CIBC Asset Management Inc Buys 6,356 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

CIBC Asset Management Inc increased its stake in Tetra Tech, Inc. (NASDAQ:TTEK) by 417.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,880 shares of the industrial products company’s stock after purchasing an additional 6,356 shares during the quarter. CIBC Asset Management Inc’s holdings in Tetra Tech were worth $372,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of TTEK. Banque Cantonale Vaudoise bought a new stake in shares of Tetra Tech in the second quarter valued at $28,000. EverSource Wealth Advisors LLC raised its stake in Tetra Tech by 561.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 205 shares of the industrial products company’s stock valued at $44,000 after acquiring an additional 174 shares during the period. Family Firm Inc. bought a new stake in Tetra Tech in the 2nd quarter valued at about $51,000. Quarry LP purchased a new stake in Tetra Tech during the second quarter valued at about $54,000. Finally, 1832 Asset Management L.P. boosted its position in Tetra Tech by 125.8% during the first quarter. 1832 Asset Management L.P. now owns 271 shares of the industrial products company’s stock worth $50,000 after purchasing an additional 151 shares during the period. Hedge funds and other institutional investors own 93.89% of the company’s stock.

Analyst Upgrades and Downgrades

TTEK has been the topic of several research reports. StockNews.com lowered shares of Tetra Tech from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Royal Bank of Canada reissued an “outperform” rating and set a $52.00 target price on shares of Tetra Tech in a report on Friday, November 15th. KeyCorp cut their price target on Tetra Tech from $56.00 to $49.00 and set an “overweight” rating for the company in a report on Friday, November 15th. Finally, Robert W. Baird boosted their price objective on Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Tetra Tech currently has an average rating of “Moderate Buy” and a consensus target price of $49.32.

Tetra Tech Stock Up 1.4 %

TTEK opened at $40.79 on Friday. The firm has a market capitalization of $10.92 billion, a P/E ratio of 33.16 and a beta of 0.94. Tetra Tech, Inc. has a one year low of $30.92 and a one year high of $51.20. The company has a fifty day moving average price of $47.27 and a 200-day moving average price of $44.63. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.25 and a quick ratio of 1.21.

Tetra Tech Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th will be paid a $0.058 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $0.23 dividend on an annualized basis and a yield of 0.57%. Tetra Tech’s dividend payout ratio is currently 18.70%.

Insider Buying and Selling at Tetra Tech

In related news, CFO Steven M. Burdick sold 36,830 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were 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 of the company’s stock, valued at $5,244,713.40. This trade represents a 24.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kimberly E. Ritrievi sold 6,500 shares of Tetra Tech stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $46.48, for a total transaction of $302,120.00. Following the sale, the director now owns 143,200 shares of the company’s stock, valued at approximately $6,655,936. The trade was a 4.34 % decrease in their ownership of the stock. 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 90 days. Corporate insiders own 0.61% of the company’s stock.

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.