Morgan Stanley increased its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 51.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 520,396 shares of the industrial products company’s stock after purchasing an additional 177,506 shares during the period. Morgan Stanley’s holdings in Tetra Tech were worth $35,544,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Steward Partners Investment Advisory LLC lifted its holdings in Tetra Tech by 303.8% in the third quarter. Steward Partners Investment Advisory LLC now owns 1,615 shares of the industrial products company’s stock valued at $110,000 after acquiring an additional 1,215 shares during the period. Tower Research Capital LLC TRC lifted its holdings in Tetra Tech by 4,747.1% in the third quarter. Tower Research Capital LLC TRC now owns 1,648 shares of the industrial products company’s stock valued at $113,000 after acquiring an additional 1,614 shares during the period. Smithfield Trust Co. lifted its holdings in Tetra Tech by 70.1% in the third quarter. Smithfield Trust Co. now owns 2,280 shares of the industrial products company’s stock valued at $156,000 after acquiring an additional 940 shares during the period. M Holdings Securities Inc. acquired a new stake in Tetra Tech in the second quarter valued at $222,000. Finally, MML Investors Services LLC acquired a new stake in Tetra Tech in the third quarter valued at $231,000. 84.49% of the stock is owned by hedge funds and other institutional investors.

In other news, CEO Dan L. Batrack sold 44,869 shares of the firm’s stock in a transaction on Thursday, November 15th. The stock was sold at an average price of $65.11, for a total value of $2,921,420.59. Following the completion of the transaction, the chief executive officer now owns 305,800 shares in the company, valued at $19,910,638. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Craig L. Christensen sold 6,750 shares of the firm’s stock in a transaction on Wednesday, November 14th. The shares were sold at an average price of $65.98, for a total value of $445,365.00. Following the completion of the transaction, the senior vice president now owns 34,400 shares of the company’s stock, valued at approximately $2,269,712. The disclosure for this sale can be found here. In the last 90 days, insiders sold 77,382 shares of company stock valued at $4,830,265. Company insiders own 3.40% of the company’s stock.

A number of equities research analysts have commented on TTEK shares. Maxim Group started coverage on Tetra Tech in a report on Tuesday, October 23rd. They issued a “buy” rating and a $87.00 target price for the company. BidaskClub downgraded Tetra Tech from a “buy” rating to a “hold” rating in a report on Saturday, November 17th. Boenning Scattergood reissued a “buy” rating and issued a $80.00 target price on shares of Tetra Tech in a report on Thursday, December 6th. Finally, Robert W. Baird raised their target price on Tetra Tech from $63.00 to $70.00 and gave the company a “hold” rating in a report on Thursday, November 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. Tetra Tech presently has an average rating of “Buy” and an average target price of $70.43.

Tetra Tech stock opened at $53.26 on Monday. Tetra Tech, Inc. has a one year low of $44.65 and a one year high of $72.56. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.70 and a quick ratio of 1.70. The firm has a market capitalization of $2.93 billion, a price-to-earnings ratio of 20.17, a price-to-earnings-growth ratio of 1.31 and a beta of 1.07.

Tetra Tech (NASDAQ:TTEK) last released its earnings results on Wednesday, November 7th. The industrial products company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.01. Tetra Tech had a return on equity of 15.80% and a net margin of 4.62%. The company had revenue of $563.67 million during the quarter, compared to the consensus estimate of $571.33 million. During the same quarter last year, the company earned $0.63 earnings per share. Tetra Tech’s quarterly revenue was up 5.7% compared to the same quarter last year. On average, analysts predict that Tetra Tech, Inc. will post 2.88 earnings per share for the current year.

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About Tetra Tech

Tetra Tech, Inc provides consulting and engineering services worldwide. It operates through Government Services Group (GSG) and Commercial/International Services Group (CIG) segments. The GSG segment offers early data collection and monitoring, data analysis and information technology, science and engineering applied research, engineering design, construction 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.

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Institutional Ownership by Quarter for Tetra Tech (NASDAQ:TTEK)

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