Tetra Tech (NASDAQ:TTEK) Sees Large Volume Increase – Here’s Why

Tetra Tech, Inc. (NASDAQ:TTEK) shares saw strong trading volume on Friday . 3,662,913 shares traded hands during trading, an increase of 121% from the previous session’s volume of 1,653,698 shares.The stock last traded at $38.24 and had previously closed at $39.38.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TTEK. KeyCorp dropped their price target 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. StockNews.com lowered shares of Tetra Tech from a “buy” rating to a “hold” rating in a research 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 stock a “neutral” rating in a research report on Thursday, November 14th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $52.00 price target on shares of Tetra Tech in a research report on Friday, November 15th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Tetra Tech has an average rating of “Moderate Buy” and an average price target of $49.32.

Tetra Tech Price Performance

The company has a market capitalization of $10.21 billion, a P/E ratio of 30.95 and a beta of 0.90. The company’s 50-day moving average price is $41.14 and its two-hundred day moving average price is $44.32. 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th were given a $0.058 dividend. This represents a $0.23 annualized dividend and a dividend yield of 0.61%. The ex-dividend date was Wednesday, November 27th. Tetra Tech’s payout ratio is presently 18.67%.

Hedge Funds Weigh In On Tetra Tech

Several institutional investors and hedge funds have recently modified their holdings of TTEK. American Century Companies Inc. grew its stake in shares of Tetra Tech by 3.3% in the second quarter. American Century Companies Inc. now owns 5,841 shares of the industrial products company’s stock valued at $1,194,000 after acquiring an additional 185 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Tetra Tech by 10.2% in the second quarter. Dimensional Fund Advisors LP now owns 434,568 shares of the industrial products company’s stock valued at $88,888,000 after acquiring an additional 40,106 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Tetra Tech in the second quarter valued at about $123,000. EverSource Wealth Advisors LLC grew its stake in shares of Tetra Tech by 561.3% in the second quarter. EverSource Wealth Advisors LLC now owns 205 shares of the industrial products company’s stock valued at $44,000 after acquiring an additional 174 shares in the last quarter. Finally, Evergreen Capital Management LLC grew its stake in shares of Tetra Tech by 46.4% in the second quarter. Evergreen Capital Management LLC now owns 2,030 shares of the industrial products company’s stock valued at $415,000 after acquiring an additional 643 shares in the last quarter. 93.89% of the stock is currently owned by institutional investors and hedge funds.

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.