M&G PLC Purchases 1,450,420 Shares of Tetra Tech, Inc. $TTEK

M&G PLC boosted its position in Tetra Tech, Inc. (NASDAQ:TTEK) by 150.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,416,512 shares of the industrial products company’s stock after acquiring an additional 1,450,420 shares during the period. M&G PLC’s holdings in Tetra Tech were worth $86,994,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of TTEK. FORA Capital LLC purchased a new position in Tetra Tech during the 1st quarter valued at about $442,000. Parallel Advisors LLC grew its position in shares of Tetra Tech by 38.7% in the 2nd quarter. Parallel Advisors LLC now owns 4,408 shares of the industrial products company’s stock worth $159,000 after buying an additional 1,231 shares during the last quarter. iA Global Asset Management Inc. bought a new position in shares of Tetra Tech during the first quarter valued at approximately $12,191,000. Ameriprise Financial Inc. lifted its stake in Tetra Tech by 75.8% in the first quarter. Ameriprise Financial Inc. now owns 1,523,809 shares of the industrial products company’s stock worth $44,571,000 after acquiring an additional 656,872 shares during the period. Finally, Winslow Asset Management Inc. lifted its stake in Tetra Tech by 2.0% in the first quarter. Winslow Asset Management Inc. now owns 439,559 shares of the industrial products company’s stock worth $12,857,000 after acquiring an additional 8,659 shares during the period. Hedge funds and other institutional investors own 93.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on TTEK shares. Royal Bank Of Canada set a $47.00 target price on shares of Tetra Tech and gave the stock an “outperform” rating in a research report on Monday, September 29th. Weiss Ratings restated a “hold (c)” rating on shares of Tetra Tech in a report on Wednesday, October 8th. Wall Street Zen upgraded Tetra Tech from a “hold” rating to a “buy” rating in a report on Saturday, October 25th. KeyCorp raised their target price on Tetra Tech from $41.00 to $43.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Finally, Northcoast Research reaffirmed a “neutral” rating on shares of Tetra Tech in a research note on Wednesday, October 1st. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $41.00.

Insider Buying and Selling

In other news, Director Gary Birkenbeuel sold 2,390 shares of the stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $36.00, for a total value of $86,040.00. Following the sale, the director directly owned 37,725 shares of the company’s stock, valued at approximately $1,358,100. This represents a 5.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.40% of the company’s stock.

Tetra Tech Stock Performance

Shares of TTEK opened at $31.99 on Wednesday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.50. The stock has a market cap of $8.41 billion, a P/E ratio of 39.99 and a beta of 0.96. The business’s 50 day moving average price is $33.94 and its 200-day moving average price is $35.11. Tetra Tech, Inc. has a 52 week low of $27.27 and a 52 week high of $48.48.

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.