Capital International Investors Acquires Shares of 1,101,793 Tetra Tech, Inc. (NASDAQ:TTEK)

Capital International Investors bought a new position in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,101,793 shares of the industrial products company's stock, valued at approximately $43,895,000. Capital International Investors owned about 0.41% of Tetra Tech as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the company. CANADA LIFE ASSURANCE Co raised its position in Tetra Tech by 0.9% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 229,385 shares of the industrial products company's stock valued at $9,137,000 after purchasing an additional 1,949 shares during the last quarter. Marshall Wace LLP grew its holdings in Tetra Tech by 107.3% during the 4th quarter. Marshall Wace LLP now owns 45,927 shares of the industrial products company's stock worth $1,830,000 after acquiring an additional 23,776 shares during the last quarter. Charter Oak Advisors LP acquired a new position in shares of Tetra Tech during the fourth quarter worth $2,563,000. Guggenheim Capital LLC bought a new stake in shares of Tetra Tech in the fourth quarter worth $379,000. Finally, XTX Topco Ltd raised its position in Tetra Tech by 53.9% during the 4th quarter. XTX Topco Ltd now owns 16,614 shares of the industrial products company's stock worth $662,000 after purchasing an additional 5,818 shares during the last quarter. 93.89% of the stock is currently owned by institutional investors.

Tetra Tech Stock Down 0.9 %

Shares of NASDAQ TTEK traded down $0.29 during midday trading on Friday, hitting $31.21. 1,017,832 shares of the stock traded hands, compared to its average volume of 2,001,703. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.29 and a current ratio of 1.29. Tetra Tech, Inc. has a one year low of $27.27 and a one year high of $51.20. The business has a 50 day moving average price of $29.63 and a two-hundred day moving average price of $37.66. The company has a market cap of $8.37 billion, a PE ratio of 32.78 and a beta of 0.89.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $0.35 EPS for the quarter, beating analysts' consensus estimates of $0.34 by $0.01. Tetra Tech had a net margin of 4.81% and a return on equity of 22.58%. On average, equities analysts predict that Tetra Tech, Inc. will post 1.37 EPS for the current year.

Tetra Tech Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were paid a dividend of $0.058 per share. The ex-dividend date was Wednesday, February 12th. This represents a $0.23 dividend on an annualized basis and a yield of 0.74%. Tetra Tech's dividend payout ratio (DPR) is currently 24.21%.

Wall Street Analyst Weigh In

Several brokerages recently commented on TTEK. KeyCorp reduced their target price on Tetra Tech from $45.00 to $34.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Royal Bank of Canada set a $49.00 target price on shares of Tetra Tech in a report on Friday, January 31st. Finally, Maxim Group downgraded Tetra Tech from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $45.72.

Insiders Place Their Bets

In related news, Director Kirsten M. Volpi sold 10,116 shares of Tetra Tech stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $34.33, for a total transaction of $347,282.28. Following the transaction, the director now owns 60,196 shares of the company's stock, valued at $2,066,528.68. The trade was a 14.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.40% of the company's stock.

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.