Point72 Asset Management L.P. Boosts Stock Holdings in Tetra Tech, Inc. (NASDAQ:TTEK)

Point72 Asset Management L.P. increased its stake in Tetra Tech, Inc. (NASDAQ:TTEK) by 327.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,515 shares of the industrial products company’s stock after acquiring an additional 15,715 shares during the period. Point72 Asset Management L.P.’s holdings in Tetra Tech were worth $967,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CWM LLC raised its position in Tetra Tech by 20.2% in the 2nd quarter. CWM LLC now owns 304 shares of the industrial products company’s stock valued at $62,000 after purchasing an additional 51 shares in the last quarter. ELCO Management Co. LLC raised its holdings in Tetra Tech by 4.8% in the second quarter. ELCO Management Co. LLC now owns 1,313 shares of the industrial products company’s stock valued at $268,000 after acquiring an additional 60 shares in the last quarter. CIBC Asset Management Inc lifted its stake in Tetra Tech by 4.8% in the second quarter. CIBC Asset Management Inc now owns 1,524 shares of the industrial products company’s stock worth $312,000 after acquiring an additional 70 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in Tetra Tech by 4.0% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,021 shares of the industrial products company’s stock worth $413,000 after acquiring an additional 77 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Tetra Tech by 0.8% in the 2nd quarter. Victory Capital Management Inc. now owns 11,229 shares of the industrial products company’s stock valued at $2,296,000 after purchasing an additional 86 shares during the last quarter. 93.89% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Tetra Tech Stock Up 0.3 %

Tetra Tech stock opened at $42.41 on Wednesday. The stock has a 50-day simple moving average of $45.96 and a 200-day simple moving average of $44.54. The company has a market capitalization of $11.35 billion, a P/E ratio of 34.42 and a beta of 0.89. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.25 and a current ratio of 1.25. Tetra Tech, Inc. has a fifty-two week low of $31.61 and a fifty-two week high of $51.20.

Tetra Tech Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th will be given a dividend of $0.058 per share. The ex-dividend date is Wednesday, November 27th. This represents a $0.23 dividend on an annualized basis and a dividend yield of 0.55%. Tetra Tech’s dividend payout ratio (DPR) is presently 18.67%.

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.