MetLife Investment Management LLC Purchases 112,141 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

MetLife Investment Management LLC lifted its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 390.8% in the third 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 quarter. MetLife Investment Management LLC owned approximately 0.05% of Tetra Tech worth $6,642,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Corsair Capital Management L.P. raised its holdings in Tetra Tech by 17.6% in the third quarter. Corsair Capital Management L.P. now owns 66,825 shares of the industrial products company's stock worth $3,151,000 after purchasing an additional 10,000 shares in the last quarter. Glenmede Trust Co. NA increased its holdings in shares of Tetra Tech by 404.7% during the third quarter. Glenmede Trust Co. NA now owns 11,604 shares of the industrial products company's stock valued at $547,000 after acquiring an additional 9,305 shares in the last quarter. Freedom Investment Management Inc. increased its holdings in shares of Tetra Tech by 530.3% during the third quarter. Freedom Investment Management Inc. now owns 24,556 shares of the industrial products company's stock valued at $1,158,000 after acquiring an additional 20,660 shares in the last quarter. Fernbridge Capital Management LP increased its holdings in shares of Tetra Tech by 227.5% during the third quarter. Fernbridge Capital Management LP now owns 451,402 shares of the industrial products company's stock valued at $21,288,000 after acquiring an additional 313,584 shares in the last quarter. Finally, Cynosure Group LLC bought a new position in shares of Tetra Tech during the third quarter valued at $365,000. Institutional investors own 93.89% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on TTEK. StockNews.com downgraded Tetra Tech from a "buy" rating to a "hold" rating in a report on Friday, November 15th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $52.00 price objective on shares of Tetra Tech in a research report on Friday, November 15th. Robert W. Baird increased their price objective on Tetra Tech from $46.00 to $47.00 and gave the company a "neutral" rating in a research report on Thursday, November 14th. Finally, KeyCorp dropped their price objective on Tetra Tech from $56.00 to $49.00 and set an "overweight" rating on the stock in a research report on Friday, November 15th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $49.32.

Insider Transactions at Tetra Tech

In related news, EVP Leslie L. Shoemaker sold 78,420 shares of Tetra Tech stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $46.11, for a total transaction of $3,615,946.20. Following the sale, the executive vice president now owns 296,015 shares of the company's stock, valued at approximately $13,649,251.65. This trade represents a 20.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Steven M. Burdick sold 36,830 shares of Tetra Tech stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $46.57, for a total value of $1,715,173.10. Following the sale, the chief financial officer now directly owns 112,620 shares in the company, valued at $5,244,713.40. This trade represents a 24.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 121,750 shares of company stock valued at $5,633,239 over the last quarter. 0.61% of the stock is currently owned by company insiders.

Tetra Tech Stock Performance

NASDAQ:TTEK traded up $0.04 on Friday, hitting $41.51. The stock had a trading volume of 1,335,703 shares, compared to its average volume of 2,900,699. The stock has a market cap of $11.11 billion, a price-to-earnings ratio of 33.75 and a beta of 0.94. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.44. The business's 50-day simple moving average is $46.58 and its two-hundred day simple moving average is $44.58. Tetra Tech, Inc. has a 52-week low of $30.92 and a 52-week high of $51.20.

Tetra Tech Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders 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 annualized dividend and a yield of 0.56%. Tetra Tech's payout ratio is 18.70%.

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.