Loomis Sayles & Co. L P Boosts Stock Position in Tetra Tech, Inc. (NASDAQ:TTEK)

Loomis Sayles & Co. L P increased its position in Tetra Tech, Inc. (NASDAQ:TTEK) by 399.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 962,192 shares of the industrial products company’s stock after acquiring an additional 769,374 shares during the quarter. Loomis Sayles & Co. L P owned about 0.36% of Tetra Tech worth $45,377,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TTEK. Sarasin & Partners LLP boosted its stake in shares of Tetra Tech by 330.9% in the third quarter. Sarasin & Partners LLP now owns 4,950,383 shares of the industrial products company’s stock worth $233,460,000 after acquiring an additional 3,801,435 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings 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 purchasing an additional 2,622,288 shares in the last quarter. abrdn plc boosted its stake in Tetra Tech by 353.0% in the 3rd quarter. abrdn plc now owns 2,110,076 shares of the industrial products company’s stock worth $98,477,000 after purchasing an additional 1,644,267 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Tetra Tech by 357.8% during the 3rd 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 buying an additional 1,618,211 shares in the last quarter. Finally, Copeland Capital Management LLC raised its position in shares of 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 valued at $86,032,000 after buying an additional 1,355,351 shares during the last quarter. Institutional investors own 93.89% of the company’s stock.

Tetra Tech Price Performance

TTEK stock opened at $41.22 on Tuesday. The stock has a market cap of $11.04 billion, a PE ratio of 33.47 and a beta of 0.94. Tetra Tech, Inc. has a 12 month low of $30.92 and a 12 month high of $51.20. The company has a 50-day moving average price of $47.06 and a 200 day moving average price of $44.62. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.44.

Tetra Tech Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th will be paid a dividend of $0.058 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.23 dividend on an annualized basis and a dividend yield of 0.56%. Tetra Tech’s dividend payout ratio is 18.67%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. KeyCorp dropped their target price on shares of Tetra Tech from $56.00 to $49.00 and set an “overweight” rating for the company in a research report on Friday, November 15th. 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 lifted their target price on Tetra Tech from $46.00 to $47.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $52.00 price target on shares of Tetra Tech in a research note on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $49.32.

Insider Transactions at Tetra Tech

In other Tetra Tech news, Director Kimberly E. Ritrievi sold 6,500 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $46.48, for a total value of $302,120.00. Following the completion of the sale, the director now directly owns 143,200 shares of the company’s stock, valued at $6,655,936. The trade was a 4.34 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 in the company, valued at approximately $5,244,713.40. This trade represents a 24.64 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 121,750 shares of company stock worth $5,633,239. 0.61% of the stock is currently owned by company insiders.

About Tetra Tech

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.