Fernbridge Capital Management LP Purchases 313,584 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

Fernbridge Capital Management LP increased its holdings in Tetra Tech, Inc. (NASDAQ:TTEK) by 227.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 451,402 shares of the industrial products company’s stock after buying an additional 313,584 shares during the period. Tetra Tech accounts for approximately 1.3% of Fernbridge Capital Management LP’s portfolio, making the stock its 22nd largest position. Fernbridge Capital Management LP’s holdings in Tetra Tech were worth $21,288,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of TTEK. Cynosure Group LLC purchased a new position in shares of Tetra Tech in the 3rd quarter worth $365,000. Townsquare Capital LLC lifted its holdings in shares of Tetra Tech by 430.8% in the 3rd quarter. Townsquare Capital LLC now owns 6,327 shares of the industrial products company’s stock valued at $298,000 after acquiring an additional 5,135 shares during the last quarter. Thematics Asset Management grew its position in Tetra Tech by 374.0% in the third quarter. Thematics Asset Management now owns 273,750 shares of the industrial products company’s stock worth $12,910,000 after acquiring an additional 216,000 shares in the last quarter. D.A. Davidson & CO. increased its stake in Tetra Tech by 402.7% during the third quarter. D.A. Davidson & CO. now owns 40,493 shares of the industrial products company’s stock worth $1,910,000 after acquiring an additional 32,438 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in Tetra Tech by 382.4% during the third quarter. The Manufacturers Life Insurance Company now owns 223,952 shares of the industrial products company’s stock valued at $10,562,000 after purchasing an additional 177,529 shares during the period. Hedge funds and other institutional investors own 93.89% of the company’s stock.

Tetra Tech Price Performance

TTEK opened at $41.64 on Wednesday. The company has a market capitalization of $11.15 billion, a price-to-earnings ratio of 33.80 and a beta of 0.94. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.44. Tetra Tech, Inc. has a 12-month low of $30.92 and a 12-month high of $51.20. The business’s fifty day simple moving average is $46.95 and its 200-day simple moving average is $44.61.

Tetra Tech Dividend Announcement

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

Insider Activity

In other Tetra Tech news, CFO Steven M. Burdick sold 36,830 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $46.57, for a total value of $1,715,173.10. Following the completion of the sale, the chief financial officer now directly owns 112,620 shares in the company, valued at $5,244,713.40. This trade represents a 24.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Leslie L. Shoemaker sold 78,420 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $46.11, for a total value of $3,615,946.20. Following the transaction, the executive vice president now directly owns 296,015 shares in the company, valued at approximately $13,649,251.65. The trade was a 20.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 121,750 shares of company stock worth $5,633,239. Corporate insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on TTEK shares. StockNews.com cut Tetra Tech from a “buy” rating to a “hold” rating in a report on Friday, November 15th. KeyCorp dropped their price objective on shares of Tetra Tech from $56.00 to $49.00 and set an “overweight” rating for the company in a research note on Friday, November 15th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $52.00 price target on shares of Tetra Tech in a research note on Friday, November 15th. Finally, Robert W. Baird increased 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. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.32.

Tetra Tech 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.