81,108 Shares in Tetra Tech, Inc. (NASDAQ:TTEK) Acquired by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. purchased a new stake in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 81,108 shares of the industrial products company's stock, valued at approximately $3,231,000.

A number of other hedge funds have also made changes to their positions in TTEK. Norges Bank purchased a new position in shares of Tetra Tech in the fourth quarter valued at $121,390,000. Capital International Investors purchased a new position in shares of Tetra Tech in the fourth quarter valued at $43,895,000. King Luther Capital Management Corp increased its position in shares of Tetra Tech by 324.0% in the fourth quarter. King Luther Capital Management Corp now owns 1,278,295 shares of the industrial products company's stock valued at $50,927,000 after buying an additional 976,810 shares in the last quarter. Teacher Retirement System of Texas increased its position in shares of Tetra Tech by 130.8% in the fourth quarter. Teacher Retirement System of Texas now owns 1,383,025 shares of the industrial products company's stock valued at $55,100,000 after buying an additional 783,736 shares in the last quarter. Finally, Bessemer Group Inc. increased its position in shares of Tetra Tech by 924.3% in the fourth quarter. Bessemer Group Inc. now owns 815,939 shares of the industrial products company's stock valued at $32,508,000 after buying an additional 736,279 shares in the last quarter. Hedge funds and other institutional investors own 93.89% of the company's stock.

Tetra Tech Trading Up 0.5%

TTEK traded up $0.19 during midday trading on Friday, hitting $35.37. The company's stock had a trading volume of 1,709,154 shares, compared to its average volume of 2,066,319. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.53. The firm has a market cap of $9.32 billion, a P/E ratio of 37.15 and a beta of 0.92. The firm has a 50-day moving average price of $30.64 and a two-hundred day moving average price of $35.90. Tetra Tech, Inc. has a 52-week low of $27.27 and a 52-week high of $51.20.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.31 by $0.02. The company had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.05 billion. Tetra Tech had a return on equity of 22.58% and a net margin of 4.81%. The firm's revenue was up 25.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.28 EPS. On average, research analysts anticipate that Tetra Tech, Inc. will post 1.37 earnings per share for the current year.

Tetra Tech Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Friday, May 23rd will be issued a dividend of $0.065 per share. The ex-dividend date is Friday, May 23rd. This represents a $0.26 dividend on an annualized basis and a dividend yield of 0.74%. This is a boost from Tetra Tech's previous quarterly dividend of $0.06. Tetra Tech's payout ratio is presently 37.68%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Royal Bank of Canada set a $49.00 price objective on Tetra Tech in a research report on Friday, January 31st. Robert W. Baird lifted their price objective on Tetra Tech from $31.00 to $33.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Maxim Group cut Tetra Tech from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. Finally, KeyCorp lifted their price objective on Tetra Tech from $34.00 to $41.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $41.00.

Tetra Tech Profile

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.