The Manufacturers Life Insurance Company Acquires 177,529 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

The Manufacturers Life Insurance Company boosted its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 382.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 223,952 shares of the industrial products company's stock after acquiring an additional 177,529 shares during the quarter. The Manufacturers Life Insurance Company owned 0.08% of Tetra Tech worth $10,562,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in TTEK. Price T Rowe Associates Inc. MD grew its position in Tetra Tech by 7.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 28,613 shares of the industrial products company's stock worth $5,286,000 after acquiring an additional 2,096 shares in the last quarter. Cetera Investment Advisers boosted its stake in shares of Tetra Tech by 90.8% during the 1st quarter. Cetera Investment Advisers now owns 8,605 shares of the industrial products company's stock worth $1,589,000 after acquiring an additional 4,096 shares in the last quarter. Cetera Advisors LLC acquired a new position in shares of Tetra Tech during the 1st quarter valued at about $208,000. GAMMA Investing LLC raised its stake in shares of Tetra Tech by 66.2% in the 2nd quarter. GAMMA Investing LLC now owns 502 shares of the industrial products company's stock valued at $103,000 after acquiring an additional 200 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its holdings in Tetra Tech by 298.2% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 4,985 shares of the industrial products company's stock worth $1,019,000 after purchasing an additional 3,733 shares during the last quarter. Institutional investors and hedge funds own 93.89% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. KeyCorp dropped their price target on shares of Tetra Tech from $56.00 to $49.00 and set an "overweight" rating on the stock in a research report on Friday, November 15th. Royal Bank of Canada reissued an "outperform" rating and set a $52.00 target price on shares of Tetra Tech in a research report on Friday, November 15th. StockNews.com lowered Tetra Tech from a "buy" rating to a "hold" rating in a research note on Friday, November 15th. Finally, Robert W. Baird raised their target price on Tetra Tech from $46.00 to $47.00 and gave the company a "neutral" rating in a report on Thursday, November 14th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $49.32.

Insider Activity

In other 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 value of $1,715,173.10. Following the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Leslie L. Shoemaker sold 78,420 shares of the business's stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $46.11, for a total value of $3,615,946.20. Following the transaction, the executive vice president now owns 296,015 shares of the company's stock, valued at $13,649,251.65. The trade was a 20.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 121,750 shares of company stock valued at $5,633,239. Company insiders own 0.61% of the company's stock.

Tetra Tech Price Performance

NASDAQ:TTEK traded up $0.81 during mid-day trading on Tuesday, reaching $42.58. 1,073,225 shares of the company were exchanged, compared to its average volume of 1,506,686. Tetra Tech, Inc. has a 12 month low of $31.61 and a 12 month high of $51.20. The stock has a market cap of $11.40 billion, a PE ratio of 33.90 and a beta of 0.89. 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 company has a fifty day moving average of $46.48 and a 200 day moving average of $44.58.

Tetra Tech Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th will be issued a dividend of $0.058 per share. This represents a $0.23 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend is Wednesday, November 27th. Tetra Tech's dividend 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.