M&T Bank Corp Boosts Holdings in Tetra Tech, Inc. (NASDAQ:TTEK)

M&T Bank Corp lifted its holdings in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 395.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,320 shares of the industrial products company's stock after acquiring an additional 17,811 shares during the period. M&T Bank Corp's holdings in Tetra Tech were worth $1,053,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Sarasin & Partners LLP lifted its stake in Tetra Tech by 330.9% in 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 in the last quarter. Allspring Global Investments Holdings LLC increased its stake in 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 worth $155,601,000 after acquiring an additional 2,622,288 shares during the last quarter. abrdn plc raised its holdings in shares of Tetra Tech by 353.0% during the 3rd 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 in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Tetra Tech by 357.8% in the third 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 purchasing an additional 1,618,211 shares in the last quarter. Finally, Copeland Capital Management LLC increased its position 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 worth $86,032,000 after purchasing an additional 1,355,351 shares during the last quarter. Hedge funds and other institutional investors own 93.89% of the company's stock.

Tetra Tech Stock Performance

NASDAQ:TTEK traded down $0.50 during trading hours on Monday, hitting $41.54. 1,809,294 shares of the company were exchanged, compared to its average volume of 1,524,536. The stock has a market capitalization of $11.12 billion, a price-to-earnings ratio of 34.61 and a beta of 0.88. 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 50 day moving average price is $45.61 and its 200-day moving average price is $44.51. Tetra Tech, Inc. has a 52-week low of $31.61 and a 52-week high of $51.20.

Tetra Tech Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Wednesday, November 27th were paid a $0.058 dividend. This represents a $0.23 annualized dividend and a dividend yield of 0.56%. The ex-dividend date was Wednesday, November 27th. Tetra Tech's dividend payout ratio is currently 18.70%.

Analyst Upgrades and Downgrades

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

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.