Tetra Tech, Inc. (NASDAQ:TTEK) Shares Acquired by Freedom Investment Management Inc.

Freedom Investment Management Inc. boosted its position in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 9.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,833 shares of the industrial products company’s stock after purchasing an additional 2,277 shares during the period. Freedom Investment Management Inc.’s holdings in Tetra Tech were worth $1,069,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Virtu Financial LLC acquired a new stake in shares of Tetra Tech during the third quarter valued at about $285,000. Capstone Capital LLC grew its stake in Tetra Tech by 400.0% during the 3rd quarter. Capstone Capital LLC now owns 5,075 shares of the industrial products company’s stock valued at $239,000 after purchasing an additional 4,060 shares in the last quarter. Sanctuary Advisors LLC increased its holdings in Tetra Tech by 439.7% during the 3rd quarter. Sanctuary Advisors LLC now owns 27,902 shares of the industrial products company’s stock worth $1,316,000 after purchasing an additional 22,732 shares during the last quarter. World Investment Advisors LLC raised its position in shares of Tetra Tech by 393.9% in the 3rd quarter. World Investment Advisors LLC now owns 5,680 shares of the industrial products company’s stock valued at $268,000 after purchasing an additional 4,530 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Tetra Tech during the 3rd quarter valued at approximately $522,000. Hedge funds and other institutional investors own 93.89% of the company’s stock.

Wall Street Analyst Weigh In

TTEK has been the subject of a number of research analyst reports. KeyCorp dropped their price target on shares of Tetra Tech from $45.00 to $34.00 and set an “overweight” rating for the company in a research note on Wednesday. Royal Bank of Canada set a $49.00 target price on shares of Tetra Tech in a research note on Friday, January 31st. Finally, Maxim Group cut shares of Tetra Tech from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 4th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $45.72.

Tetra Tech Stock Performance

Tetra Tech stock opened at $30.22 on Friday. The company has a market cap of $8.10 billion, a PE ratio of 31.74 and a beta of 0.89. Tetra Tech, Inc. has a 12 month low of $27.27 and a 12 month high of $51.20. The company has a fifty day moving average price of $29.67 and a two-hundred day moving average price of $38.37. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.29 and a quick ratio of 1.29.

Tetra Tech (NASDAQ:TTEK) last announced its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. Tetra Tech had a net margin of 4.81% and a return on equity of 22.58%. Research analysts expect that Tetra Tech, Inc. will post 1.37 earnings per share for the current year.

Tetra Tech Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were given a dividend of $0.058 per share. This represents a $0.23 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date was Wednesday, February 12th. Tetra Tech’s payout ratio is 24.21%.

Insider Buying and Selling

In related news, Director Kirsten M. Volpi sold 10,116 shares of the company’s stock in a transaction on 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 transaction, the director now directly owns 60,196 shares in the company, valued at $2,066,528.68. This represents a 14.39 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.40% of the company’s stock.

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.