Readystate Asset Management LP Buys Shares of 9,100 Tetra Tech, Inc. (NASDAQ:TTEK)

Readystate Asset Management LP bought a new stake in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 9,100 shares of the industrial products company's stock, valued at approximately $1,519,000.

Several other large investors have also modified their holdings of the business. Price T Rowe Associates Inc. MD grew its position in shares of Tetra Tech by 6.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 26,517 shares of the industrial products company's stock valued at $4,427,000 after purchasing an additional 1,490 shares during the last quarter. Winslow Asset Management Inc. grew its position in shares of Tetra Tech by 0.4% in the fourth quarter. Winslow Asset Management Inc. now owns 97,211 shares of the industrial products company's stock valued at $16,227,000 after purchasing an additional 390 shares during the last quarter. Cim Investment Management Inc. acquired a new stake in shares of Tetra Tech in the fourth quarter valued at approximately $217,000. Public Employees Retirement System of Ohio grew its position in shares of Tetra Tech by 2.2% in the fourth quarter. Public Employees Retirement System of Ohio now owns 23,664 shares of the industrial products company's stock valued at $3,950,000 after purchasing an additional 510 shares during the last quarter. Finally, Barclays PLC grew its position in shares of Tetra Tech by 67.6% in the fourth quarter. Barclays PLC now owns 55,958 shares of the industrial products company's stock valued at $9,341,000 after purchasing an additional 22,573 shares during the last quarter. 93.89% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, 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 value of $1,320,160.05. Following the transaction, the chief financial officer now owns 29,890 shares of the company's stock, valued at approximately $5,250,776.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, 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 value of $1,320,160.05. Following the transaction, the chief financial officer now owns 29,890 shares of the company's stock, valued at approximately $5,250,776.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Brian N. Carter sold 5,580 shares of the firm's stock in a transaction on Friday, February 9th. The shares were sold at an average price of $176.52, for a total transaction of $984,981.60. Following the completion of the transaction, the senior vice president now directly owns 8,360 shares in the company, valued at approximately $1,475,707.20. The disclosure for this sale can be found here. Insiders have sold a total of 32,123 shares of company stock valued at $5,487,673 over the last quarter. Company insiders own 0.61% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on TTEK shares. KeyCorp started coverage on shares of Tetra Tech in a research report on Wednesday, January 10th. They set an "overweight" rating and a $191.00 target price on the stock. Royal Bank of Canada raised their target price on shares of Tetra Tech from $192.00 to $203.00 and gave the stock an "outperform" rating in a research report on Friday, February 2nd. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $197.25.

Tetra Tech Trading Down 2.0 %

NASDAQ:TTEK traded down $3.82 during trading hours on Wednesday, reaching $186.49. 234,376 shares of the company were exchanged, compared to its average volume of 255,115. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.25 and a quick ratio of 1.25. The firm has a market cap of $9.98 billion, a price-to-earnings ratio of 43.17 and a beta of 0.96. Tetra Tech, Inc. has a 52-week low of $132.29 and a 52-week high of $194.99. The stock has a 50 day simple moving average of $183.03 and a 200 day simple moving average of $168.82.

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

Tetra Tech Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 27th. Shareholders of record on Wednesday, February 14th were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend was Tuesday, February 13th. Tetra Tech's dividend payout ratio is currently 24.07%.

Tetra Tech Company 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.

Want to see what other hedge funds are holding TTEK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tetra Tech, Inc. (NASDAQ:TTEK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.