Sumitomo Mitsui Trust Group Inc. Makes New Investment in Tetra Tech, Inc. (NASDAQ:TTEK)

Sumitomo Mitsui Trust Group Inc. purchased a new position in Tetra Tech, Inc. (NASDAQ:TTEK) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 5,000 shares of the industrial products company’s stock, valued at approximately $236,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CWM LLC raised its holdings in Tetra Tech by 20.2% during the 2nd quarter. CWM LLC now owns 304 shares of the industrial products company’s stock worth $62,000 after buying an additional 51 shares during the period. ELCO Management Co. LLC raised its holdings in Tetra Tech by 4.8% during the 2nd quarter. ELCO Management Co. LLC now owns 1,313 shares of the industrial products company’s stock worth $268,000 after buying an additional 60 shares during the period. CIBC Asset Management Inc grew its stake in Tetra Tech by 4.8% during the 2nd quarter. CIBC Asset Management Inc now owns 1,524 shares of the industrial products company’s stock valued at $312,000 after acquiring an additional 70 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in Tetra Tech by 4.0% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,021 shares of the industrial products company’s stock valued at $413,000 after acquiring an additional 77 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in Tetra Tech by 0.8% during the 2nd quarter. Victory Capital Management Inc. now owns 11,229 shares of the industrial products company’s stock valued at $2,296,000 after acquiring an additional 86 shares in the last quarter. 93.89% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Tetra Tech news, CFO Steven M. Burdick sold 36,830 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 112,620 shares of the company’s stock, valued at $5,244,713.40. This represents a 24.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kimberly E. Ritrievi sold 6,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $46.48, for a total value of $302,120.00. Following the sale, 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. Insiders sold 121,750 shares of company stock valued at $5,633,239 over the last 90 days. 0.61% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on TTEK shares. Robert W. Baird lifted their target price on Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $52.00 target price on shares of Tetra Tech in a research note on Friday, November 15th. StockNews.com cut Tetra Tech from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Finally, KeyCorp lowered their price target on Tetra Tech from $56.00 to $49.00 and set an “overweight” rating for the company in a research note on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $49.32.

Tetra Tech Trading Down 1.3 %

Shares of NASDAQ TTEK opened at $40.22 on Thursday. The stock has a market cap of $10.77 billion, a price-to-earnings ratio of 32.65 and a beta of 0.94. The business has a 50 day simple moving average of $47.27 and a 200 day simple moving average of $44.63. Tetra Tech, Inc. has a 52 week low of $30.92 and a 52 week high of $51.20. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.21 and a current ratio of 1.25.

Tetra Tech Announces Dividend

The company also recently declared 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. The ex-dividend date is Wednesday, November 27th. This represents a $0.23 annualized dividend and a dividend yield of 0.58%. Tetra Tech’s payout ratio is 18.67%.

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.