M&T Bank Corp Purchases 17,811 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

M&T Bank Corp boosted its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 395.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,320 shares of the industrial products company’s stock after acquiring an additional 17,811 shares during the period. M&T Bank Corp’s holdings in Tetra Tech were worth $1,053,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Allworth Financial LP lifted its holdings in shares of Tetra Tech by 629.3% during the 3rd quarter. Allworth Financial LP now owns 547 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 472 shares in the last quarter. LGT Financial Advisors LLC lifted its stake in Tetra Tech by 400.0% in the third quarter. LGT Financial Advisors LLC now owns 555 shares of the industrial products company’s stock valued at $26,000 after buying an additional 444 shares in the last quarter. Banque Cantonale Vaudoise acquired a new position in shares of Tetra Tech in the second quarter valued at approximately $28,000. Venturi Wealth Management LLC increased its position in shares of Tetra Tech by 3,261.1% during the third quarter. Venturi Wealth Management LLC now owns 605 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 587 shares in the last quarter. Finally, Canton Hathaway LLC raised its holdings in shares of Tetra Tech by 400.0% during the third quarter. Canton Hathaway LLC now owns 645 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 516 shares during the period. 93.89% of the stock is owned by institutional investors and hedge funds.

Tetra Tech Stock Performance

Shares of NASDAQ TTEK opened at $42.04 on Monday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.25 and a current ratio of 1.25. The stock has a 50 day moving average price of $45.61 and a 200 day moving average price of $44.51. The stock has a market capitalization of $11.26 billion, a PE ratio of 34.12 and a beta of 0.88. Tetra Tech, Inc. has a 52 week low of $31.61 and a 52 week high of $51.20.

Tetra Tech Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors 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 dividend yield of 0.55%. Tetra Tech’s dividend payout ratio is presently 18.67%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TTEK. Robert W. Baird upped their target price on shares of Tetra Tech from $46.00 to $47.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. StockNews.com downgraded Tetra Tech from a “buy” rating to a “hold” rating in a report on Friday, November 15th. KeyCorp dropped their target price on Tetra Tech from $56.00 to $49.00 and set an “overweight” rating on the stock in a research report on Friday, November 15th. Finally, Royal Bank of Canada reaffirmed 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.