Lazard Freres Gestion S.A.S. Decreases Stock Holdings in Tetra Tech, Inc. (NASDAQ:TTEK)

Lazard Freres Gestion S.A.S. lessened its holdings in Tetra Tech, Inc. (NASDAQ:TTEK) by 93.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,800 shares of the industrial products company’s stock after selling 172,200 shares during the quarter. Lazard Freres Gestion S.A.S.’s holdings in Tetra Tech were worth $603,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Sarasin & Partners LLP lifted its position in shares of Tetra Tech by 330.9% during the 3rd quarter. Sarasin & Partners LLP now owns 4,950,383 shares of the industrial products company’s stock worth $233,460,000 after buying an additional 3,801,435 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in Tetra Tech by 387.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,299,418 shares of the industrial products company’s stock worth $155,601,000 after acquiring an additional 2,622,288 shares in the last quarter. abrdn plc lifted its position in Tetra Tech by 353.0% in the third quarter. abrdn plc now owns 2,110,076 shares of the industrial products company’s stock valued at $98,477,000 after acquiring an additional 1,644,267 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Tetra Tech by 357.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,070,483 shares of the industrial products company’s stock valued at $97,644,000 after acquiring an additional 1,618,211 shares during the last quarter. Finally, Copeland Capital Management LLC boosted its stake in Tetra Tech by 289.0% in the third quarter. Copeland Capital Management LLC now owns 1,824,250 shares of the industrial products company’s stock valued at $86,032,000 after acquiring an additional 1,355,351 shares in the last quarter. 93.89% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO Steven M. Burdick sold 36,830 shares of the stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $46.57, for a total value of $1,715,173.10. Following the completion of the transaction, the chief financial officer now owns 112,620 shares in the company, valued at $5,244,713.40. This trade represents a 24.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 sale, the director now directly owns 143,200 shares in the company, valued at approximately $6,655,936. This represents a 4.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 121,750 shares of company stock valued at $5,633,239 over the last three months. 0.61% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on TTEK shares. Robert W. Baird boosted their target price on Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. KeyCorp cut their price target on Tetra Tech from $56.00 to $49.00 and set an “overweight” rating on the stock in a research report on Friday, November 15th. StockNews.com downgraded Tetra Tech from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $52.00 target price on shares of Tetra Tech in a research 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 company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $49.32.

Tetra Tech Stock Performance

TTEK traded up $1.02 on Tuesday, hitting $42.24. 233,361 shares of the company traded hands, compared to its average volume of 1,497,183. Tetra Tech, Inc. has a 12-month low of $30.92 and a 12-month high of $51.20. The company has a 50 day moving average of $47.06 and a 200-day moving average of $44.62. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $11.31 billion, a PE ratio of 33.46 and a beta of 0.94.

Tetra Tech Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th will be paid a dividend of $0.058 per share. This represents a $0.23 annualized dividend and a dividend yield of 0.55%. The ex-dividend date is Wednesday, November 27th. Tetra Tech’s dividend payout ratio (DPR) is presently 18.67%.

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.