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

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

Tetra Tech Stock Performance

TTEK stock opened at $41.51 on Friday. 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 has a 1 year low of $30.92 and a 1 year high of $51.20. The company has a market cap of $11.11 billion, a P/E ratio of 33.69 and a beta of 0.94. The stock’s fifty day moving average price is $46.58 and its 200-day moving average price is $44.58.

Tetra Tech Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Robert W. Baird boosted their price target on Tetra Tech from $46.00 to $47.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. StockNews.com cut Tetra Tech from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $52.00 price target on shares of Tetra Tech in a research report on Friday, November 15th. Finally, KeyCorp cut their price objective on shares of Tetra Tech from $56.00 to $49.00 and set an “overweight” rating on the stock in a research report on Friday, November 15th. Two investment 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, Tetra Tech presently has an average rating of “Moderate Buy” and a consensus target price of $49.32.

Insiders Place Their Bets

In other Tetra Tech news, Director Kimberly E. Ritrievi sold 6,500 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $46.48, for a total transaction of $302,120.00. Following the completion of the transaction, the director now owns 143,200 shares of the company’s stock, valued at approximately $6,655,936. This trade represents a 4.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Leslie L. Shoemaker sold 78,420 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were 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 owns 296,015 shares in the company, valued at approximately $13,649,251.65. This trade represents a 20.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 121,750 shares of company stock worth $5,633,239 over the last three months. Company insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On Tetra Tech

Several institutional investors have recently made changes to their positions in the business. Sarasin & Partners LLP increased its holdings in Tetra Tech by 330.9% during the third 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 during the last quarter. Geode Capital Management LLC increased its stake in shares of Tetra Tech by 406.6% in the 3rd quarter. Geode Capital Management LLC now owns 4,716,080 shares of the industrial products company’s stock worth $222,466,000 after purchasing an additional 3,785,189 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Tetra Tech by 387.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,299,418 shares of the industrial products company’s stock worth $155,601,000 after purchasing an additional 2,622,288 shares during the period. abrdn plc grew its holdings 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 purchasing an additional 1,644,267 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Tetra Tech by 357.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,070,483 shares of the industrial products company’s stock worth $97,644,000 after buying an additional 1,618,211 shares in the last quarter. Institutional investors own 93.89% of the company’s stock.

Tetra Tech Company 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.