Tetra Tech, Inc. (NASDAQ:TTEK) Shares Purchased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lifted its position in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 470.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 22,982 shares of the industrial products company’s stock after acquiring an additional 18,955 shares during the period. PNC Financial Services Group Inc.’s holdings in Tetra Tech were worth $1,084,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in TTEK. Allworth Financial LP increased its holdings in shares of 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 buying an additional 472 shares in the last quarter. LGT Financial Advisors LLC grew its position in Tetra Tech by 400.0% during the third quarter. LGT Financial Advisors LLC now owns 555 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 444 shares in the last quarter. Banque Cantonale Vaudoise acquired a new position in shares of Tetra Tech in the second quarter worth $28,000. Venturi Wealth Management LLC raised its stake in shares of 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 purchasing an additional 587 shares in the last quarter. Finally, USA Financial Formulas lifted its stake in 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 acquiring an additional 545 shares during the last quarter. Institutional investors and hedge funds own 93.89% of the company’s stock.

Tetra Tech Trading Down 0.3 %

Shares of Tetra Tech stock opened at $41.47 on Thursday. The company has a market cap of $11.10 billion, a price-to-earnings ratio of 33.80 and a beta of 0.94. Tetra Tech, Inc. has a 1 year low of $30.92 and a 1 year high of $51.20. The company’s fifty day simple moving average is $46.86 and its 200-day simple moving average is $44.61. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.44.

Tetra Tech Dividend Announcement

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 $0.058 dividend. This represents a $0.23 annualized dividend and a dividend yield of 0.56%. The ex-dividend date is Wednesday, November 27th. Tetra Tech’s payout ratio is presently 18.67%.

Analysts Set New Price Targets

TTEK has been the subject of several recent analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $52.00 price target on shares of Tetra Tech in a research note on Friday, November 15th. Robert W. Baird increased their price target on Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. KeyCorp dropped their price target on shares of Tetra Tech from $56.00 to $49.00 and set an “overweight” rating on the stock in a research report on Friday, November 15th. Finally, StockNews.com downgraded shares of Tetra Tech from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Tetra Tech currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.32.

Insider Buying and Selling

In other Tetra Tech news, EVP Leslie L. Shoemaker sold 78,420 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $46.11, for a total value of $3,615,946.20. Following the sale, the executive vice president now owns 296,015 shares of the company’s stock, valued at $13,649,251.65. The trade was a 20.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kimberly E. Ritrievi sold 6,500 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $46.48, for a total transaction of $302,120.00. Following the transaction, the director now directly owns 143,200 shares of the company’s stock, valued at $6,655,936. The trade was a 4.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 121,750 shares of company stock valued at $5,633,239 over the last three months. 0.61% of the stock is owned by corporate insiders.

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.