Synovus Financial Corp Buys 5,868 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

Synovus Financial Corp boosted its stake in Tetra Tech, Inc. (NASDAQ:TTEK) by 400.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,335 shares of the industrial products company’s stock after acquiring an additional 5,868 shares during the period. Synovus Financial Corp’s holdings in Tetra Tech were worth $346,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Allworth Financial LP increased its stake in shares of Tetra Tech by 629.3% during the 3rd quarter. Allworth Financial LP now owns 547 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 472 shares during the last quarter. LGT Financial Advisors LLC grew its holdings in Tetra Tech by 400.0% during the third quarter. LGT Financial Advisors LLC now owns 555 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 444 shares during the period. Banque Cantonale Vaudoise purchased a new stake in Tetra Tech in the second quarter worth $28,000. Venturi Wealth Management LLC raised its stake in shares of Tetra Tech by 3,261.1% in the third quarter. Venturi Wealth Management LLC now owns 605 shares of the industrial products company’s stock valued at $29,000 after buying an additional 587 shares during the period. Finally, Canton Hathaway LLC lifted its position in shares of Tetra Tech by 400.0% during the 3rd quarter. Canton Hathaway LLC now owns 645 shares of the industrial products company’s stock valued at $30,000 after buying an additional 516 shares during the last quarter. 93.89% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Tetra Tech Price Performance

Shares of NASDAQ:TTEK opened at $40.77 on Thursday. The company has a 50 day moving average of $45.31 and a 200 day moving average of $44.49. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.44. The stock has a market cap of $10.92 billion, a P/E ratio of 33.09 and a beta of 0.88. Tetra Tech, Inc. has a 12 month low of $31.61 and a 12 month high of $51.20.

Tetra Tech Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th were issued a $0.058 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $0.23 annualized dividend and a dividend yield of 0.57%. Tetra Tech’s payout ratio is currently 18.70%.

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.