Pictet Asset Management Holding SA Raises Stock Position in Tetra Tech, Inc. (NASDAQ:TTEK)

Pictet Asset Management Holding SA increased its position in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 2.8% in the 4th quarter, HoldingsChannel reports. The fund owned 14,018,887 shares of the industrial products company’s stock after acquiring an additional 381,437 shares during the period. Pictet Asset Management Holding SA owned approximately 0.05% of Tetra Tech worth $558,512,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Tetra Tech by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 25,912,103 shares of the industrial products company’s stock worth $1,032,338,000 after purchasing an additional 127,757 shares in the last quarter. Amundi grew its stake in Tetra Tech by 2.5% during the 4th quarter. Amundi now owns 4,873,176 shares of the industrial products company’s stock worth $194,314,000 after buying an additional 117,304 shares during the last quarter. Geode Capital Management LLC increased its position in Tetra Tech by 406.6% during the 3rd quarter. Geode Capital Management LLC now owns 4,716,080 shares of the industrial products company’s stock valued at $222,466,000 after buying an additional 3,785,189 shares in the last quarter. Norges Bank purchased a new stake in Tetra Tech in the fourth quarter valued at about $121,390,000. Finally, Corient Private Wealth LLC boosted its holdings in Tetra Tech by 14.9% in the fourth quarter. Corient Private Wealth LLC now owns 2,613,259 shares of the industrial products company’s stock worth $104,112,000 after acquiring an additional 339,839 shares in the last quarter. 93.89% of the stock is currently owned by institutional investors and hedge funds.

Tetra Tech Price Performance

Shares of NASDAQ:TTEK opened at $29.50 on Friday. Tetra Tech, Inc. has a twelve month low of $28.17 and a twelve month high of $51.20. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.53. The company has a market cap of $7.91 billion, a PE ratio of 30.99 and a beta of 0.93. The company’s 50 day moving average is $32.40 and its 200 day moving average is $40.32.

Tetra Tech (NASDAQ:TTEK) last released its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. Tetra Tech had a net margin of 4.81% and a return on equity of 22.58%. On average, sell-side analysts forecast that Tetra Tech, Inc. will post 1.37 EPS for the current year.

Tetra Tech Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were issued a dividend of $0.058 per share. This represents a $0.23 annualized dividend and a yield of 0.79%. The ex-dividend date was Wednesday, February 12th. Tetra Tech’s dividend payout ratio (DPR) is 24.21%.

Insider Activity at Tetra Tech

In other news, Director Kirsten M. Volpi sold 10,116 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $34.33, for a total transaction of $347,282.28. Following the sale, the director now owns 60,196 shares of the company’s stock, valued at $2,066,528.68. This trade represents a 14.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on TTEK shares. KeyCorp cut their price objective on shares of Tetra Tech from $49.00 to $45.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Royal Bank of Canada set a $49.00 price target on shares of Tetra Tech in a research note on Friday, January 31st. Finally, Maxim Group downgraded shares of Tetra Tech from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $47.92.

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.