Patten Group Inc. Takes $851,000 Position in Tetra Tech, Inc. (NASDAQ:TTEK)

Patten Group Inc. purchased a new stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 21,364 shares of the industrial products company’s stock, valued at approximately $851,000.

Several other institutional investors have also recently made changes to their positions in the company. LGT Financial Advisors LLC boosted its position in Tetra Tech by 400.0% during the third quarter. LGT Financial Advisors LLC now owns 555 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 444 shares in the last quarter. Venturi Wealth Management LLC boosted its position in Tetra Tech by 3,261.1% during the third quarter. Venturi Wealth Management LLC now owns 605 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 587 shares in the last quarter. Canton Hathaway LLC boosted its position in Tetra Tech by 400.0% during the third 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. Banque Cantonale Vaudoise boosted its position in Tetra Tech by 400.0% during the third quarter. Banque Cantonale Vaudoise now owns 695 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 556 shares in the last quarter. Finally, Millburn Ridgefield Corp boosted its position in Tetra Tech by 346.9% during the third quarter. Millburn Ridgefield Corp now owns 800 shares of the industrial products company’s stock valued at $37,000 after purchasing an additional 621 shares in the last quarter. Hedge funds and other institutional investors own 93.89% of the company’s stock.

Tetra Tech Price Performance

Shares of NASDAQ TTEK opened at $29.13 on Wednesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.29 and a current ratio of 1.29. The company has a market cap of $7.81 billion, a PE ratio of 30.60 and a beta of 0.89. The business has a 50-day simple moving average of $36.39 and a two-hundred day simple moving average of $42.48. Tetra Tech, Inc. has a fifty-two week low of $28.17 and a fifty-two week high of $51.20.

Tetra Tech (NASDAQ:TTEK) last released its earnings results on Wednesday, January 29th. The industrial products company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. Tetra Tech had a return on equity of 22.58% and a net margin of 4.81%. As a group, equities analysts expect that Tetra Tech, Inc. will post 1.37 EPS for the current fiscal year.

Tetra Tech Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were issued a dividend of $0.058 per share. This represents a $0.23 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date was Wednesday, February 12th. Tetra Tech’s dividend payout ratio (DPR) is 24.21%.

Insider Buying and Selling

In related news, Director Kirsten M. Volpi sold 10,116 shares of Tetra Tech stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $34.33, for a total transaction of $347,282.28. Following the completion of the sale, the director now owns 60,196 shares of the company’s stock, valued at $2,066,528.68. The trade was a 14.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.40% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Maxim Group downgraded Tetra Tech from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Robert W. Baird raised their price objective on Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. StockNews.com downgraded Tetra Tech from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. KeyCorp lowered their price target on Tetra Tech from $49.00 to $45.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Finally, Royal Bank of Canada set a $49.00 price target on Tetra Tech in a report on Friday, January 31st. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Tetra Tech has a consensus rating of “Moderate Buy” and a consensus target price of $47.92.

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.