Mirae Asset Global Investments Co. Ltd. Grows Position in Tetra Tech, Inc. (NASDAQ:TTEK)

Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 356.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,050 shares of the industrial products company’s stock after buying an additional 820 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Tetra Tech were worth $49,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Allworth Financial LP increased its position in Tetra Tech by 629.3% during the third quarter. Allworth Financial LP now owns 547 shares of the industrial products company’s stock worth $26,000 after buying an additional 472 shares in the last quarter. Banque Cantonale Vaudoise purchased a new stake in shares of Tetra Tech in the second quarter valued at $28,000. USA Financial Formulas grew its position in shares of Tetra Tech by 332.3% in the third quarter. USA Financial Formulas now owns 709 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 545 shares during the period. Rise Advisors LLC grew its position in shares of Tetra Tech by 402.1% in the third quarter. Rise Advisors LLC now owns 723 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 579 shares during the period. Finally, Sound Income Strategies LLC grew its position in shares of Tetra Tech by 400.0% in the third quarter. Sound Income Strategies LLC now owns 725 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 580 shares during the period. Hedge funds and other institutional investors own 93.89% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on TTEK shares. StockNews.com raised Tetra Tech from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Royal Bank of Canada lifted their price objective on 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 objective on Tetra Tech from $44.60 to $46.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Finally, KeyCorp boosted their price target on Tetra Tech from $49.00 to $56.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $50.48.

Tetra Tech Stock Up 2.3 %

Shares of NASDAQ:TTEK opened at $50.35 on Wednesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.21 and a current ratio of 1.21. Tetra Tech, Inc. has a 1 year low of $30.08 and a 1 year high of $50.69. The stock has a market capitalization of $13.48 billion, a P/E ratio of 46.62 and a beta of 0.94. The stock has a 50-day simple moving average of $47.79 and a 200-day simple moving average of $44.13.

Insider Transactions at Tetra Tech

In other news, CFO Steven M. Burdick sold 36,830 shares of the business’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $46.57, for a total transaction of $1,715,173.10. Following the completion of the sale, the chief financial officer now owns 112,620 shares in the company, valued at approximately $5,244,713.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Steven M. Burdick sold 36,830 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $46.57, for a total transaction of $1,715,173.10. Following the transaction, the chief financial officer now directly owns 112,620 shares of the company’s stock, valued at approximately $5,244,713.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Leslie L. Shoemaker sold 78,420 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $46.11, for a total value of $3,615,946.20. Following the transaction, the executive vice president now directly owns 296,015 shares in the company, valued at $13,649,251.65. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 121,750 shares of company stock worth $5,633,239. 0.61% of the stock is currently owned by company insiders.

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.