Tetra Tech, Inc. (NASDAQ:TTEK) Shares Sold by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. cut its position in Tetra Tech, Inc. (NASDAQ:TTEK) by 7.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 138,386 shares of the industrial products company’s stock after selling 11,169 shares during the quarter. Sumitomo Life Insurance Co. owned 0.05% of Tetra Tech worth $5,513,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Sarasin & Partners LLP increased its stake in Tetra Tech by 330.9% during the 3rd quarter. Sarasin & Partners LLP now owns 4,950,383 shares of the industrial products company’s stock worth $233,460,000 after buying an additional 3,801,435 shares during the period. Geode Capital Management LLC increased its position in shares of Tetra Tech by 406.6% during the third quarter. Geode Capital Management LLC now owns 4,716,080 shares of the industrial products company’s stock worth $222,466,000 after acquiring an additional 3,785,189 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Tetra Tech by 387.3% in the third 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 in the last quarter. abrdn plc raised its stake 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 valued at $98,477,000 after acquiring an additional 1,644,267 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake 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 worth $97,644,000 after purchasing an additional 1,618,211 shares in the last quarter. Hedge funds and other institutional investors own 93.89% of the company’s stock.

Tetra Tech Stock Up 0.5 %

Shares of NASDAQ:TTEK opened at $38.77 on Wednesday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.44. The firm has a 50 day simple moving average of $40.96 and a 200-day simple moving average of $44.28. The company has a market capitalization of $10.39 billion, a PE ratio of 31.47 and a beta of 0.90. Tetra Tech, Inc. has a twelve month low of $31.61 and a twelve month high of $51.20.

Tetra Tech Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th were paid a $0.058 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $0.23 annualized dividend and a yield of 0.60%. Tetra Tech’s dividend payout ratio is presently 18.70%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. StockNews.com lowered shares of Tetra Tech from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Robert W. Baird increased their price objective on shares of Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. KeyCorp reduced their price objective 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. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $52.00 target price 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 assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $49.32.

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.