Loomis Sayles & Co. L P Acquires 769,374 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

Loomis Sayles & Co. L P grew its stake in Tetra Tech, Inc. (NASDAQ:TTEK) by 399.0% during the third quarter, HoldingsChannel reports. The fund 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’s holdings in Tetra Tech were worth $45,377,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. CWM LLC grew its stake in Tetra Tech by 20.2% in the second quarter. CWM LLC now owns 304 shares of the industrial products company’s stock valued at $62,000 after purchasing an additional 51 shares during the last quarter. ELCO Management Co. LLC raised its stake in shares of Tetra Tech by 4.8% during the 2nd quarter. ELCO Management Co. LLC now owns 1,313 shares of the industrial products company’s stock worth $268,000 after acquiring an additional 60 shares in the last quarter. CIBC Asset Management Inc grew its holdings in Tetra Tech by 4.8% in the second quarter. CIBC Asset Management Inc now owns 1,524 shares of the industrial products company’s stock worth $312,000 after purchasing an additional 70 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Tetra Tech by 4.0% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,021 shares of the industrial products company’s stock valued at $413,000 after purchasing an additional 77 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in Tetra Tech by 0.8% during the 2nd quarter. Victory Capital Management Inc. now owns 11,229 shares of the industrial products company’s stock valued at $2,296,000 after buying an additional 86 shares in the last quarter. 93.89% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

TTEK has been the subject of several research analyst reports. 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. Royal Bank of Canada reiterated an “outperform” rating and set a $52.00 price objective on shares of Tetra Tech in a research note on Friday, November 15th. KeyCorp dropped 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, StockNews.com lowered Tetra Tech from a “buy” rating to a “hold” rating 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.32.

Insider Activity

In related news, Director Kimberly E. Ritrievi sold 6,500 shares of the business’s stock in a transaction on 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 transaction, the director now directly owns 143,200 shares in the company, valued at $6,655,936. The trade was a 4.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 transaction of $1,715,173.10. Following the sale, the chief financial officer now directly owns 112,620 shares in the company, valued at $5,244,713.40. This trade represents a 24.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 121,750 shares of company stock valued at $5,633,239 in the last quarter. 0.61% of the stock is currently owned by company insiders.

Tetra Tech Stock Up 0.6 %

NASDAQ:TTEK opened at $41.22 on Tuesday. The firm has a market capitalization of $11.04 billion, a P/E ratio of 33.47 and a beta of 0.94. The company’s fifty day moving average price is $47.06 and its 200-day moving average price is $44.62. Tetra Tech, Inc. has a 1-year low of $30.92 and a 1-year high of $51.20. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.25 and a quick ratio of 1.25.

Tetra Tech Dividend Announcement

The business 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. 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 payout ratio is currently 18.67%.

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.