The Manufacturers Life Insurance Company bought a new position in shares of Tetra Tech, Inc. (NASDAQ:TTEK – Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 187,838 shares of the industrial products company’s stock, valued at approximately $5,427,000.
Several other institutional investors also recently bought and sold shares of TTEK. Brighton Jones LLC acquired a new stake in shares of Tetra Tech during the fourth quarter worth $225,000. AQR Capital Management LLC increased its stake in Tetra Tech by 451.6% in the first quarter. AQR Capital Management LLC now owns 145,077 shares of the industrial products company’s stock valued at $4,204,000 after purchasing an additional 118,774 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Tetra Tech by 136.5% during the first quarter. Goldman Sachs Group Inc. now owns 1,658,349 shares of the industrial products company’s stock worth $48,507,000 after buying an additional 957,050 shares during the period. Geneos Wealth Management Inc. lifted its position in Tetra Tech by 136.1% during the first quarter. Geneos Wealth Management Inc. now owns 1,303 shares of the industrial products company’s stock worth $38,000 after buying an additional 751 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in Tetra Tech by 754.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,855 shares of the industrial products company’s stock worth $67,000 after buying an additional 1,638 shares during the last quarter. 93.89% of the stock is currently owned by institutional investors and hedge funds.
Tetra Tech Price Performance
TTEK stock opened at $36.14 on Tuesday. The company has a market cap of $9.25 billion, a PE ratio of 21.77 and a beta of 0.90. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.43. The stock has a 50-day moving average price of $32.92 and a two-hundred day moving average price of $31.68. Tetra Tech, Inc. has a 12-month low of $25.81 and a 12-month high of $43.14.
Tetra Tech Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 27th. Investors of record on Thursday, August 13th were given a dividend of $0.072 per share. This represents a $0.29 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Thursday, August 13th. Tetra Tech’s dividend payout ratio is 16.87%.
Analysts Set New Price Targets
Several analysts have commented on TTEK shares. Robert W. Baird set a $37.00 price target on Tetra Tech in a report on Thursday, July 30th. Wall Street Zen cut shares of Tetra Tech from a “buy” rating to a “hold” rating in a research report on Saturday, August 22nd. Weiss Ratings upgraded shares of Tetra Tech from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, August 7th. Royal Bank Of Canada dropped their price target on shares of Tetra Tech from $48.00 to $43.00 and set an “outperform” rating for the company in a research report on Wednesday, July 22nd. Finally, National Bank Financial cut their price target on shares of Tetra Tech from $38.00 to $35.00 and set an “outperform” rating on the stock in a research note on Monday, July 13th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Tetra Tech has a consensus rating of “Moderate Buy” and an average price target of $38.25.
View Our Latest Stock Report on Tetra Tech
About Tetra Tech
Tetra Tech, Inc is a leading provider of consulting and engineering services with a focus on water, environment, infrastructure, resource management and energy sectors. Headquartered in Pasadena, California, the company delivers end-to-end solutions that encompass planning, design, engineering, program management and construction management. Tetra Tech’s multidisciplinary teams integrate science, technology and advisory services to address complex challenges in areas such as water resources, environmental remediation, sustainable infrastructure and renewable energy.
The company’s core offerings include environmental assessments and cleanup, water treatment and reuse, coastal and marine engineering, climate resilience planning, and engineering design for transportation and built environments.
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