Hilltop Holdings Inc. Purchases New Position in Tetra Tech, Inc. (NASDAQ:TTEK)

Hilltop Holdings Inc. purchased a new stake in Tetra Tech, Inc. (NASDAQ:TTEK) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,381 shares of the industrial products company’s stock, valued at approximately $395,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cetera Investment Advisers raised its stake in Tetra Tech by 90.8% during the 1st quarter. Cetera Investment Advisers now owns 8,605 shares of the industrial products company’s stock worth $1,589,000 after acquiring an additional 4,096 shares in the last quarter. Cetera Advisors LLC acquired a new stake in shares of Tetra Tech during the first quarter worth about $208,000. CWM LLC lifted its holdings in shares of Tetra Tech by 20.2% in the 2nd quarter. CWM LLC now owns 304 shares of the industrial products company’s stock valued at $62,000 after purchasing an additional 51 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of Tetra Tech by 510.9% in the 2nd quarter. SG Americas Securities LLC now owns 7,759 shares of the industrial products company’s stock valued at $1,587,000 after purchasing an additional 6,489 shares during the period. Finally, Gateway Investment Advisers LLC purchased a new position in Tetra Tech during the 2nd quarter worth approximately $1,036,000. Institutional investors and hedge funds own 93.89% of the company’s stock.

Insider Activity at Tetra Tech

In other Tetra Tech news, Director Kimberly E. Ritrievi sold 6,500 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $46.48, for a total value of $302,120.00. Following the completion of the transaction, the director now owns 143,200 shares in the company, valued at approximately $6,655,936. This represents a 4.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Steven M. Burdick sold 36,830 shares of the business’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $46.57, for a total transaction of $1,715,173.10. Following the sale, the chief financial officer now owns 112,620 shares in the company, valued at $5,244,713.40. The trade was a 24.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 121,750 shares of company stock worth $5,633,239 over the last 90 days. Company insiders own 0.61% of the company’s stock.

Tetra Tech Stock Performance

Shares of TTEK opened at $42.69 on Friday. The stock has a market capitalization of $11.43 billion, a P/E ratio of 34.65 and a beta of 0.88. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.25 and a current ratio of 1.25. Tetra Tech, Inc. has a 1 year low of $31.61 and a 1 year high of $51.20. The company’s fifty day moving average is $46.14 and its two-hundred day moving average is $44.56.

Tetra Tech Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be issued a dividend of $0.058 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.23 annualized dividend and a yield of 0.54%. Tetra Tech’s dividend payout ratio is currently 18.67%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on TTEK shares. Robert W. Baird boosted their price objective on Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. StockNews.com downgraded shares of Tetra Tech from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. KeyCorp dropped their price objective on shares of Tetra Tech from $56.00 to $49.00 and set an “overweight” rating on the stock in a research note on Friday, November 15th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $52.00 target price on shares of Tetra Tech in a report on Friday, November 15th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $49.32.

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.