MetLife Investment Management LLC Increases Stake in Tetra Tech, Inc. (NASDAQ:TTEK)

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

Several other large investors have also recently added to or reduced their stakes in TTEK. Sarasin & Partners LLP increased its position in Tetra Tech by 330.9% during the 3rd quarter. Sarasin & Partners LLP now owns 4,950,383 shares of the industrial products company’s stock worth $233,460,000 after purchasing an additional 3,801,435 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Tetra Tech by 387.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,299,418 shares of the industrial products company’s stock valued at $155,601,000 after buying an additional 2,622,288 shares during the period. abrdn plc grew its holdings in Tetra Tech by 353.0% during the third quarter. abrdn plc now owns 2,110,076 shares of the industrial products company’s stock worth $98,477,000 after acquiring an additional 1,644,267 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Tetra Tech by 357.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,070,483 shares of the industrial products company’s stock worth $97,644,000 after acquiring an additional 1,618,211 shares during the period. Finally, Copeland Capital Management LLC lifted its holdings in Tetra Tech by 289.0% in the third quarter. Copeland Capital Management LLC now owns 1,824,250 shares of the industrial products company’s stock valued at $86,032,000 after acquiring an additional 1,355,351 shares during the period. 93.89% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tetra Tech

In related news, CFO Steven M. Burdick sold 36,830 shares of the stock in a transaction 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 sale, the chief financial officer now owns 112,620 shares of the company’s stock, valued at $5,244,713.40. This trade represents a 24.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kimberly E. Ritrievi sold 6,500 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were 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 of the company’s stock, valued at $6,655,936. The trade was a 4.34 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 121,750 shares of company stock worth $5,633,239. 0.61% of the stock is owned by insiders.

Wall Street Analyst Weigh In

TTEK has been the topic of a number of recent analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $52.00 price target on shares of Tetra Tech in a research note on Friday, November 15th. KeyCorp dropped their target price 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 boosted their price target on Tetra Tech from $46.00 to $47.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Finally, StockNews.com downgraded Tetra Tech from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Tetra Tech has a consensus rating of “Moderate Buy” and a consensus target price of $49.32.

Tetra Tech Stock Up 0.1 %

Shares of NASDAQ TTEK opened at $41.51 on Friday. The firm’s 50-day moving average is $46.58 and its two-hundred day moving average is $44.58. The company has a market capitalization of $11.11 billion, a PE ratio of 33.69 and a beta of 0.94. Tetra Tech, Inc. has a 12-month low of $30.92 and a 12-month high of $51.20. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.25 and a quick ratio of 1.25.

Tetra Tech Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be paid a $0.058 dividend. 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 18.67%.

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.