Cresset Asset Management LLC Trims Holdings in Tetra Tech, Inc. (NASDAQ:TTEK)

Cresset Asset Management LLC lessened its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 78.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,745 shares of the industrial products company's stock after selling 28,423 shares during the quarter. Cresset Asset Management LLC's holdings in Tetra Tech were worth $309,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. R Squared Ltd acquired a new stake in shares of Tetra Tech during the fourth quarter valued at $39,000. Asset Planning Inc purchased a new stake in shares of Tetra Tech during the fourth quarter worth about $40,000. Jones Financial Companies Lllp raised its position in shares of Tetra Tech by 98.0% in the fourth quarter. Jones Financial Companies Lllp now owns 1,000 shares of the industrial products company's stock valued at $40,000 after buying an additional 495 shares during the last quarter. Caption Management LLC purchased a new position in shares of Tetra Tech during the fourth quarter valued at approximately $40,000. Finally, Blue Trust Inc. boosted its position in Tetra Tech by 235.8% during the fourth quarter. Blue Trust Inc. now owns 1,444 shares of the industrial products company's stock worth $58,000 after acquiring an additional 1,014 shares during the last quarter. Hedge funds and other institutional investors own 93.89% of the company's stock.

Wall Street Analysts Forecast Growth

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

Tetra Tech Trading Down 0.6%

Shares of Tetra Tech stock traded down $0.20 during trading hours on Thursday, reaching $35.40. The stock had a trading volume of 485,240 shares, compared to its average volume of 2,065,883. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.53. Tetra Tech, Inc. has a 1 year low of $27.27 and a 1 year high of $51.20. The firm has a market capitalization of $9.33 billion, a price-to-earnings ratio of 37.17 and a beta of 0.92. The firm has a 50 day simple moving average of $31.03 and a two-hundred day simple moving average of $35.72.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $0.33 earnings per share (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 the consensus estimate of $1.05 billion. Tetra Tech had a return on equity of 22.58% and a net margin of 4.81%. The firm's quarterly revenue was up 25.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.28 EPS. As a group, equities research analysts anticipate that Tetra Tech, Inc. will post 1.37 earnings per share for the current year.

Tetra Tech Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders 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 dividend yield of 0.73%. This is a positive change from Tetra Tech's previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Friday, May 23rd. Tetra Tech's payout ratio is presently 37.68%.

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.