Connor Clark & Lunn Investment Management Ltd. Acquires 116,971 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 1,362.0% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 125,559 shares of the industrial products company’s stock after acquiring an additional 116,971 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Tetra Tech were worth $5,921,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Allworth Financial LP increased its holdings in shares of Tetra Tech by 629.3% during the 3rd quarter. Allworth Financial LP now owns 547 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 472 shares during the last quarter. LGT Financial Advisors LLC grew its holdings in Tetra Tech by 400.0% during the third quarter. LGT Financial Advisors LLC now owns 555 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 444 shares during the last quarter. Banque Cantonale Vaudoise acquired a new position in Tetra Tech during the second quarter valued at approximately $28,000. Venturi Wealth Management LLC raised its position in shares of Tetra Tech by 3,261.1% in the third quarter. Venturi Wealth Management LLC now owns 605 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 587 shares during the period. Finally, USA Financial Formulas lifted its stake in shares of Tetra Tech by 332.3% in the third quarter. USA Financial Formulas now owns 709 shares of the industrial products company’s stock worth $33,000 after buying an additional 545 shares during the last quarter. 93.89% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Insider Activity

In other news, CFO Steven M. Burdick sold 36,830 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 112,620 shares of the company’s stock, valued at approximately $5,244,713.40. This represents a 24.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Leslie L. Shoemaker sold 78,420 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $46.11, for a total value of $3,615,946.20. Following the completion of the sale, the executive vice president now directly owns 296,015 shares in the company, valued at approximately $13,649,251.65. This represents a 20.94 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 121,750 shares of company stock worth $5,633,239. Company insiders own 0.61% of the company’s stock.

Tetra Tech Stock Up 0.4 %

NASDAQ TTEK opened at $40.96 on Friday. Tetra Tech, Inc. has a twelve month low of $30.92 and a twelve month high of $51.20. The stock has a market cap of $10.96 billion, a PE ratio of 33.25 and a beta of 0.94. The firm has a 50-day simple moving average of $47.17 and a 200 day simple moving average of $44.62. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders 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 dividend yield of 0.57%. The ex-dividend date is Wednesday, November 27th. Tetra Tech’s payout ratio is presently 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.