Polen Capital Management LLC Acquires 20,038 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

Polen Capital Management LLC boosted its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 86.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 43,162 shares of the industrial products company’s stock after buying an additional 20,038 shares during the period. Polen Capital Management LLC’s holdings in Tetra Tech were worth $1,720,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Amundi boosted its stake in Tetra Tech by 2.5% during the fourth quarter. Amundi now owns 4,873,176 shares of the industrial products company’s stock valued at $194,314,000 after buying an additional 117,304 shares during the period. Geode Capital Management LLC boosted its stake in Tetra Tech by 406.6% during 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 buying an additional 3,785,189 shares during the period. Corient Private Wealth LLC lifted its stake in Tetra Tech by 14.9% during the fourth quarter. Corient Private Wealth LLC now owns 2,613,259 shares of the industrial products company’s stock worth $104,112,000 after purchasing an additional 339,839 shares during the last quarter. Robeco Schweiz AG lifted its stake in Tetra Tech by 26.5% during the fourth quarter. Robeco Schweiz AG now owns 2,449,875 shares of the industrial products company’s stock worth $97,603,000 after purchasing an additional 512,931 shares during the last quarter. Finally, abrdn plc lifted its stake in Tetra Tech by 7.6% during the fourth quarter. abrdn plc now owns 2,269,777 shares of the industrial products company’s stock worth $90,031,000 after purchasing an additional 159,701 shares during the last quarter. Institutional investors own 93.89% of the company’s stock.

Insider Buying and Selling at Tetra Tech

In other news, Director Kirsten M. Volpi sold 10,116 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $34.33, for a total value of $347,282.28. Following the completion of the transaction, the director now owns 60,196 shares of the company’s stock, valued at approximately $2,066,528.68. This represents a 14.39 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.40% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. KeyCorp dropped their price target on Tetra Tech from $49.00 to $45.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Royal Bank of Canada set a $49.00 price target on Tetra Tech in a research note on Friday, January 31st. Finally, Maxim Group lowered Tetra Tech from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $47.92.

Tetra Tech Stock Up 1.5 %

TTEK opened at $29.12 on Monday. The company has a market cap of $7.81 billion, a P/E ratio of 30.59 and a beta of 0.93. The business’s 50-day moving average price is $34.45 and its 200-day moving average price is $41.42. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.53. Tetra Tech, Inc. has a 12 month low of $28.17 and a 12 month high of $51.20.

Tetra Tech (NASDAQ:TTEK) last released its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.35 EPS for the quarter, topping 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, equities analysts expect that Tetra Tech, Inc. will post 1.37 EPS for the current year.

Tetra Tech Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were given a dividend of $0.058 per share. This represents a $0.23 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date of this dividend was Wednesday, February 12th. Tetra Tech’s payout ratio is 24.21%.

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.