Cynosure Group LLC Invests $365,000 in Tetra Tech, Inc. (NASDAQ:TTEK)

Cynosure Group LLC acquired a new stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK) during the third quarter, HoldingsChannel.com reports. The institutional investor acquired 7,735 shares of the industrial products company’s stock, valued at approximately $365,000.

Other institutional investors have also added to or reduced their stakes in the company. Sarasin & Partners LLP grew its holdings in Tetra Tech by 330.9% during the 3rd quarter. Sarasin & Partners LLP now owns 4,950,383 shares of the industrial products company’s stock valued at $233,460,000 after buying an additional 3,801,435 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Tetra Tech by 387.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,299,418 shares of the industrial products company’s stock valued at $155,601,000 after acquiring an additional 2,622,288 shares during the period. abrdn plc grew its stake in Tetra Tech by 353.0% during the third quarter. abrdn plc now owns 2,110,076 shares of the industrial products company’s stock valued at $98,477,000 after acquiring an additional 1,644,267 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Tetra Tech by 357.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,070,483 shares of the industrial products company’s stock worth $97,644,000 after acquiring an additional 1,618,211 shares during the period. Finally, Copeland Capital Management LLC lifted its stake in Tetra Tech by 289.0% in the 3rd quarter. Copeland Capital Management LLC now owns 1,824,250 shares of the industrial products company’s stock worth $86,032,000 after purchasing an additional 1,355,351 shares in the last quarter. Hedge funds and other institutional investors own 93.89% of the company’s stock.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other news, CFO Steven M. Burdick sold 36,830 shares of the business’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $46.57, for a total value of $1,715,173.10. Following the completion of the sale, the chief financial officer now 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kimberly E. Ritrievi sold 6,500 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 143,200 shares in the company, valued at approximately $6,655,936. The trade was a 4.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 121,750 shares of company stock valued at $5,633,239 over the last three months. Insiders own 0.61% of the company’s stock.

Tetra Tech Stock Down 0.3 %

Shares of NASDAQ TTEK opened at $41.47 on Friday. The stock has a market capitalization of $11.10 billion, a P/E ratio of 33.66 and a beta of 0.94. Tetra Tech, Inc. has a one year low of $30.92 and a one year high of $51.20. The firm’s 50 day simple moving average is $46.77 and its two-hundred day simple moving average is $44.60. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.25 and a quick ratio of 1.25.

Tetra Tech Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be given a $0.058 dividend. This represents a $0.23 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend is Wednesday, November 27th. Tetra Tech’s payout ratio is presently 18.67%.

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.