Tetra Tech, Inc. (NASDAQ:TTEK) Position Boosted by Fred Alger Management LLC

Fred Alger Management LLC grew its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 400.0% in the third quarter, according to its most recent filing with the SEC. The firm owned 53,145 shares of the industrial products company’s stock after acquiring an additional 42,516 shares during the quarter. Fred Alger Management LLC’s holdings in Tetra Tech were worth $2,506,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Allworth Financial LP grew its position in Tetra Tech by 629.3% in the 3rd quarter. Allworth Financial LP now owns 547 shares of the industrial products company’s stock valued at $26,000 after buying an additional 472 shares in the last quarter. LGT Financial Advisors LLC boosted its holdings in shares of Tetra Tech by 400.0% in the third quarter. LGT Financial Advisors LLC now owns 555 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 444 shares in the last quarter. Banque Cantonale Vaudoise acquired a new position in shares of Tetra Tech during the second quarter valued at approximately $28,000. Venturi Wealth Management LLC lifted its position in Tetra Tech by 3,261.1% in the third quarter. Venturi Wealth Management LLC now owns 605 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 587 shares during the period. Finally, Canton Hathaway LLC boosted its stake in Tetra Tech by 400.0% during the 3rd quarter. Canton Hathaway LLC now owns 645 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 516 shares in the last quarter. Institutional investors own 93.89% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Leslie L. Shoemaker sold 78,420 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $46.11, for a total value of $3,615,946.20. Following the transaction, the executive vice president now owns 296,015 shares in the company, valued at $13,649,251.65. This represents a 20.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Steven M. Burdick sold 36,830 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $46.57, for a total transaction of $1,715,173.10. Following the completion of the sale, the chief financial officer now directly owns 112,620 shares of the company’s stock, valued at $5,244,713.40. This trade represents a 24.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 121,750 shares of company stock worth $5,633,239. Corporate insiders own 0.61% of the company’s stock.

Tetra Tech Price Performance

TTEK stock opened at $41.51 on Monday. The firm has a 50-day moving average of $46.58 and a two-hundred day moving average of $44.58. The firm has a market capitalization of $11.11 billion, a PE ratio of 33.69 and a beta of 0.94. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.44. Tetra Tech, Inc. has a one year low of $30.92 and a one year high of $51.20.

Tetra Tech Announces Dividend

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

Analysts Set New Price Targets

A number of analysts have recently commented on the company. 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 note on Thursday, November 14th. KeyCorp cut their price target on shares of Tetra Tech from $56.00 to $49.00 and set an “overweight” rating for the company in a report on Friday, November 15th. StockNews.com cut shares of Tetra Tech from a “buy” rating to a “hold” rating in a research note 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 report on Friday, November 15th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has an average 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.