B. Metzler seel. Sohn & Co. Holding AG Invests $2.89 Million in Tetra Tech, Inc. (NASDAQ:TTEK)

B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Tetra Tech, Inc. (NASDAQ:TTEK) in the third quarter, HoldingsChannel reports. The firm acquired 61,325 shares of the industrial products company’s stock, valued at approximately $2,892,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Sarasin & Partners LLP raised its holdings 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 valued at $233,460,000 after acquiring an additional 3,801,435 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Tetra Tech by 387.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,299,418 shares of the industrial products company’s stock valued at $155,601,000 after acquiring an additional 2,622,288 shares during the last quarter. abrdn plc boosted its position in shares of Tetra Tech by 353.0% in the third 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 during the last quarter. Copeland Capital Management LLC increased its position in Tetra Tech by 289.0% during 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. Finally, Vontobel Holding Ltd. raised its stake in Tetra Tech by 409.4% during the third quarter. Vontobel Holding Ltd. now owns 1,425,589 shares of the industrial products company’s stock worth $67,231,000 after purchasing an additional 1,145,738 shares during the period. Institutional investors and hedge funds own 93.89% of the company’s stock.

Analysts Set New Price Targets

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

Tetra Tech Stock Performance

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

Tetra Tech Announces Dividend

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 paid a dividend of $0.058 per share. This represents a $0.23 annualized dividend and a yield of 0.58%. The ex-dividend date of this dividend is Wednesday, November 27th. Tetra Tech’s payout ratio is currently 18.67%.

Insiders Place Their Bets

In other Tetra Tech news, CFO Steven M. Burdick sold 36,830 shares of the firm’s 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 sale, the chief financial officer now directly owns 112,620 shares in the company, valued at approximately $5,244,713.40. This trade represents a 24.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kimberly E. Ritrievi sold 6,500 shares of the company’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $46.48, for a total transaction of $302,120.00. Following the transaction, the director now owns 143,200 shares of the company’s stock, valued at $6,655,936. This represents a 4.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 121,750 shares of company stock valued at $5,633,239 in the last quarter. Insiders own 0.61% of the company’s stock.

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.