Empowered Funds LLC Buys Shares of 27,726 Tetra Tech, Inc. (NASDAQ:TTEK)

Empowered Funds LLC purchased a new position in shares of Tetra Tech, Inc. (NASDAQ:TTEK) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 27,726 shares of the industrial products company’s stock, valued at approximately $1,308,000.

A number of other large investors also recently modified their holdings of TTEK. Allworth Financial LP raised its position in Tetra Tech by 629.3% in the third quarter. Allworth Financial LP now owns 547 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 472 shares during the last quarter. LGT Financial Advisors LLC raised its holdings in Tetra Tech by 400.0% in the 3rd quarter. LGT Financial Advisors LLC now owns 555 shares of the industrial products company’s stock valued at $26,000 after buying an additional 444 shares during the last quarter. Banque Cantonale Vaudoise acquired a new stake in Tetra Tech during the 2nd quarter worth approximately $28,000. Venturi Wealth Management LLC grew its holdings in Tetra Tech by 3,261.1% during the 3rd quarter. Venturi Wealth Management LLC now owns 605 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 587 shares during the last quarter. Finally, USA Financial Formulas increased its position in Tetra Tech by 332.3% in the 3rd quarter. USA Financial Formulas now owns 709 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 545 shares during the period. 93.89% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Tetra Tech

In related news, Director Kimberly E. Ritrievi sold 6,500 shares of the company’s stock in a transaction dated 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 owns 143,200 shares in the company, valued at $6,655,936. This represents a 4.34 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Steven M. Burdick sold 36,830 shares of Tetra Tech stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $46.57, for a total value of $1,715,173.10. Following the transaction, the chief financial officer now owns 112,620 shares of the company’s stock, valued at $5,244,713.40. This trade represents a 24.64 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 121,750 shares of company stock valued at $5,633,239. Corporate insiders own 0.61% of the company’s stock.

Tetra Tech Price Performance

Shares of TTEK opened at $40.79 on Friday. The firm has a market cap of $10.92 billion, a PE ratio of 33.16 and a beta of 0.94. Tetra Tech, Inc. has a 52-week low of $30.92 and a 52-week high of $51.20. The business’s 50 day moving average price is $47.27 and its two-hundred day moving average price is $44.63. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.21 and a current ratio of 1.25.

Tetra Tech Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be paid a dividend of $0.058 per share. This represents a $0.23 annualized dividend and a yield of 0.57%. The ex-dividend date is Wednesday, November 27th. Tetra Tech’s dividend payout ratio is presently 18.70%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on TTEK shares. KeyCorp reduced their price objective on shares of Tetra Tech from $56.00 to $49.00 and set an “overweight” rating on the stock in a research note on Friday, November 15th. StockNews.com lowered Tetra Tech from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Robert W. Baird lifted their price objective on Tetra Tech from $46.00 to $47.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $52.00 price target on shares of Tetra Tech in a report on Friday, November 15th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $49.32.

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.