Connor Clark & Lunn Investment Management Ltd. Sells 117,108 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

Connor Clark & Lunn Investment Management Ltd. decreased its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 93.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,451 shares of the industrial products company’s stock after selling 117,108 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Tetra Tech were worth $337,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC lifted its position in shares of Tetra Tech by 406.6% in the third quarter. Geode Capital Management LLC now owns 4,716,080 shares of the industrial products company’s stock worth $222,466,000 after buying an additional 3,785,189 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Tetra Tech by 357.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,070,483 shares of the industrial products company’s stock valued at $97,644,000 after acquiring an additional 1,618,211 shares during the last quarter. King Luther Capital Management Corp increased its position in Tetra Tech by 324.0% in the fourth quarter. King Luther Capital Management Corp now owns 1,278,295 shares of the industrial products company’s stock worth $50,927,000 after purchasing an additional 976,810 shares during the last quarter. Rockefeller Capital Management L.P. raised its stake in Tetra Tech by 365.0% during the third quarter. Rockefeller Capital Management L.P. now owns 1,138,716 shares of the industrial products company’s stock valued at $53,739,000 after purchasing an additional 893,827 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in Tetra Tech by 365.5% during the third quarter. Wellington Management Group LLP now owns 1,077,828 shares of the industrial products company’s stock valued at $50,830,000 after purchasing an additional 846,284 shares during the last quarter. 93.89% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Tetra Tech

In other Tetra Tech news, Director Kirsten M. Volpi sold 10,116 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $34.33, for a total transaction of $347,282.28. Following the transaction, the director now directly owns 60,196 shares in the company, valued at $2,066,528.68. This trade represents a 14.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.40% of the stock is currently owned by company insiders.

Tetra Tech Stock Down 0.8 %

Shares of NASDAQ TTEK opened at $29.04 on Monday. The company has a market cap of $7.78 billion, a P/E ratio of 30.50 and a beta of 0.93. The firm has a 50-day simple moving average of $33.41 and a two-hundred day simple moving average of $40.81. Tetra Tech, Inc. has a 1 year low of $28.17 and a 1 year high of $51.20. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.29 and a quick ratio of 1.29.

Tetra Tech (NASDAQ:TTEK) last posted its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. Tetra Tech had a return on equity of 22.58% and a net margin of 4.81%. Research analysts anticipate that Tetra Tech, Inc. will post 1.37 earnings per share for the current year.

Tetra Tech Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were paid a $0.058 dividend. This represents a $0.23 annualized dividend and a yield of 0.80%. The ex-dividend date was Wednesday, February 12th. Tetra Tech’s dividend payout ratio is presently 24.21%.

Analysts Set New Price Targets

TTEK has been the topic of several recent research reports. KeyCorp decreased their target price on shares of Tetra Tech from $49.00 to $45.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Royal Bank of Canada set a $49.00 price objective on Tetra Tech in a research note on Friday, January 31st. Finally, Maxim Group downgraded Tetra Tech from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $47.92.

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.