Otter Creek Advisors LLC Grows Stock Holdings in Tetra Tech, Inc. (NASDAQ:TTEK)

Otter Creek Advisors LLC lifted its position in Tetra Tech, Inc. (NASDAQ:TTEK) by 615.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 144,660 shares of the industrial products company’s stock after purchasing an additional 124,438 shares during the quarter. Tetra Tech comprises approximately 4.4% of Otter Creek Advisors LLC’s portfolio, making the stock its 5th largest holding. Otter Creek Advisors LLC’s holdings in Tetra Tech were worth $6,822,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. CWM LLC increased its stake in Tetra Tech by 20.2% in the second quarter. CWM LLC now owns 304 shares of the industrial products company’s stock valued at $62,000 after acquiring an additional 51 shares during the last quarter. ELCO Management Co. LLC boosted its position in Tetra Tech by 4.8% during the second quarter. ELCO Management Co. LLC now owns 1,313 shares of the industrial products company’s stock valued at $268,000 after buying an additional 60 shares during the period. CIBC Asset Management Inc boosted its position in Tetra Tech by 4.8% during the second quarter. CIBC Asset Management Inc now owns 1,524 shares of the industrial products company’s stock valued at $312,000 after buying an additional 70 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in Tetra Tech by 4.0% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,021 shares of the industrial products company’s stock valued at $413,000 after buying an additional 77 shares during the period. Finally, Victory Capital Management Inc. boosted its position in Tetra Tech by 0.8% during the second quarter. Victory Capital Management Inc. now owns 11,229 shares of the industrial products company’s stock valued at $2,296,000 after buying an additional 86 shares during the period. Institutional investors own 93.89% of the company’s stock.

Insider Buying and Selling at Tetra Tech

In related news, EVP Leslie L. Shoemaker sold 78,420 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 296,015 shares of the company’s stock, valued at $13,649,251.65. This trade represents a 20.94 % 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, 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 transaction of $1,715,173.10. Following the sale, the chief financial officer now directly owns 112,620 shares of the company’s stock, valued at $5,244,713.40. This trade represents a 24.64 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 121,750 shares of company stock valued at $5,633,239. Corporate insiders own 0.61% of the company’s stock.

Tetra Tech Price Performance

Shares of NASDAQ TTEK opened at $40.79 on Friday. Tetra Tech, Inc. has a fifty-two week low of $30.92 and a fifty-two week high of $51.20. The company has a 50 day simple moving average of $47.27 and a two-hundred day simple moving average of $44.63. The company has a market capitalization of $10.92 billion, a price-to-earnings ratio of 33.11 and a beta of 0.94. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.21 and a current ratio of 1.25.

Tetra Tech Announces Dividend

The firm also recently announced 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. This represents a $0.23 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend is Wednesday, November 27th. Tetra Tech’s dividend payout ratio is 18.67%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Robert W. Baird upped their price target on shares of Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. KeyCorp dropped their target price on shares of Tetra Tech from $56.00 to $49.00 and set an “overweight” rating for the company in a report on Friday, November 15th. StockNews.com lowered shares of Tetra Tech from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $52.00 target price on shares of Tetra Tech in a 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’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $49.32.

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.