Tetra Tech, Inc. (NASDAQ:TTEK) Shares Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company increased its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 382.4% during the 3rd quarter, Holdings Channel.com reports. The fund owned 223,952 shares of the industrial products company’s stock after purchasing an additional 177,529 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Tetra Tech were worth $10,562,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bank of Montreal Can boosted its stake in shares of Tetra Tech by 376.5% during the third quarter. Bank of Montreal Can now owns 176,550 shares of the industrial products company’s stock worth $8,192,000 after buying an additional 139,501 shares during the period. Private Trust Co. NA lifted its position in shares of Tetra Tech by 398.0% during the 3rd quarter. Private Trust Co. NA now owns 1,250 shares of the industrial products company’s stock valued at $59,000 after acquiring an additional 999 shares during the period. Canton Hathaway LLC boosted its position in Tetra Tech by 400.0% during the third quarter. Canton Hathaway LLC now owns 645 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 516 shares in the last quarter. Brown Brothers Harriman & Co. grew its stake in Tetra Tech by 400.0% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,080 shares of the industrial products company’s stock valued at $51,000 after acquiring an additional 864 shares during the last quarter. Finally, Loomis Sayles & Co. L P raised its position in shares of Tetra Tech by 399.0% during the 3rd quarter. Loomis Sayles & Co. L P now owns 962,192 shares of the industrial products company’s stock worth $45,377,000 after purchasing an additional 769,374 shares during the last quarter. 93.89% of the stock is owned by hedge funds and other institutional investors.

Tetra Tech Stock Up 0.6 %

Shares of Tetra Tech stock opened at $41.77 on Tuesday. Tetra Tech, Inc. has a fifty-two week low of $31.61 and a fifty-two week high of $51.20. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.44. The firm has a market cap of $11.18 billion, a P/E ratio of 33.90 and a beta of 0.89. The business has a 50-day moving average price of $46.48 and a 200 day moving average price of $44.58.

Tetra Tech Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be issued a $0.058 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $0.23 dividend on an annualized basis and a dividend yield of 0.56%. Tetra Tech’s dividend payout ratio (DPR) is presently 18.67%.

Insiders Place Their Bets

In related news, EVP Leslie L. Shoemaker sold 78,420 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $46.11, for a total value of $3,615,946.20. Following the completion of the transaction, the executive vice president now owns 296,015 shares in the company, valued at $13,649,251.65. This trade represents a 20.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Steven M. Burdick sold 36,830 shares of Tetra Tech stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $46.57, for a total transaction of $1,715,173.10. Following the completion of the transaction, the chief financial officer now directly owns 112,620 shares in the company, valued at approximately $5,244,713.40. This trade represents a 24.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 121,750 shares of company stock worth $5,633,239. Insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

TTEK has been the topic of a number of recent research reports. StockNews.com lowered shares of Tetra Tech from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Royal Bank of Canada restated an “outperform” rating and set a $52.00 target price on shares of Tetra Tech in a research report on Friday, November 15th. Robert W. Baird boosted their price target on Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Finally, KeyCorp decreased their price objective on Tetra Tech from $56.00 to $49.00 and set an “overweight” rating on the stock in a report on Friday, November 15th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $49.32.

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.