The Manufacturers Life Insurance Company Acquires 177,529 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

The Manufacturers Life Insurance Company boosted its stake in Tetra Tech, Inc. (NASDAQ:TTEK) by 382.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 223,952 shares of the industrial products company’s stock after acquiring an additional 177,529 shares during the period. The Manufacturers Life Insurance Company owned 0.08% of Tetra Tech worth $10,562,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its position in Tetra Tech by 7.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 28,613 shares of the industrial products company’s stock valued at $5,286,000 after acquiring an additional 2,096 shares during the period. Cetera Investment Advisers increased its stake in Tetra Tech by 90.8% during the 1st quarter. Cetera Investment Advisers now owns 8,605 shares of the industrial products company’s stock valued at $1,589,000 after purchasing an additional 4,096 shares in the last quarter. Cetera Advisors LLC purchased a new position in Tetra Tech in the 1st quarter worth approximately $208,000. GAMMA Investing LLC raised its stake in shares of Tetra Tech by 66.2% in the second quarter. GAMMA Investing LLC now owns 502 shares of the industrial products company’s stock worth $103,000 after purchasing an additional 200 shares during the last quarter. Finally, Harbor Capital Advisors Inc. lifted its stake in Tetra Tech by 298.2% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 4,985 shares of the industrial products company’s stock valued at $1,019,000 after acquiring an additional 3,733 shares during the period. 93.89% of the stock is owned by hedge funds and other institutional investors.

Tetra Tech Trading Up 0.6 %

Shares of NASDAQ:TTEK opened at $41.77 on Tuesday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $11.18 billion, a PE ratio of 33.90 and a beta of 0.89. Tetra Tech, Inc. has a 12-month low of $31.61 and a 12-month high of $51.20. The business’s fifty day simple moving average is $46.48 and its 200-day simple moving average is $44.58.

Tetra Tech Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be given a dividend of $0.058 per share. This represents a $0.23 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend is Wednesday, November 27th. Tetra Tech’s dividend payout ratio is currently 18.67%.

Analysts Set New Price Targets

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

Insider Activity at Tetra Tech

In other news, 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 value of $1,715,173.10. Following the sale, the chief financial officer now directly owns 112,620 shares of the company’s stock, valued at $5,244,713.40. The trade was a 24.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kimberly E. Ritrievi sold 6,500 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $46.48, for a total transaction of $302,120.00. Following the completion of the transaction, the director now directly owns 143,200 shares in the company, valued at approximately $6,655,936. This represents a 4.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 121,750 shares of company stock worth $5,633,239 in the last three months. Company insiders own 0.61% of the company’s stock.

Tetra Tech 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.