Sumitomo Life Insurance Co. Buys 12,285 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

Sumitomo Life Insurance Co. boosted its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 405.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,313 shares of the industrial products company’s stock after buying an additional 12,285 shares during the period. Sumitomo Life Insurance Co.’s holdings in Tetra Tech were worth $2,556,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Contravisory Investment Management Inc. acquired a new position in Tetra Tech during the 4th quarter valued at about $26,000. ST Germain D J Co. Inc. acquired a new position in shares of Tetra Tech in the second quarter valued at about $38,000. Farther Finance Advisors LLC increased its holdings in shares of Tetra Tech by 79.9% in the second quarter. Farther Finance Advisors LLC now owns 241 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 107 shares during the period. Meeder Asset Management Inc. increased its holdings in shares of Tetra Tech by 165.9% in the fourth quarter. Meeder Asset Management Inc. now owns 242 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 151 shares during the period. Finally, Millburn Ridgefield Corp acquired a new position in shares of Tetra Tech in the third quarter valued at about $37,000. 93.89% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Tetra Tech

In related news, CFO Steven M. Burdick sold 7,128 shares of the stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $165.01, for a total value of $1,176,191.28. Following the completion of the sale, the chief financial officer now owns 37,405 shares of the company’s stock, valued at $6,172,199.05. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Tetra Tech news, Director J Kenneth Thompson sold 8,400 shares of the firm’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $165.00, for a total transaction of $1,386,000.00. Following the completion of the sale, the director now owns 14,485 shares of the company’s stock, valued at $2,390,025. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Steven M. Burdick sold 7,128 shares of the firm’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $165.01, for a total value of $1,176,191.28. Following the transaction, the chief financial officer now owns 37,405 shares of the company’s stock, valued at $6,172,199.05. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,123 shares of company stock valued at $5,487,673. 0.61% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Royal Bank of Canada increased their price objective on Tetra Tech from $192.00 to $203.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. KeyCorp initiated coverage on Tetra Tech in a research note on Wednesday, January 10th. They issued an “overweight” rating and a $191.00 target price on the stock. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $197.25.

Tetra Tech Price Performance

Shares of NASDAQ TTEK traded down $2.00 during midday trading on Friday, hitting $192.00. The stock had a trading volume of 292,536 shares, compared to its average volume of 243,371. The company has a market capitalization of $10.27 billion, a PE ratio of 44.44 and a beta of 0.96. The stock has a 50 day simple moving average of $181.85 and a 200-day simple moving average of $168.06. Tetra Tech, Inc. has a 1 year low of $132.29 and a 1 year high of $194.99. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.61.

Tetra Tech (NASDAQ:TTEK) last released its earnings results on Wednesday, January 31st. The industrial products company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.05. Tetra Tech had a return on equity of 21.05% and a net margin of 4.77%. The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $974.00 million. During the same quarter last year, the business posted $1.34 earnings per share. On average, sell-side analysts expect that Tetra Tech, Inc. will post 6.07 EPS for the current fiscal year.

Tetra Tech Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 27th. Investors of record on Wednesday, February 14th were issued a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, February 13th. This represents a $1.04 annualized dividend and a dividend yield of 0.54%. Tetra Tech’s dividend payout ratio is presently 24.07%.

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.