First Trust Direct Indexing L.P. Makes New Investment in Tetra Tech, Inc. (NASDAQ:TTEK)

First Trust Direct Indexing L.P. acquired a new position in Tetra Tech, Inc. (NASDAQ:TTEK) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 4,628 shares of the industrial products company’s stock, valued at approximately $218,000.

Several other hedge funds and other institutional investors have also bought and sold shares of TTEK. Sarasin & Partners LLP raised its position in shares of Tetra Tech by 330.9% in the 3rd quarter. Sarasin & Partners LLP now owns 4,950,383 shares of the industrial products company’s stock valued at $233,460,000 after buying an additional 3,801,435 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Tetra Tech by 387.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,299,418 shares of the industrial products company’s stock valued at $155,601,000 after buying an additional 2,622,288 shares in the last quarter. abrdn plc raised its position in shares of Tetra Tech by 353.0% in the 3rd quarter. abrdn plc now owns 2,110,076 shares of the industrial products company’s stock valued at $98,477,000 after buying an additional 1,644,267 shares in the last quarter. Copeland Capital Management LLC raised its position in shares of Tetra Tech by 289.0% in the 3rd quarter. Copeland Capital Management LLC now owns 1,824,250 shares of the industrial products company’s stock valued at $86,032,000 after buying an additional 1,355,351 shares in the last quarter. Finally, Vontobel Holding Ltd. raised its position in shares of Tetra Tech by 409.4% in the 3rd quarter. Vontobel Holding Ltd. now owns 1,425,589 shares of the industrial products company’s stock valued at $67,231,000 after buying an additional 1,145,738 shares in the last quarter. Institutional investors and hedge funds own 93.89% of the company’s stock.

Tetra Tech Trading Up 2.3 %

TTEK opened at $50.35 on Wednesday. Tetra Tech, Inc. has a fifty-two week low of $30.08 and a fifty-two week high of $50.69. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.21 and a quick ratio of 1.21. The firm has a market capitalization of $13.48 billion, a price-to-earnings ratio of 46.62 and a beta of 0.94. The company’s 50 day moving average price is $47.79 and its two-hundred day moving average price is $44.13.

Insiders Place Their Bets

In other Tetra Tech news, EVP Leslie L. Shoemaker sold 78,420 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $46.11, for a total transaction of $3,615,946.20. Following the sale, the executive vice president now directly owns 296,015 shares of the company’s stock, valued at $13,649,251.65. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Kimberly E. Ritrievi sold 6,500 shares of the company’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $46.48, for a total value of $302,120.00. Following the sale, the director now directly owns 143,200 shares of the company’s stock, valued at approximately $6,655,936. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Leslie L. Shoemaker sold 78,420 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $46.11, for a total transaction of $3,615,946.20. Following the completion of the sale, the executive vice president now directly owns 296,015 shares in the company, valued at approximately $13,649,251.65. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 121,750 shares of company stock valued at $5,633,239 in the last ninety days. 0.61% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TTEK. KeyCorp boosted their target price on shares of Tetra Tech from $49.00 to $56.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Royal Bank of Canada boosted their target price on shares of Tetra Tech from $46.60 to $51.80 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Robert W. Baird lifted their price target on shares of Tetra Tech from $44.60 to $46.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Finally, StockNews.com raised shares of Tetra Tech from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Tetra Tech has a consensus rating of “Moderate Buy” and an average price target of $50.48.

Tetra Tech 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.