Otter Creek Advisors LLC Has $6.82 Million Stock Holdings in Tetra Tech, Inc. (NASDAQ:TTEK)

Otter Creek Advisors LLC grew its holdings in Tetra Tech, Inc. (NASDAQ:TTEK) by 615.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 144,660 shares of the industrial products company’s stock after acquiring an additional 124,438 shares during the quarter. Tetra Tech accounts for about 4.4% of Otter Creek Advisors LLC’s investment portfolio, making the stock its 5th largest holding. Otter Creek Advisors LLC owned about 0.05% of Tetra Tech worth $6,822,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of TTEK. O Shaughnessy Asset Management LLC boosted its position in shares of Tetra Tech by 7.6% during the first quarter. O Shaughnessy Asset Management LLC now owns 5,742 shares of the industrial products company’s stock worth $1,061,000 after buying an additional 404 shares during the period. CANADA LIFE ASSURANCE Co boosted its position in Tetra Tech by 17.1% during the first quarter. CANADA LIFE ASSURANCE Co now owns 36,463 shares of the industrial products company’s stock valued at $6,738,000 after purchasing an additional 5,332 shares during the last quarter. Advisors Asset Management Inc. raised its stake in Tetra Tech by 5.5% in the first quarter. Advisors Asset Management Inc. now owns 14,245 shares of the industrial products company’s stock valued at $2,631,000 after buying an additional 746 shares during the period. Quadrature Capital Ltd bought a new stake in Tetra Tech in the first quarter valued at approximately $1,469,000. Finally, 1832 Asset Management L.P. raised its stake in Tetra Tech by 125.8% in the first quarter. 1832 Asset Management L.P. now owns 271 shares of the industrial products company’s stock valued at $50,000 after buying an additional 151 shares during the period. 93.89% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

TTEK has been the topic of a number of recent research reports. Royal Bank of Canada restated an “outperform” rating and set 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 $56.00 to $49.00 and set an “overweight” rating on the stock in a report on Friday, November 15th. Robert W. Baird raised their price objective on Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Finally, StockNews.com downgraded Tetra Tech from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $49.32.

Insider Transactions at Tetra Tech

In other Tetra Tech news, CFO Steven M. Burdick sold 36,830 shares of the business’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 sale, the chief financial officer now owns 112,620 shares of the company’s stock, valued at $5,244,713.40. The trade was a 24.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Leslie L. Shoemaker sold 78,420 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $46.11, for a total transaction of $3,615,946.20. Following the sale, the executive vice president now directly owns 296,015 shares in the company, valued at $13,649,251.65. The trade was a 20.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 121,750 shares of company stock worth $5,633,239 in the last 90 days. Insiders own 0.61% of the company’s stock.

Tetra Tech Price Performance

Shares of NASDAQ TTEK opened at $40.79 on Friday. Tetra Tech, Inc. has a twelve month low of $30.92 and a twelve month high of $51.20. The stock’s 50 day moving average price is $47.27 and its 200-day moving average price is $44.63. The company has a market capitalization of $10.92 billion, a PE ratio of 33.11 and a beta of 0.94. The company has a quick ratio of 1.21, a current ratio of 1.25 and a debt-to-equity ratio of 0.44.

Tetra Tech Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th will be paid a $0.058 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $0.23 dividend on an annualized basis and a dividend yield of 0.57%. Tetra Tech’s payout ratio is presently 18.67%.

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.