Allspring Global Investments Holdings LLC Sells 66,199 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

Allspring Global Investments Holdings LLC lowered its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 10.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 558,350 shares of the industrial products company's stock after selling 66,199 shares during the period. Allspring Global Investments Holdings LLC owned approximately 1.04% of Tetra Tech worth $93,205,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in TTEK. Arkadios Wealth Advisors raised its holdings in shares of Tetra Tech by 2.5% in the 4th quarter. Arkadios Wealth Advisors now owns 3,060 shares of the industrial products company's stock worth $511,000 after acquiring an additional 74 shares during the last quarter. O Shaughnessy Asset Management LLC raised its holdings in shares of Tetra Tech by 2.0% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 4,051 shares of the industrial products company's stock worth $595,000 after acquiring an additional 81 shares during the last quarter. Guinness Asset Management LTD raised its holdings in shares of Tetra Tech by 2.6% in the 3rd quarter. Guinness Asset Management LTD now owns 3,332 shares of the industrial products company's stock worth $507,000 after acquiring an additional 83 shares during the last quarter. Hunter Associates Investment Management LLC raised its holdings in shares of Tetra Tech by 2.0% in the 3rd quarter. Hunter Associates Investment Management LLC now owns 4,320 shares of the industrial products company's stock worth $654,000 after acquiring an additional 86 shares during the last quarter. Finally, US Bancorp DE raised its holdings in shares of Tetra Tech by 4.2% in the 1st quarter. US Bancorp DE now owns 2,170 shares of the industrial products company's stock worth $358,000 after acquiring an additional 87 shares during the last quarter. Institutional investors and hedge funds own 93.89% of the company's stock.

Tetra Tech Stock Up 0.5 %

TTEK stock traded up $1.01 during trading on Tuesday, reaching $194.51. The stock had a trading volume of 210,752 shares, compared to its average volume of 254,979. Tetra Tech, Inc. has a one year low of $132.29 and a one year high of $194.99. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.61. The company's 50 day moving average is $180.06 and its two-hundred day moving average is $167.34. The company has a market capitalization of $10.41 billion, a price-to-earnings ratio of 45.03 and a beta of 0.96.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last released its earnings results on Wednesday, January 31st. The industrial products company reported $1.40 earnings per share for the quarter, beating analysts' consensus estimates of $1.35 by $0.05. Tetra Tech had a net margin of 4.77% and a return on equity of 21.05%. The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $974.00 million. During the same period in the prior year, the firm earned $1.34 EPS. Equities research analysts forecast that Tetra Tech, Inc. will post 6.07 EPS for the current year.

Tetra Tech Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 27th. Stockholders of record on Wednesday, February 14th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend was Tuesday, February 13th. Tetra Tech's dividend payout ratio is currently 24.07%.

Insider Activity

In other news, Director J Kenneth Thompson sold 3,500 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $177.24, for a total transaction of $620,340.00. Following the completion of the transaction, the director now directly owns 10,985 shares of the company's stock, valued at approximately $1,946,981.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director J Kenneth Thompson sold 3,500 shares of the firm's stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $177.24, for a total transaction of $620,340.00. Following the sale, the director now owns 10,985 shares in the company, valued at approximately $1,946,981.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Steven M. Burdick sold 7,515 shares of the firm's stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $175.67, for a total transaction of $1,320,160.05. Following the sale, the chief financial officer now owns 29,890 shares in the company, valued at approximately $5,250,776.30. The disclosure for this sale can be found here. Insiders sold 32,123 shares of company stock valued at $5,487,673 in the last three months. Company insiders own 0.61% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on TTEK shares. Royal Bank of Canada upped their target price on shares of Tetra Tech from $192.00 to $203.00 and gave the stock an "outperform" rating in a report on Friday, February 2nd. KeyCorp began coverage on shares of Tetra Tech in a research report on Wednesday, January 10th. They issued an "overweight" rating and a $191.00 price objective for the company. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $197.25.

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.