Tetra Tech, Inc. (NASDAQ: TTEK) Stock Purchased by Texas Teachers’ Retirement System
Teacher Retirement System of Texas increased its stake in Tetra Tech, Inc. (NASDAQ: TTEK – Get Rating) by 6.3% during the first quarter, according to the company in its latest 13F filing with the Securities & Exchange Commission. The fund held 11,162 shares of the industrial products company after buying an additional 662 shares during the quarter. The Teacher Retirement System of Texas holdings in Tetra Tech were worth $1,841,000 at the end of the last quarter.
Several other hedge funds and other institutional investors also changed their positions in TTEK. Norges Bank acquired a new position in shares of Tetra Tech during the 4th quarter with a value of $225,525,000. BlackRock Inc. increased its stake in Tetra Tech by 4.9% during the 4th quarter. BlackRock Inc. now owns 7,041,851 shares of the industrial products company worth $1,195,707,000 after purchasing an additional 327,928 shares during the period. abrdn plc increased its stake in Tetra Tech by 37.8% in the 1st quarter. abrdn plc now owns 665,732 shares of the industrial products company worth $112,449,000 after purchasing an additional 182,715 shares during the period. Copeland Capital Management LLC increased its stake in Tetra Tech by 83.3% during the 1st quarter. Copeland Capital Management LLC now owns 258,591 shares of the industrial products company worth $42,652,000 after purchasing an additional 117,547 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new stake in Tetra Tech during the 4th quarter at a value of $16,765,000. Institutional investors and hedge funds own 87.75% of the company’s shares.
Tetra Tech stock up 1.2%
Tetra Tech stock opened at $147.83 on Monday. The company’s 50-day simple moving average is $138.21 and its 200-day simple moving average is $144.62. Tetra Tech, Inc. has a fifty-two week low of $118.55 and a fifty-two week high of $192.91. The company has a market capitalization of $7.94 billion, a price-earnings ratio of 30.54 and a beta of 0.90. The company has a debt ratio of 0.19, a current ratio of 1.21 and a quick ratio of 1.26.
Tetra Tech announces dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, August 26. Shareholders of record on Friday, August 12 will receive a dividend of $0.23. The ex-dividend date is Thursday, August 11. This represents a dividend of $0.92 on an annualized basis and a dividend yield of 0.62%. Tetra Tech’s payout ratio is currently 19.01%.
Wall Street analysts predict growth
Several equity research analysts have recently weighed in on the stock. Northcoast Research took over Tetra Tech stock coverage in a Friday, July 15 research report. They gave the company a “neutral” rating. Boenning Scattergood reaffirmed a “neutral” rating on Tetra Tech shares in a Thursday, May 5, research note. StockNews.com downgraded Tetra Tech shares from a “buy” rating to a “hold” rating in a Friday, August 5 research rating. Finally, Maxim Group cut its price target on Tetra Tech shares from $215.00 to $190.00 in a Friday, May 6 report.
Tetra Tech Company Profile
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Tetra Tech, Inc provides consulting and engineering services worldwide. 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, applied science and engineering research, engineering design, project management and engineering services. operation and maintenance; and climate change and energy management consulting, as well as greenhouse gas inventory assessment, certification, reduction and management services.
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