Ameriprise Financial Inc. Purchases 119,804 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

Ameriprise Financial Inc. boosted its position in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 16.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 866,937 shares of the industrial products company's stock after purchasing an additional 119,804 shares during the period. Ameriprise Financial Inc. owned about 0.32% of Tetra Tech worth $34,539,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Tetra Tech by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 25,912,103 shares of the industrial products company's stock valued at $1,032,338,000 after acquiring an additional 127,757 shares during the period. Pictet Asset Management Holding SA grew its position in shares of Tetra Tech by 2.8% during the 4th quarter. Pictet Asset Management Holding SA now owns 14,018,887 shares of the industrial products company's stock valued at $558,512,000 after acquiring an additional 381,437 shares during the period. Amundi grew its position in shares of Tetra Tech by 2.5% during the 4th quarter. Amundi now owns 4,873,176 shares of the industrial products company's stock valued at $194,314,000 after acquiring an additional 117,304 shares during the period. Geode Capital Management LLC grew its position in shares of Tetra Tech by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 4,729,696 shares of the industrial products company's stock valued at $188,487,000 after acquiring an additional 13,616 shares during the period. Finally, Norges Bank purchased a new stake in shares of Tetra Tech during the 4th quarter valued at approximately $121,390,000. 93.89% of the stock is owned by institutional investors.

Tetra Tech Price Performance

Shares of Tetra Tech stock traded up $0.19 on Friday, hitting $35.37. 1,709,154 shares of the company traded hands, compared to its average volume of 2,066,319. The firm's 50-day simple moving average is $30.64 and its 200 day simple moving average is $35.81. 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 company has a market cap of $9.32 billion, a P/E ratio of 37.15 and a beta of 0.92. Tetra Tech, Inc. has a 12-month low of $27.27 and a 12-month high of $51.20.

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

Tetra Tech Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Investors 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 annualized dividend and a dividend yield of 0.74%. This is a positive change from Tetra Tech's previous quarterly dividend of $0.06. Tetra Tech's dividend payout ratio (DPR) is currently 37.68%.

Analysts Set New Price Targets

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

Tetra Tech Company 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.