Tetra Tech, Inc. (NASDAQ:TTEK) Short Interest Update

Tetra Tech, Inc. (NASDAQ:TTEK) saw a significant increase in short interest in November. As of November 15th, there was short interest totalling 5,090,000 shares, an increase of 29.8% from the October 31st total of 3,920,000 shares. Based on an average daily volume of 1,770,000 shares, the days-to-cover ratio is currently 2.9 days.

Tetra Tech Stock Performance

Tetra Tech stock traded up $0.04 during mid-day trading on Friday, reaching $41.51. The company’s stock had a trading volume of 1,335,703 shares, compared to its average volume of 1,505,794. The firm has a market cap of $11.11 billion, a price-to-earnings ratio of 33.66 and a beta of 0.94. Tetra Tech has a twelve month low of $30.92 and a twelve month high of $51.20. The business has a 50 day moving average price of $46.67 and a 200-day moving average price of $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 Dividend Announcement

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

Wall Street Analysts Forecast Growth

TTEK has been the topic of several analyst reports. KeyCorp dropped their price objective on Tetra Tech from $56.00 to $49.00 and set an “overweight” rating on the stock in a report on Friday, November 15th. Robert W. Baird upped their price target on shares of Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. StockNews.com lowered shares of Tetra Tech from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $52.00 target price on shares of Tetra Tech in a research note on Friday, November 15th. Two equities 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 company presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.32.

Insiders Place Their Bets

In other news, CFO Steven M. Burdick sold 36,830 shares of the company’s stock in a transaction on 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 completion of the transaction, the chief financial officer now directly owns 112,620 shares in the company, valued at approximately $5,244,713.40. This represents a 24.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Leslie L. Shoemaker sold 78,420 shares of Tetra Tech stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $46.11, for a total transaction of $3,615,946.20. Following the sale, the executive vice president now directly owns 296,015 shares in the company, valued at $13,649,251.65. This trade represents a 20.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 121,750 shares of company stock worth $5,633,239 over the last quarter. 0.61% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tetra Tech

A number of large investors have recently bought and sold shares of the business. Harbor Capital Advisors Inc. raised its position in shares of Tetra Tech by 630.8% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 36,430 shares of the industrial products company’s stock worth $1,718,000 after purchasing an additional 31,445 shares during the period. Arkadios Wealth Advisors increased its position in Tetra Tech by 615.8% in the third quarter. Arkadios Wealth Advisors now owns 22,310 shares of the industrial products company’s stock worth $1,052,000 after buying an additional 19,193 shares during the period. SFE Investment Counsel lifted its stake in Tetra Tech by 374.8% in the third quarter. SFE Investment Counsel now owns 36,330 shares of the industrial products company’s stock valued at $1,713,000 after buying an additional 28,679 shares during the last quarter. Caldwell Investment Management Ltd. boosted its holdings in shares of Tetra Tech by 400.0% during the third quarter. Caldwell Investment Management Ltd. now owns 46,500 shares of the industrial products company’s stock valued at $2,157,000 after acquiring an additional 37,200 shares during the period. Finally, Banque Cantonale Vaudoise grew its position in shares of Tetra Tech by 400.0% during the third quarter. Banque Cantonale Vaudoise now owns 695 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 556 shares during the last quarter. Institutional investors own 93.89% of the company’s stock.

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.