abrdn plc Raises Stock Position in Tetra Tech, Inc. (NASDAQ:TTEK)

abrdn plc increased its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 1.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 475,320 shares of the industrial products company’s stock after purchasing an additional 5,962 shares during the period. abrdn plc owned approximately 0.89% of Tetra Tech worth $79,345,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Contravisory Investment Management Inc. purchased a new position in shares of Tetra Tech during the fourth quarter worth $26,000. Meeder Asset Management Inc. raised its holdings in shares of Tetra Tech by 165.9% during the fourth quarter. Meeder Asset Management Inc. now owns 242 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 151 shares during the last quarter. Millburn Ridgefield Corp purchased a new position in shares of Tetra Tech during the third quarter worth $37,000. 1832 Asset Management L.P. raised its holdings in shares of Tetra Tech by 88.7% during the first quarter. 1832 Asset Management L.P. now owns 268 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 126 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of Tetra Tech during the second quarter worth $39,000. Hedge funds and other institutional investors own 93.89% of the company’s stock.

Tetra Tech Stock Down 1.2 %

Shares of NASDAQ TTEK opened at $184.67 on Friday. The company’s 50-day simple moving average is $183.42 and its 200-day simple moving average is $169.18. Tetra Tech, Inc. has a 52-week low of $132.29 and a 52-week high of $194.99. The firm has a market cap of $9.88 billion, a price-to-earnings ratio of 42.75 and a beta of 0.96. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.61.

Tetra Tech (NASDAQ:TTEK) last announced its earnings results on Wednesday, January 31st. The industrial products company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.05. Tetra Tech had a net margin of 4.77% and a return on equity of 21.05%. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $974.00 million. During the same quarter last year, the business earned $1.34 earnings per share. Equities analysts predict that Tetra Tech, Inc. will post 6.07 EPS for the current fiscal year.

Tetra Tech Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 27th. Stockholders of record on Wednesday, February 14th were given a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, February 13th. This represents a $1.04 annualized dividend and a dividend yield of 0.56%. Tetra Tech’s dividend payout ratio (DPR) is 24.07%.

Insider Activity

In related news, CFO Steven M. Burdick sold 7,128 shares of the business’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $165.01, for a total transaction of $1,176,191.28. Following the transaction, the chief financial officer now directly owns 37,405 shares in the company, valued at $6,172,199.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Brian N. Carter sold 5,580 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $176.52, for a total transaction of $984,981.60. Following the transaction, the senior vice president now directly owns 8,360 shares in the company, valued at $1,475,707.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Steven M. Burdick sold 7,128 shares of the business’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $165.01, for a total transaction of $1,176,191.28. Following the transaction, the chief financial officer now owns 37,405 shares in the company, valued at $6,172,199.05. The disclosure for this sale can be found here. Insiders have sold a total of 32,123 shares of company stock worth $5,487,673 over the last 90 days. 0.61% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. KeyCorp assumed coverage on shares of Tetra Tech in a research report on Wednesday, January 10th. They set an “overweight” rating and a $191.00 price target on the stock. Royal Bank of Canada raised their price target on shares of Tetra Tech from $192.00 to $203.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $197.25.

About Tetra Tech

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.