Tanager Wealth Management LLP Acquires New Stake in Tetra Tech, Inc. (NASDAQ:TTEK)

Tanager Wealth Management LLP acquired a new stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 6,494 shares of the industrial products company’s stock, valued at approximately $259,000.

A number of other large investors have also made changes to their positions in the stock. Ninety One North America Inc. boosted its stake in shares of Tetra Tech by 2.6% during the fourth quarter. Ninety One North America Inc. now owns 272,713 shares of the industrial products company’s stock valued at $10,865,000 after acquiring an additional 6,968 shares during the last quarter. abrdn plc boosted its stake in Tetra Tech by 7.6% in the 4th quarter. abrdn plc now owns 2,269,777 shares of the industrial products company’s stock worth $90,031,000 after buying an additional 159,701 shares during the last quarter. Trust Point Inc. acquired a new stake in Tetra Tech in the 4th quarter worth about $599,000. Jennison Associates LLC acquired a new stake in Tetra Tech in the 4th quarter worth about $22,653,000. Finally, Greenleaf Trust boosted its stake in Tetra Tech by 14.5% in the 4th quarter. Greenleaf Trust now owns 5,276 shares of the industrial products company’s stock worth $210,000 after buying an additional 669 shares during the last quarter. Institutional investors and hedge funds own 93.89% of the company’s stock.

Analyst Ratings Changes

TTEK has been the topic of a number of research analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $52.00 price target on shares of Tetra Tech in a research note on Friday, November 15th. Robert W. Baird raised their price target on Tetra Tech from $46.00 to $47.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. StockNews.com lowered Tetra Tech from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Finally, KeyCorp reduced their price objective on Tetra Tech from $49.00 to $45.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $48.52.

Tetra Tech Stock Performance

Shares of NASDAQ:TTEK opened at $34.54 on Wednesday. The company has a market cap of $9.26 billion, a P/E ratio of 36.28 and a beta of 0.89. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.25 and a current ratio of 1.29. Tetra Tech, Inc. has a one year low of $31.09 and a one year high of $51.20. The business’s 50-day simple moving average is $40.46 and its 200 day simple moving average is $44.11.

Tetra Tech (NASDAQ:TTEK) last announced its earnings results on Wednesday, January 29th. The industrial products company reported $0.35 EPS for the quarter, beating 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, sell-side analysts forecast that Tetra Tech, Inc. will post 1.37 earnings per share for the current fiscal year.

Tetra Tech Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th will be issued a dividend of $0.058 per share. The ex-dividend date is Wednesday, February 12th. This represents a $0.23 annualized dividend and a dividend yield of 0.67%. Tetra Tech’s payout ratio is currently 24.16%.

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.