Klingman & Associates LLC Invests in Tetra Tech, Inc.

Klingman & Associates LLC has made a significant investment in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report), according to their latest Form 13F filing with the SEC. In the third quarter, the firm acquired a total of 33,850 shares of Tetra Tech, which amounts to an investment valued at approximately $1,596,000. This move highlights the growing interest of institutional investors in Tetra Tech's stock.

In addition to Klingman & Associates, several other hedge funds and institutional investors have modified their holdings in Tetra Tech recently. For instance, the Vanguard Group Inc. increased its position by 0.3% during the first quarter. Vanguard now holds 5,168,554 shares, worth around $954.7 million, after purchasing an additional 14,701 shares in the last quarter.

Also noteworthy is Sarasin & Partners LLP, which raised its stake in Tetra Tech by a remarkable 330.9% during the third quarter, acquiring 3,801,435 additional shares for a total of 4,950,383 shares valued at $233.5 million. Similarly, Allspring Global Investments Holdings LLC grew its position by 387.3%, now owning 3,299,418 shares worth approximately $155.6 million after buying an additional 2,622,288 shares.

Moreover, abrdn plc increased its stake by 353.0%, now possessing 2,110,076 shares valued at $98.5 million after buying 1,644,267 more shares. Copeland Capital Management LLC also made significant moves, raising its position by 289.0% and holding 1,824,250 shares worth $86.0 million after an additional purchase of 1,355,351 shares.

Currently, institutional investors and hedge funds control about 93.89% of Tetra Tech's stock, indicating strong institutional support for the company.

Recent Analyst Ratings

A number of analysts have provided updates on Tetra Tech's stock. For instance, Royal Bank of Canada raised its price target from $46.60 to $51.80, rating the stock as "outperform" in a report published on August 2nd. StockNews.com upgraded its rating from "hold" to "buy" on October 15th. KeyCorp also boosted its target from $49.00 to $56.00, categorizing the stock as "overweight" in an October 8th report. Additionally, Robert W. Baird increased its target price from $44.60 to $46.00 while maintaining a "neutral" rating.

Overall, one analyst has rated Tetra Tech as a hold, while five analysts have issued buy ratings. MarketBeat indicates that the stock has an average rating of "Moderate Buy" and a target price of about $50.48.

Tetra Tech's Stock Performance

As of the latest trading session, shares of Tetra Tech (NASDAQ:TTEK) opened at $46.81. The company has a market capitalization of $12.53 billion and a price-to-earnings (PE) ratio of 43.26, with a beta of 0.94. Its stock has experienced significant fluctuations, with a 52-week low of $30.30 and a high of $51.20. The fifty-day moving average stands at $47.78, while the 200-day moving average is currently $44.33. Tetra Tech maintains a debt-to-equity ratio of 0.52, and both its quick and current ratios are 1.21.

Insider Transactions

Recent insider transactions at Tetra Tech have also made headlines. CFO Steven M. Burdick sold 36,830 shares on September 11th at an average price of $46.57, totaling $1,715,173. Following this transaction, he continues to hold 112,620 shares, worth $5,244,713.46. Furthermore, EVP Leslie L. Shoemaker sold 78,420 shares on September 10th at an average price of $46.11, amounting to $3,615,946.20. After this sale, she retains 296,015 shares valued at approximately $13.6 million. Total insider sales in the last quarter reached 121,750 shares, valued at about $5.6 million, showing that insiders own around 0.61% of the company's stock.

About Tetra Tech

Tetra Tech, Inc. specializes in consulting and engineering services across various sectors, both in the U.S. and internationally. The company operates through two primary segments: the Government Services Group (GSG) and the Commercial/International Services Group (CIG). The GSG segment focuses on early data collection, data analysis, engineering design, and project management, among other services. They also provide consulting for climate change and energy management, helping clients with greenhouse gas inventories and sustainability initiatives.

Conclusion

With consistent support from institutional investors, positive analyst outlook, and proactive insider management, Tetra Tech appears to be a strong player in its field.

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