Hsbc Holdings PLC Boosts Stake in Tetra Tech, Inc. (NASDAQ:TTEK)

Hsbc Holdings PLC lifted its stake in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 24.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 457,058 shares of the industrial products company's stock after buying an additional 89,114 shares during the period. Hsbc Holdings PLC owned approximately 0.17% of Tetra Tech worth $18,159,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in TTEK. Oregon Public Employees Retirement Fund grew its stake in shares of Tetra Tech by 0.7% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 54,525 shares of the industrial products company's stock worth $2,172,000 after buying an additional 400 shares during the last quarter. Nordea Investment Management AB boosted its position in Tetra Tech by 0.9% during the fourth quarter. Nordea Investment Management AB now owns 45,422 shares of the industrial products company's stock valued at $1,809,000 after acquiring an additional 411 shares during the last quarter. CIBC Asset Management Inc increased its holdings in Tetra Tech by 5.6% in the fourth quarter. CIBC Asset Management Inc now owns 8,318 shares of the industrial products company's stock worth $331,000 after purchasing an additional 438 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of Tetra Tech by 13.0% during the 4th quarter. Farther Finance Advisors LLC now owns 4,009 shares of the industrial products company's stock valued at $160,000 after acquiring an additional 461 shares during the period. Finally, Jones Financial Companies Lllp grew its stake in shares of Tetra Tech by 98.0% in the 4th quarter. Jones Financial Companies Lllp now owns 1,000 shares of the industrial products company's stock valued at $40,000 after buying an additional 495 shares during the period. Institutional investors and hedge funds own 93.89% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TTEK. Maxim Group cut Tetra Tech from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Royal Bank of Canada set a $49.00 price target on shares of Tetra Tech in a report on Friday, January 31st. Finally, KeyCorp decreased their target price on Tetra Tech from $45.00 to $34.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $45.72.

Tetra Tech Stock Performance

Shares of TTEK traded down $0.02 during trading hours on Friday, hitting $31.19. The company's stock had a trading volume of 509,754 shares, compared to its average volume of 1,993,930. The business has a 50 day simple moving average of $29.72 and a two-hundred day simple moving average of $37.16. Tetra Tech, Inc. has a 52-week low of $27.27 and a 52-week high of $51.20. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.29 and a quick ratio of 1.29. The company has a market cap of $8.36 billion, a price-to-earnings ratio of 32.73 and a beta of 0.92.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.35 earnings per share 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 expect that Tetra Tech, Inc. will post 1.37 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Kirsten M. Volpi sold 10,116 shares of the business's stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $34.33, for a total transaction of $347,282.28. Following the completion of the transaction, the director now directly owns 60,196 shares in the company, valued at $2,066,528.68. The trade was a 14.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.40% of the stock is owned by company insiders.

About Tetra Tech

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.