Tetra Tech, Inc. (NASDAQ:TTEK) Shares Sold by Cresset Asset Management LLC

Cresset Asset Management LLC cut its holdings in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 78.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,745 shares of the industrial products company's stock after selling 28,423 shares during the period. Cresset Asset Management LLC's holdings in Tetra Tech were worth $309,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Relyea Zuckerberg Hanson LLC raised its holdings in shares of Tetra Tech by 367.4% in the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 76,460 shares of the industrial products company's stock worth $3,046,000 after acquiring an additional 60,103 shares during the last quarter. Merit Financial Group LLC acquired a new position in shares of Tetra Tech in the fourth quarter worth $361,000. HB Wealth Management LLC acquired a new position in shares of Tetra Tech in the fourth quarter worth $299,000. Crossmark Global Holdings Inc. raised its holdings in shares of Tetra Tech by 353.1% in the fourth quarter. Crossmark Global Holdings Inc. now owns 94,429 shares of the industrial products company's stock worth $3,762,000 after acquiring an additional 73,589 shares during the last quarter. Finally, Perpetual Ltd raised its holdings in shares of Tetra Tech by 9.6% in the fourth quarter. Perpetual Ltd now owns 215,042 shares of the industrial products company's stock worth $8,567,000 after acquiring an additional 18,842 shares during the last quarter. 93.89% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on TTEK shares. Royal Bank of Canada set a $49.00 price target on Tetra Tech in a report on Friday, January 31st. KeyCorp boosted their price target on Tetra Tech from $34.00 to $41.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Robert W. Baird upped their target price on Tetra Tech from $31.00 to $33.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Finally, Maxim Group lowered Tetra Tech from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Tetra Tech presently has a consensus rating of "Hold" and a consensus target price of $41.00.

Tetra Tech Trading Up 0.5%

Tetra Tech stock traded up $0.18 during trading on Tuesday, hitting $35.45. The company's stock had a trading volume of 1,538,297 shares, compared to its average volume of 2,061,232. The stock has a market capitalization of $9.34 billion, a price-to-earnings ratio of 37.24 and a beta of 0.92. The stock's fifty day moving average is $30.77 and its 200 day moving average is $35.72. Tetra Tech, Inc. has a 1-year low of $27.27 and a 1-year high of $51.20. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.29 and a current ratio of 1.29.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last released its 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 firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.05 billion. Tetra Tech had a return on equity of 22.58% and a net margin of 4.81%. The business's quarterly revenue was up 25.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.28 earnings per share. As a group, equities research analysts predict that Tetra Tech, Inc. will post 1.37 EPS for the current 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 given a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date is Friday, May 23rd. This is an increase from Tetra Tech's previous quarterly dividend of $0.06. Tetra Tech's dividend payout ratio is 37.68%.

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.