abrdn plc Has $79.35 Million Position in Tetra Tech, Inc. (NASDAQ:TTEK)

abrdn plc lifted its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 1.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 475,320 shares of the industrial products company's stock after purchasing an additional 5,962 shares during the quarter. abrdn plc owned about 0.89% of Tetra Tech worth $79,345,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Stifel Financial Corp grew its stake in shares of Tetra Tech by 10.7% during the 3rd quarter. Stifel Financial Corp now owns 26,817 shares of the industrial products company's stock worth $4,077,000 after purchasing an additional 2,593 shares during the period. WCM Investment Management LLC grew its stake in Tetra Tech by 2.5% in the 4th quarter. WCM Investment Management LLC now owns 339,938 shares of the industrial products company's stock valued at $57,127,000 after acquiring an additional 8,394 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its stake in Tetra Tech by 95.7% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 17,977 shares of the industrial products company's stock valued at $2,733,000 after acquiring an additional 8,791 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc acquired a new stake in Tetra Tech in the 4th quarter valued at about $82,209,000. Finally, Sequoia Financial Advisors LLC acquired a new stake in Tetra Tech in the 4th quarter valued at about $873,000. 93.89% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Tetra Tech

In other news, CFO Steven M. Burdick sold 7,128 shares of the stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $165.01, for a total transaction of $1,176,191.28. Following the transaction, the chief financial officer now directly owns 37,405 shares in the company, valued at approximately $6,172,199.05. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CFO Steven M. Burdick sold 7,128 shares of the firm's stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $165.01, for a total value of $1,176,191.28. Following the transaction, the chief financial officer now owns 37,405 shares in the company, valued at $6,172,199.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director J Kenneth Thompson sold 3,500 shares of the firm's 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 owns 10,985 shares in the company, valued at approximately $1,946,981.40. The disclosure for this sale can be found here. Insiders have sold a total of 32,123 shares of company stock worth $5,487,673 in the last three months. Company insiders own 0.61% of the company's stock.

Tetra Tech Trading Down 1.2 %

Shares of Tetra Tech stock traded down $2.16 during mid-day trading on Friday, hitting $184.67. 728,789 shares of the stock were exchanged, compared to its average volume of 227,967. Tetra Tech, Inc. has a twelve month low of $132.29 and a twelve month high of $194.99. The stock has a market capitalization of $9.88 billion, a price-to-earnings ratio of 42.75 and a beta of 0.96. The company has a 50-day simple moving average of $183.42 and a 200 day simple moving average of $169.41. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.61.

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

Tetra Tech Dividend Announcement

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

Wall Street Analysts Forecast Growth

TTEK has been the topic of a number of research reports. Royal Bank of Canada increased their price objective on shares of Tetra Tech from $192.00 to $203.00 and gave the company an "outperform" rating in a research note on Friday, February 2nd. KeyCorp began coverage on shares of Tetra Tech in a research note on Wednesday, January 10th. They issued an "overweight" rating and a $191.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price 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.