Corsair Capital Management L.P. Has $3.15 Million Holdings in Tetra Tech, Inc. (NASDAQ:TTEK)

Corsair Capital Management L.P. raised its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 17.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,825 shares of the industrial products company’s stock after acquiring an additional 10,000 shares during the quarter. Tetra Tech makes up 0.7% of Corsair Capital Management L.P.’s investment portfolio, making the stock its 23rd largest holding. Corsair Capital Management L.P.’s holdings in Tetra Tech were worth $3,151,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Lazard Asset Management LLC raised its holdings in Tetra Tech by 5.4% during the first quarter. Lazard Asset Management LLC now owns 6,455 shares of the industrial products company’s stock valued at $1,191,000 after buying an additional 330 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Tetra Tech by 7.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 28,613 shares of the industrial products company’s stock valued at $5,286,000 after acquiring an additional 2,096 shares in the last quarter. iA Global Asset Management Inc. lifted its holdings in Tetra Tech by 3.5% in the 1st quarter. iA Global Asset Management Inc. now owns 3,518 shares of the industrial products company’s stock worth $650,000 after purchasing an additional 119 shares during the last quarter. Strategic Wealth Partners Ltd. boosted its position in Tetra Tech by 10.7% during the first quarter. Strategic Wealth Partners Ltd. now owns 7,806 shares of the industrial products company’s stock worth $1,442,000 after purchasing an additional 754 shares during the period. Finally, Cetera Investment Advisers grew its holdings in Tetra Tech by 90.8% during the first quarter. Cetera Investment Advisers now owns 8,605 shares of the industrial products company’s stock valued at $1,589,000 after purchasing an additional 4,096 shares during the last quarter. 93.89% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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

Tetra Tech Trading Up 1.0 %

Shares of TTEK opened at $41.64 on Wednesday. The stock has a fifty day moving average price of $46.86 and a two-hundred day moving average price of $44.61. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.25 and a current ratio of 1.25. The company has a market cap of $11.15 billion, a price-to-earnings ratio of 33.80 and a beta of 0.94. Tetra Tech, Inc. has a 52-week low of $30.92 and a 52-week high of $51.20.

Tetra Tech Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th will be given a $0.058 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $0.23 dividend on an annualized basis and a yield of 0.56%. Tetra Tech’s payout ratio is 18.67%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on TTEK shares. StockNews.com lowered shares of Tetra Tech from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. KeyCorp lowered 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. Robert W. Baird boosted their price objective on Tetra Tech from $46.00 to $47.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $52.00 price target 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 assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $49.32.

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.