Tetra Tech, Inc. $TTEK Stock: Van Berkom & Associates Inc. Cuts Holdings

Key Points

• Van Berkom & Associates cut its Tetra Tech stake by 13.5% in the third quarter, selling 334,269 shares; it retained 2.14 million shares valued at about $70.4 million.
• Other institutional investors reported share purchases, and institutions collectively own 93.89% of Tetra Tech.
• Analysts’ consensus rating is “Moderate Buy,” with an average price target of $39. The stock opened at $41.09 and has traded between $25.81 and $43.14 over the past year.

Van Berkom & Associates Inc. decreased its position in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 13.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,135,123 shares of the industrial products company's stock after selling 334,269 shares during the quarter. Tetra Tech comprises approximately 2.5% of Van Berkom & Associates Inc.'s investment portfolio, making the stock its 13th biggest holding. Van Berkom & Associates Inc. owned about 0.83% of Tetra Tech worth $70,352,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of TTEK. Northwestern Mutual Wealth Management Co. raised its holdings in Tetra Tech by 2.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 14,335 shares of the industrial products company's stock worth $414,000 after purchasing an additional 285 shares during the period. Parallel Advisors LLC boosted its position in shares of Tetra Tech by 16.5% during the third quarter. Parallel Advisors LLC now owns 2,285 shares of the industrial products company's stock worth $75,000 after purchasing an additional 323 shares in the last quarter. Abacus Wealth Partners LLC grew its holdings in shares of Tetra Tech by 6.2% in the 3rd quarter. Abacus Wealth Partners LLC now owns 9,987 shares of the industrial products company's stock valued at $329,000 after buying an additional 582 shares during the period. Assetmark Inc. increased its position in shares of Tetra Tech by 18.5% in the 1st quarter. Assetmark Inc. now owns 4,697 shares of the industrial products company's stock valued at $141,000 after buying an additional 733 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Tetra Tech by 21.2% in the 3rd quarter. GAMMA Investing LLC now owns 4,243 shares of the industrial products company's stock valued at $140,000 after buying an additional 742 shares in the last quarter. Institutional investors and hedge funds own 93.89% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on TTEK shares. Robert W. Baird set a $37.00 target price on Tetra Tech in a report on Thursday, July 30th. Weiss Ratings raised Tetra Tech from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday, October 27th. KeyCorp restated an "overweight" rating and issued a $41.00 price target (down from $43.00) on shares of Tetra Tech in a report on Thursday, October 15th. Wall Street Zen lowered Tetra Tech from a "buy" rating to a "hold" rating in a research report on Saturday, October 17th. Finally, Royal Bank Of Canada cut their price objective on Tetra Tech from $46.00 to $44.00 and set an "outperform" rating on the stock in a report on Thursday, October 15th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $39.00.

Tetra Tech Price Performance

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

About Tetra Tech

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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