Oak Ridge Investments LLC Invests $400,000 in Tetra Tech, Inc. (NASDAQ:TTEK)

Oak Ridge Investments LLC purchased a new position in shares of Tetra Tech, Inc. (NASDAQ:TTEK) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 8,472 shares of the industrial products company’s stock, valued at approximately $400,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Tetra Tech by 0.3% during the first quarter. Vanguard Group Inc. now owns 5,168,554 shares of the industrial products company’s stock worth $954,684,000 after purchasing an additional 14,701 shares in the last quarter. Sarasin & Partners LLP boosted its position in shares of Tetra Tech by 330.9% during the third quarter. Sarasin & Partners LLP now owns 4,950,383 shares of the industrial products company’s stock worth $233,460,000 after purchasing an additional 3,801,435 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of 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 purchasing an additional 2,622,288 shares in the last quarter. abrdn plc boosted its position in shares of Tetra Tech by 353.0% during the third quarter. abrdn plc now owns 2,110,076 shares of the industrial products company’s stock worth $98,477,000 after purchasing an additional 1,644,267 shares in the last quarter. Finally, Copeland Capital Management LLC boosted its position in shares of Tetra Tech by 289.0% during the third quarter. Copeland Capital Management LLC now owns 1,824,250 shares of the industrial products company’s stock worth $86,032,000 after purchasing an additional 1,355,351 shares in the last quarter. 93.89% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on TTEK. KeyCorp boosted their price objective on shares of Tetra Tech from $49.00 to $56.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Royal Bank of Canada boosted their price objective on shares of Tetra Tech from $46.60 to $51.80 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Robert W. Baird boosted their price objective on shares of Tetra Tech from $44.60 to $46.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Finally, StockNews.com raised shares of Tetra Tech from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Tetra Tech currently has a consensus rating of “Moderate Buy” and an average price target of $50.48.

Tetra Tech Stock Up 0.1 %

Shares of TTEK stock opened at $48.92 on Friday. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.52. Tetra Tech, Inc. has a 1 year low of $29.82 and a 1 year high of $50.69. The firm’s fifty day moving average price is $47.64 and its two-hundred day moving average price is $43.89. The firm has a market capitalization of $13.09 billion, a P/E ratio of 45.21 and a beta of 0.94.

Tetra Tech (NASDAQ:TTEK) last issued its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.01. Tetra Tech had a net margin of 5.72% and a return on equity of 21.50%. The firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same period in the previous year, the business earned $0.26 EPS. The company’s revenue was up 10.7% compared to the same quarter last year. On average, equities analysts predict that Tetra Tech, Inc. will post 1.25 EPS for the current fiscal year.

Insider Transactions at Tetra Tech

In other news, SVP Preston Hopson III sold 25,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $46.61, for a total transaction of $1,165,350.00. Following the transaction, the senior vice president now directly owns 43,710 shares in the company, valued at $2,037,497.94. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, SVP Preston Hopson III sold 25,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $46.61, for a total transaction of $1,165,350.00. Following the transaction, the senior vice president now directly owns 43,710 shares in the company, valued at $2,037,497.94. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kimberly E. Ritrievi sold 6,500 shares of the business’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $46.48, for a total transaction of $302,120.00. Following the transaction, the director now owns 143,200 shares in the company, valued at $6,655,936. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 236,370 shares of company stock worth $10,880,243 in the last ninety days. Insiders own 0.61% 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.