CANADA LIFE ASSURANCE Co Increases Stock Holdings in Tetra Tech, Inc. (NASDAQ:TTEK)

CANADA LIFE ASSURANCE Co increased its position in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 17.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 36,463 shares of the industrial products company’s stock after acquiring an additional 5,332 shares during the period. CANADA LIFE ASSURANCE Co’s holdings in Tetra Tech were worth $6,738,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Rise Advisors LLC bought a new stake in shares of Tetra Tech during the 1st quarter worth $27,000. Jones Financial Companies Lllp bought a new position in Tetra Tech during the fourth quarter valued at approximately $33,000. Principal Securities Inc. purchased a new stake in shares of Tetra Tech in the 4th quarter valued at $36,000. GAMMA Investing LLC bought a new position in shares of Tetra Tech during the 4th quarter valued at $38,000. Finally, Creekmur Asset Management LLC purchased a new position in Tetra Tech in the 4th quarter worth $38,000. 93.89% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $233.00 price objective on shares of Tetra Tech in a research note on Tuesday, July 9th. StockNews.com lowered Tetra Tech from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. KeyCorp boosted their price objective on Tetra Tech from $231.00 to $234.00 and gave the company an “overweight” rating in a research report on Thursday, May 23rd. Maxim Group raised their target price on shares of Tetra Tech from $234.00 to $268.00 and gave the stock a “buy” rating in a report on Thursday, May 16th. Finally, Robert W. Baird upped their price target on shares of Tetra Tech from $200.00 to $223.00 and gave the company a “neutral” rating in a report on Wednesday, May 15th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Tetra Tech currently has an average rating of “Moderate Buy” and an average target price of $236.60.

Tetra Tech Stock Performance

Shares of TTEK stock opened at $210.55 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.60. The stock has a fifty day moving average of $208.06 and a 200 day moving average of $191.81. The firm has a market capitalization of $11.26 billion, a price-to-earnings ratio of 42.62 and a beta of 0.93. Tetra Tech, Inc. has a 52 week low of $143.35 and a 52 week high of $221.40.

Tetra Tech (NASDAQ:TTEK) last released its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.13. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.03 billion. Tetra Tech had a net margin of 5.36% and a return on equity of 21.16%. Tetra Tech’s revenue was down 9.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.17 earnings per share. As a group, research analysts expect that Tetra Tech, Inc. will post 6.22 earnings per share for the current year.

Tetra Tech Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Monday, May 20th were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 0.55%. This is a positive change from Tetra Tech’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Friday, May 17th. Tetra Tech’s dividend payout ratio (DPR) is presently 23.48%.

Insider Transactions at Tetra Tech

In other Tetra Tech news, EVP Leslie L. Shoemaker sold 11,161 shares of the business’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $211.83, for a total value of $2,364,234.63. Following the sale, the executive vice president now directly owns 74,887 shares of the company’s stock, valued at $15,863,313.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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.