Martingale Asset Management L P Buys 370,323 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

Martingale Asset Management L P boosted its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 368.7% during the third quarter, Holdings Channel reports. The fund owned 470,761 shares of the industrial products company’s stock after acquiring an additional 370,323 shares during the period. Martingale Asset Management L P’s holdings in Tetra Tech were worth $22,201,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Allworth Financial LP boosted its stake in shares of Tetra Tech by 629.3% in the 3rd quarter. Allworth Financial LP now owns 547 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 472 shares during the last quarter. LGT Financial Advisors LLC boosted its stake in Tetra Tech by 400.0% during the 3rd quarter. LGT Financial Advisors LLC now owns 555 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 444 shares during the last quarter. Banque Cantonale Vaudoise bought a new position in Tetra Tech during the 2nd quarter worth approximately $28,000. Venturi Wealth Management LLC boosted its stake in Tetra Tech by 3,261.1% during the 3rd quarter. Venturi Wealth Management LLC now owns 605 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 587 shares during the last quarter. Finally, Canton Hathaway LLC boosted its stake in Tetra Tech by 400.0% during the 3rd quarter. Canton Hathaway LLC now owns 645 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 516 shares during the last quarter. Institutional investors own 93.89% of the company’s stock.

Analyst Ratings Changes

TTEK has been the topic of several recent analyst reports. KeyCorp reduced 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. Robert W. Baird raised their target price on shares of Tetra Tech from $46.00 to $47.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Royal Bank of Canada restated an “outperform” rating and set a $52.00 target price on shares of Tetra Tech in a report on Friday, November 15th. Finally, StockNews.com downgraded shares of Tetra Tech from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $49.32.

Insiders Place Their Bets

In other Tetra Tech news, EVP Leslie L. Shoemaker sold 78,420 shares of Tetra Tech stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $46.11, for a total transaction of $3,615,946.20. Following the completion of the transaction, the executive vice president now directly owns 296,015 shares of the company’s stock, valued at $13,649,251.65. The trade was a 20.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Steven M. Burdick sold 36,830 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $46.57, for a total transaction of $1,715,173.10. Following the completion of the sale, the chief financial officer now directly owns 112,620 shares of the company’s stock, valued at approximately $5,244,713.40. The trade was a 24.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 121,750 shares of company stock valued at $5,633,239 over the last ninety days. 0.61% of the stock is currently owned by company insiders.

Tetra Tech Price Performance

Shares of TTEK opened at $41.47 on Friday. The company has a market cap of $11.10 billion, a price-to-earnings ratio of 33.66 and a beta of 0.94. Tetra Tech, Inc. has a 1-year low of $30.92 and a 1-year high of $51.20. The company’s fifty day simple moving average is $46.67 and its 200 day simple moving average is $44.59. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.44.

Tetra Tech Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th will be given a dividend of $0.058 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.23 dividend on an annualized basis and a yield of 0.56%. Tetra Tech’s dividend payout ratio (DPR) is 18.67%.

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.