Thrivent Financial for Lutherans Buys 50,311 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

Thrivent Financial for Lutherans raised its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 386.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 63,336 shares of the industrial products company’s stock after purchasing an additional 50,311 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Tetra Tech were worth $2,987,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Mutual of America Capital Management LLC boosted its holdings in shares of Tetra Tech by 372.0% in the 3rd quarter. Mutual of America Capital Management LLC now owns 144,564 shares of the industrial products company’s stock worth $6,818,000 after purchasing an additional 113,934 shares in the last quarter. Natixis Advisors LLC lifted its position in Tetra Tech by 434.1% in the 3rd quarter. Natixis Advisors LLC now owns 88,661 shares of the industrial products company’s stock worth $4,181,000 after buying an additional 72,060 shares during the last quarter. Empowered Funds LLC bought a new position in Tetra Tech during the third quarter valued at approximately $1,308,000. First Business Financial Services Inc. raised its stake in shares of Tetra Tech by 400.0% during the third quarter. First Business Financial Services Inc. now owns 17,555 shares of the industrial products company’s stock worth $828,000 after acquiring an additional 14,044 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its holdings in shares of Tetra Tech by 417.1% in the 3rd quarter. CIBC Asset Management Inc now owns 7,880 shares of the industrial products company’s stock worth $372,000 after acquiring an additional 6,356 shares during the last quarter. 93.89% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Leslie L. Shoemaker sold 78,420 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $46.11, for a total value of $3,615,946.20. Following the sale, the executive vice president now directly owns 296,015 shares of the company’s stock, valued at $13,649,251.65. This represents a 20.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Steven M. Burdick sold 36,830 shares of Tetra Tech stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $46.57, for a total transaction of $1,715,173.10. Following the transaction, the chief financial officer now directly owns 112,620 shares of the company’s stock, 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 ninety days, insiders sold 121,750 shares of company stock worth $5,633,239. 0.61% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on TTEK. Robert W. Baird lifted their target price on shares of Tetra Tech from $46.00 to $47.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $52.00 price objective on shares of Tetra Tech in a research note on Friday, November 15th. StockNews.com cut Tetra Tech from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Finally, KeyCorp decreased their price target on Tetra Tech from $56.00 to $49.00 and set an “overweight” rating on the stock in a research note on Friday, November 15th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Tetra Tech currently has an average rating of “Moderate Buy” and a consensus price target of $49.32.

Tetra Tech Price Performance

Shares of TTEK stock opened at $41.64 on Wednesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.25 and a current ratio of 1.25. The firm has a market cap of $11.15 billion, a P/E ratio of 33.93 and a beta of 0.94. The business’s 50 day moving average price is $46.95 and its 200-day moving average price is $44.61. Tetra Tech, Inc. has a fifty-two week low of $30.92 and a fifty-two week high of $51.20.

Tetra Tech Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th will be given a dividend of $0.058 per share. This represents a $0.23 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend is Wednesday, November 27th. Tetra Tech’s payout ratio is currently 18.70%.

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.