Perbak Capital Partners LLP Takes $269,000 Position in Tetra Tech, Inc. (NASDAQ:TTEK)

Perbak Capital Partners LLP acquired a new stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 6,753 shares of the industrial products company’s stock, valued at approximately $269,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in TTEK. R Squared Ltd purchased a new stake in Tetra Tech in the fourth quarter worth $39,000. Asset Planning Inc bought a new position in Tetra Tech in the 4th quarter worth $40,000. Jones Financial Companies Lllp lifted its stake in shares of Tetra Tech by 98.0% during the 4th quarter. Jones Financial Companies Lllp now owns 1,000 shares of the industrial products company’s stock valued at $40,000 after buying an additional 495 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Tetra Tech by 235.8% during the fourth quarter. Blue Trust Inc. now owns 1,444 shares of the industrial products company’s stock worth $58,000 after acquiring an additional 1,014 shares during the last quarter. Finally, Johnson Financial Group Inc. bought a new stake in Tetra Tech in the fourth quarter worth $61,000. Hedge funds and other institutional investors own 93.89% of the company’s stock.

Insider Activity at Tetra Tech

In related news, Director Kirsten M. Volpi sold 10,116 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $34.33, for a total transaction of $347,282.28. Following the completion of the sale, the director now directly owns 60,196 shares in the company, valued at approximately $2,066,528.68. This trade represents a 14.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.40% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on TTEK shares. Maxim Group downgraded Tetra Tech from a “strong-buy” rating to a “hold” rating in a report on Friday, April 4th. KeyCorp dropped their price objective on shares of Tetra Tech from $45.00 to $34.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Finally, Royal Bank of Canada set a $49.00 price objective on Tetra Tech in a research report on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Tetra Tech presently has an average rating of “Moderate Buy” and a consensus target price of $45.72.

Tetra Tech Stock Performance

Shares of TTEK opened at $31.20 on Tuesday. The company has a market capitalization of $8.36 billion, a price-to-earnings ratio of 32.77 and a beta of 0.89. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.29 and a current ratio of 1.29. Tetra Tech, Inc. has a 1 year low of $27.27 and a 1 year high of $51.20. The company’s 50 day simple moving average is $29.65 and its 200 day simple moving average is $37.37.

Tetra Tech (NASDAQ:TTEK) last announced its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.34 by $0.01. Tetra Tech had a return on equity of 22.58% and a net margin of 4.81%. On average, sell-side analysts predict that Tetra Tech, Inc. will post 1.37 EPS for the current year.

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.