MetLife Investment Management LLC Boosts Position in Tetra Tech, Inc. (NASDAQ:TTEK)

MetLife Investment Management LLC increased its position in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 390.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 140,839 shares of the industrial products company’s stock after purchasing an additional 112,141 shares during the period. MetLife Investment Management LLC owned 0.05% of Tetra Tech worth $6,642,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Allworth Financial LP lifted its holdings in shares of Tetra Tech by 629.3% in the 3rd quarter. Allworth Financial LP now owns 547 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 472 shares during the last quarter. LGT Financial Advisors LLC boosted its position in Tetra Tech by 400.0% in the 3rd quarter. LGT Financial Advisors LLC now owns 555 shares of the industrial products company’s stock valued at $26,000 after buying an additional 444 shares during the period. Banque Cantonale Vaudoise acquired a new position in shares of Tetra Tech in the second quarter worth $28,000. Venturi Wealth Management LLC raised its stake in shares of Tetra Tech by 3,261.1% in the third quarter. Venturi Wealth Management LLC now owns 605 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 587 shares in the last quarter. Finally, Canton Hathaway LLC boosted its holdings in Tetra Tech by 400.0% in the third quarter. Canton Hathaway LLC now owns 645 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 516 shares during the period. 93.89% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Tetra Tech news, Director Kimberly E. Ritrievi sold 6,500 shares of the firm’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $46.48, for a total transaction of $302,120.00. Following the transaction, the director now directly owns 143,200 shares of the company’s stock, valued at approximately $6,655,936. This trade represents a 4.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Steven M. Burdick sold 36,830 shares of the company’s 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 completion of 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 disclosure for this sale can be found here. Insiders have sold 121,750 shares of company stock worth $5,633,239 in the last quarter. 0.61% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $52.00 price target on shares of Tetra Tech in a research report on Friday, November 15th. KeyCorp lowered their price target on shares of Tetra Tech from $56.00 to $49.00 and set an “overweight” rating for the company in a report on Friday, November 15th. Robert W. Baird increased their price objective on shares of Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Finally, StockNews.com cut shares of Tetra Tech from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Two investment 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 company presently has an average rating of “Moderate Buy” and a consensus price target of $49.32.

Tetra Tech Price Performance

Shares of NASDAQ:TTEK opened at $41.51 on Friday. Tetra Tech, Inc. has a 12 month low of $30.92 and a 12 month high of $51.20. The firm has a market capitalization of $11.11 billion, a P/E ratio of 33.69 and a beta of 0.94. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.25 and a quick ratio of 1.25. The company’s fifty day moving average price is $46.58 and its 200 day moving average price is $44.58.

Tetra Tech Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be given a $0.058 dividend. The ex-dividend date of this dividend 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%.

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.