Algert Global LLC Grows Position in Tetra Tech, Inc. (NASDAQ:TTEK)

Algert Global LLC boosted its stake in Tetra Tech, Inc. (NASDAQ:TTEK) by 578.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 144,785 shares of the industrial products company’s stock after purchasing an additional 123,458 shares during the quarter. Algert Global LLC owned about 0.05% of Tetra Tech worth $6,828,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Harbor Capital Advisors Inc. grew its stake in Tetra Tech by 630.8% during the third quarter. Harbor Capital Advisors Inc. now owns 36,430 shares of the industrial products company’s stock worth $1,718,000 after buying an additional 31,445 shares during the period. Arkadios Wealth Advisors grew its stake in Tetra Tech by 615.8% during the third quarter. Arkadios Wealth Advisors now owns 22,310 shares of the industrial products company’s stock worth $1,052,000 after buying an additional 19,193 shares during the period. SFE Investment Counsel grew its stake in Tetra Tech by 374.8% during the third quarter. SFE Investment Counsel now owns 36,330 shares of the industrial products company’s stock worth $1,713,000 after buying an additional 28,679 shares during the period. US Bancorp DE grew its stake in Tetra Tech by 401.8% during the third quarter. US Bancorp DE now owns 17,093 shares of the industrial products company’s stock worth $806,000 after buying an additional 13,687 shares during the period. Finally, VELA Investment Management LLC grew its stake in Tetra Tech by 703.9% during the third quarter. VELA Investment Management LLC now owns 58,510 shares of the industrial products company’s stock worth $2,759,000 after buying an additional 51,232 shares during the period. 93.89% of the stock is currently owned by hedge funds and other institutional investors.

Tetra Tech Trading Up 0.4 %

TTEK opened at $40.96 on Friday. The stock has a market capitalization of $10.97 billion, a PE ratio of 33.25 and a beta of 0.94. The firm’s fifty day moving average price is $47.06 and its 200 day moving average price is $44.62. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.25 and a quick ratio of 1.21. Tetra Tech, Inc. has a 12-month low of $30.92 and a 12-month high of $51.20.

Tetra Tech Dividend Announcement

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

Insider Activity at Tetra Tech

In other Tetra Tech news, CFO Steven M. Burdick sold 36,830 shares of the 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 directly owns 112,620 shares of the company’s stock, valued at approximately $5,244,713.40. This represents a 24.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Leslie L. Shoemaker sold 78,420 shares of the stock in a transaction on Tuesday, September 10th. The stock was 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. This trade represents a 20.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 121,750 shares of company stock valued at $5,633,239 over the last ninety days. Corporate insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on TTEK shares. StockNews.com downgraded shares of Tetra Tech from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Robert W. Baird upped their target price on shares of Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. 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, KeyCorp decreased their target price on shares of Tetra Tech from $56.00 to $49.00 and set an “overweight” rating for the company in a research note on Friday, November 15th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Tetra Tech presently has an average rating of “Moderate Buy” and an average target price of $49.32.

About Tetra Tech

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.