers Ltd’s investment portfolio, making the stock its 8th biggest position. Premier Fund Managers Ltd’s holdings in Tetra Tech were worth $69,615,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the stock. Allworth Financial LP boosted its stake in Tetra Tech by 629.3% in the 3rd quarter. Allworth Financial LP now owns 547 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 472 shares during the period. LGT Financial Advisors LLC lifted its holdings in shares of Tetra Tech by 400.0% in the third quarter. LGT Financial Advisors LLC now owns 555 shares of the industrial products company’s stock worth $26,000 after buying an additional 444 shares in the last quarter. Banque Cantonale Vaudoise bought a new position in shares of Tetra Tech in the second quarter valued at approximately $28,000. Venturi Wealth Management LLC grew its stake 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, USA Financial Formulas increased its holdings in Tetra Tech by 332.3% during the 3rd quarter. USA Financial Formulas now owns 709 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 545 shares during the period. 93.89% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on TTEK shares. StockNews.com lowered shares of Tetra Tech from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. 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. Royal Bank of Canada restated an “outperform” rating and issued a $52.00 target price on shares of Tetra Tech in a research note on Friday, November 15th. Finally, 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 report on Thursday, November 14th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $49.32.

Tetra Tech Stock Performance

NASDAQ TTEK opened at $40.74 on Wednesday. Tetra Tech, Inc. has a 52-week low of $30.92 and a 52-week high of $51.20. The company has a fifty day moving average of $47.40 and a 200-day moving average of $44.61. The company has a market capitalization of $10.90 billion, a P/E ratio of 33.07 and a beta of 0.94. 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 Dividend Announcement

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

Insider Transactions at Tetra Tech

In other news, EVP Leslie L. Shoemaker sold 78,420 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 296,015 shares in the company, valued at approximately $13,649,251.65. The trade was a 20.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Steven M. Burdick sold 36,830 shares of the company’s stock in a transaction on Wednesday, September 11th. The shares were 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 directly owns 112,620 shares of the company’s stock, valued at $5,244,713.40. This trade represents a 24.64 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 121,750 shares of company stock worth $5,633,239. 0.61% of the stock is currently owned by corporate insiders.

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.