AEGON ASSET MANAGEMENT UK Plc Increases Stake in Tetra Tech, Inc. by 337%

During the third quarter, AEGON ASSET MANAGEMENT UK Plc significantly expanded its investment in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report), increasing its holdings by an impressive 337.0%. This information comes from the company’s latest 13F filing with the Securities and Exchange Commission (SEC). Following this acquisition, AEGON ASSET MANAGEMENT UK Plc now owns a total of 1,466,385 shares of Tetra Tech, having purchased an additional 1,130,842 shares in the period.

Tetra Tech represents approximately 0.9% of AEGON's overall investment portfolio, making it the firm's 25th largest position. As per the latest SEC filing, AEGON ASSET MANAGEMENT UK Plc's stake in Tetra Tech is valued at around $69,081,000.

Other institutional investors have also adjusted their stakes in Tetra Tech recently. For instance, during the first quarter, BI Asset Management Fondsmaeglerselskab A S increased its ownership by 3.1%, owning 2,468 shares valued at $456,000 after acquiring an additional 75 shares. Envestnet Portfolio Solutions Inc. also raised its position significantly by 88.6% in the same quarter, now holding 12,384 shares worth about $2,288,000 after adding 5,819 shares. Oppenheimer & Co. Inc. increased its stake by 4.5%, owning 8,547 shares valued at $1,579,000 after purchasing an extra 369 shares.

Moreover, Susquehanna Fundamental Investments LLC made a new investment in Tetra Tech valued at roughly $3,765,000 in the first quarter, while Sei Investments Co. lifted its stake by 3.2%, owning 97,745 shares worth about $18,054,000 due to the acquisition of an additional 3,049 shares. Notably, hedge funds and other institutional investors currently hold 93.89% of the company's stock.

Tetra Tech's Stock Performance

On Friday, NASDAQ TTEK opened at $46.81. The stock's fifty-day moving average is $47.78, while the two-hundred-day average sits at $44.33. Over the past year, Tetra Tech's share price has fluctuated, reaching a low of $30.30 and a high of $51.20. Financial indicators show a debt-to-equity ratio of 0.52, a current ratio of 1.21, and a quick ratio of 1.21. The company boasts a market capitalization of $12.53 billion and has a price-to-earnings ratio of 43.26, with a beta of 0.94.

Analyst Opinions and Price Targets

Several analysts have recently released reports concerning Tetra Tech’s stock. The Royal Bank of Canada raised its price target from $46.60 to $51.80, rating the company as “outperform” in a report dated August 2nd. StockNews.com upgraded Tetra Tech’s rating from “hold” to “buy” on October 15th. Robert W. Baird set a new price objective at $46.00 after raising it from $44.60, maintaining a “neutral” rating from a report dated August 1st. Meanwhile, KeyCorp increased its target price from $49.00 to $56.00 with an “overweight” rating on October 8th. Currently, one analyst has labeled Tetra Tech with a hold rating, while five others have given it a buy rating, resulting in a consensus rating of “Moderate Buy” and an average target price of $50.48 according to MarketBeat data.

Insider Transactions

Recently, insider activity has also been noteworthy. CFO Steven M. Burdick sold 36,830 shares on September 11th at an average price of $46.57, valuing the transaction at approximately $1,715,173.10. After this sale, Burdick retains 112,620 shares worth around $5,244,713.40, representing a negligible change in ownership. The sale was publicly reported in an SEC filing. Also, EVP Leslie L. Shoemaker disposed of 78,420 shares on September 10th, selling them at an average price of $46.11, totaling about $3,615,946.20. Following this transaction, Shoemaker now holds 296,015 shares valued at approximately $13,649,251.65. Cumulatively, insiders have sold 121,750 shares in the last three months, equivalent to about $5,633,239 in value, with company insiders owning 0.61% of the stock.

Overview of Tetra Tech

Tetra Tech, Inc. provides a range of consulting and engineering services both within the United States and globally. 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 and monitoring, data analysis, applied research, engineering design, project management, and operations maintenance, as well as consulting on climate change and energy management.

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