Tetra Tech, Inc. $TTEK Stock Sold by M&G PLC

Key Points

• M&G PLC reduced its Tetra Tech stake by 2.9% in the third quarter, selling 80,069 shares; it still held 2.70 million shares, worth about $89 million at quarter-end.
• Institutional ownership remains high at 93.89%, with several investors—including HSBC and Corient Private Wealth—increasing their holdings.
• Analysts’ consensus rating is “Moderate Buy”, with a $39 average price target. Shares opened at $41.09, near their 52-week high of $43.14.

M&G PLC cut its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 2.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,696,275 shares of the industrial products company's stock after selling 80,069 shares during the quarter. M&G PLC owned approximately 1.05% of Tetra Tech worth $88,977,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Public Employees Retirement System of Ohio acquired a new position in Tetra Tech during the second quarter valued at approximately $2,226,000. Hsbc Holdings PLC grew its stake in Tetra Tech by 45.9% in the second quarter. Hsbc Holdings PLC now owns 628,625 shares of the industrial products company's stock valued at $17,955,000 after purchasing an additional 197,653 shares in the last quarter. Neumeier Poma Investment Counsel LLC acquired a new position in shares of Tetra Tech during the 2nd quarter worth approximately $43,750,380. Corient Private Wealth LP increased its position in shares of Tetra Tech by 11.8% during the 2nd quarter. Corient Private Wealth LP now owns 1,554,196 shares of the industrial products company's stock worth $44,901,000 after purchasing an additional 164,373 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Tetra Tech by 3.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,789,240 shares of the industrial products company's stock worth $114,128,000 after purchasing an additional 112,560 shares during the last quarter. 93.89% of the stock is currently owned by institutional investors and hedge funds.

Tetra Tech Trading Up 2.0%

Tetra Tech stock opened at $41.09 on Tuesday. Tetra Tech, Inc. has a 52 week low of $25.81 and a 52 week high of $43.14. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.18 and a current ratio of 1.18. The stock has a market capitalization of $10.52 billion, a P/E ratio of 24.75 and a beta of 0.86. The stock has a 50-day simple moving average of $35.81 and a 200 day simple moving average of $33.23.

Analyst Upgrades and Downgrades

TTEK has been the topic of a number of analyst reports. KeyCorp reiterated an "overweight" rating and set a $41.00 price objective (down from $43.00) on shares of Tetra Tech in a research note on Thursday, October 15th. National Bank Financial decreased their target price on shares of Tetra Tech from $38.00 to $35.00 and set an "outperform" rating for the company in a research note on Monday, July 13th. Royal Bank Of Canada lowered their target price on shares of Tetra Tech from $46.00 to $44.00 and set an "outperform" rating on the stock in a report on Thursday, October 15th. Wall Street Zen downgraded shares of Tetra Tech from a "buy" rating to a "hold" rating in a report on Saturday, October 17th. Finally, Weiss Ratings raised shares of Tetra Tech from a "hold (c)" rating to a "hold (c+)" rating in a research report on Tuesday, October 27th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $39.00.

Tetra Tech Profile

Tetra Tech, Inc is a consulting and engineering services company founded in 1966. It works with government and commercial clients on projects involving water, the environment, infrastructure, energy, and resource management.

The company provides services across the project lifecycle, including planning, consulting, engineering, design, and program and construction management. Its work includes water supply and wastewater systems, environmental assessment and remediation, infrastructure development, and climate resilience.

Tetra Tech serves clients in the United States and internationally.

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