First Business Financial Services Inc. Has $828,000 Position in Tetra Tech, Inc. (NASDAQ:TTEK)

First Business Financial Services Inc. raised its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 400.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,555 shares of the industrial products company’s stock after buying an additional 14,044 shares during the period. First Business Financial Services Inc.’s holdings in Tetra Tech were worth $828,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise acquired a new stake in shares of Tetra Tech in the second quarter worth $28,000. EverSource Wealth Advisors LLC grew its position in Tetra Tech by 561.3% during the second quarter. EverSource Wealth Advisors LLC now owns 205 shares of the industrial products company’s stock worth $44,000 after buying an additional 174 shares in the last quarter. Family Firm Inc. bought a new position in Tetra Tech during the second quarter valued at about $51,000. Quarry LP acquired a new stake in shares of Tetra Tech during the 2nd quarter worth approximately $54,000. Finally, 1832 Asset Management L.P. lifted its position in Tetra Tech by 125.8% in the first quarter. 1832 Asset Management L.P. now owns 271 shares of the industrial products company’s stock worth $50,000 after purchasing an additional 151 shares during the period. 93.89% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Kimberly E. Ritrievi sold 6,500 shares of the stock in a transaction that occurred on Wednesday, September 11th. The shares were 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 of the company’s stock, valued at $6,655,936. This represents a 4.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Steven M. Burdick sold 36,830 shares of Tetra Tech stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $46.57, for a total value of $1,715,173.10. Following the sale, the chief financial officer now directly 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. Over the last quarter, insiders have sold 121,750 shares of company stock valued at $5,633,239. 0.61% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TTEK. Robert W. Baird boosted their target price on shares of Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a research note on Thursday. KeyCorp boosted their price objective on shares of Tetra Tech from $49.00 to $56.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Royal Bank of Canada increased their target price on Tetra Tech from $46.60 to $51.80 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Finally, StockNews.com raised Tetra Tech from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Tetra Tech currently has an average rating of “Moderate Buy” and a consensus target price of $50.68.

Tetra Tech Price Performance

NASDAQ:TTEK opened at $40.96 on Friday. The company has a market cap of $10.96 billion, a P/E ratio of 33.25 and a beta of 0.94. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.21 and a quick ratio of 1.21. Tetra Tech, Inc. has a one year low of $30.92 and a one year high of $51.20. The firm’s fifty day moving average price is $47.82 and its two-hundred day moving average price is $44.55.

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.