Duff & Phelps Investment Management Co. Increases Tetra Tech Holdings

Duff & Phelps Investment Management Co. has significantly increased its investment in Tetra Tech, Inc. (NASDAQ:TTEK) by 330.0% during the third quarter, as revealed in a recent filing with the Securities and Exchange Commission. Following this move, the institutional investor now holds 630,960 shares of the industrial products company after acquiring an additional 484,232 shares in this period. At the end of the last quarter, Duff & Phelps owned approximately 0.24% of Tetra Tech, valued at around $29,756,000.

Other significant investors have also been active in trading Tetra Tech shares. For instance, Cetera Investment Advisers raised its holdings in the company by 90.8% in the first quarter, bringing their total to 8,605 shares worth $1,589,000 after acquiring an additional 4,096 shares. Meanwhile, Cetera Advisors LLC entered the Tetra Tech landscape with a new position valued at $208,000 in the first quarter. Additionally, CWM LLC upped its stake by 20.2% during the second quarter, acquiring a total of 304 shares valued at $62,000 after purchasing an extra 51 shares. SG Americas Securities LLC made headlines with a noteworthy 510.9% increase in their position in Tetra Tech during the second quarter, now owning 7,759 shares valued at $1,587,000 after acquiring 6,489 additional shares. Lastly, Sequoia Financial Advisors LLC also escalated its holdings in Tetra Tech by 74.2% in the same timeframe, currently owning 9,513 shares valued at $1,945,000. Collectively, institutional investors and hedge funds hold approximately 93.89% of Tetra Tech's stock.

Tetra Tech Stock Overview

On Monday, Tetra Tech's stock opened at $42.69. The company's debt-to-equity ratio stands at 0.44, and both its current ratio and quick ratio are at 1.25. Tetra Tech boasts a market capitalization of $11.43 billion, a P/E ratio of 34.65, and a beta of 0.89. The stock has experienced a fifty-two week low of $31.61 and a high of $51.20. For reference, its 50-day and 200-day simple moving averages are $46.14 and $44.56, respectively.

Dividend Declaration

Tetra Tech has recently declared a quarterly dividend that is set to be paid on Friday, December 13th. Shareholders on record as of Wednesday, November 27th will receive a dividend of $0.058 per share, which translates to an annualized dividend of $0.23 and a yield of 0.54%. Notably, the ex-dividend date is also November 27th, and Tetra Tech's dividend payout ratio currently stands at 18.67%.

Insider Transactions

Recent insider transactions highlight some important activity within the company. Director Kimberly E. Ritrievi disposed of 6,500 shares on September 11th, selling them at an average price of $46.48, amounting to $302,120. Following this sale, Ritrievi owns 143,200 shares valued at approximately $6,655,936, representing a 4.34% decrease in their ownership. Furthermore, CFO Steven M. Burdick also sold a notable quantity of shares, with 36,830 shares traded on the same date at an average price of $46.57, totaling $1,715,173.10. Post-transaction, Burdick directly owns 112,620 shares valued at about $5,244,713.40, reflecting a 24.64% decrease in shareholding. Overall, insiders sold a total of 121,750 shares worth $5,633,239 during the past quarter, and company insiders collectively own about 0.61% of Tetra Tech's stock.

Analyst Opinions

Several equity research analysts have provided insights regarding Tetra Tech's market position. Royal Bank of Canada maintained an "outperform" rating and set a $52.00 price target on Tetra Tech shares in a report dated November 15th. Conversely, KeyCorp lowered their target price from $56.00 to $49.00 while keeping an "overweight" rating. StockNews.com downgraded Tetra Tech from a "buy" to a "hold" rating on the same date. Robert W. Baird, meanwhile, raised their price objective from $46.00 to $47.00, assigning a "neutral" rating. Currently, the stock holds an average rating of "Moderate Buy" with a consensus target price of $49.32 from MarketBeat, indicating a mixed but generally positive outlook from analysts.

Company Profile

Tetra Tech, Inc. is a leading provider of consulting and engineering services, both domestically within the United States and internationally. The organization operates through two primary segments: the Government Services Group (GSG), which serves various governmental bodies, and the Commercial/International Services Group (CIG), which focuses on commercial clients. The GSG segment encompasses a range of services including data collection, analysis, engineering design, project management, and climate change consulting.

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