Cubist Systematic Strategies LLC Purchases 32,202 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

Cubist Systematic Strategies LLC grew its holdings in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 10.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 332,487 shares of the industrial products company's stock after buying an additional 32,202 shares during the period. Cubist Systematic Strategies LLC owned 0.12% of Tetra Tech worth $13,246,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. R Squared Ltd acquired a new stake in shares of Tetra Tech during the 4th quarter worth about $39,000. Asset Planning Inc acquired a new stake in Tetra Tech during the 4th quarter worth approximately $40,000. Jones Financial Companies Lllp increased its position in Tetra Tech by 98.0% during the 4th quarter. Jones Financial Companies Lllp now owns 1,000 shares of the industrial products company's stock worth $40,000 after buying an additional 495 shares during the period. Caption Management LLC acquired a new stake in shares of Tetra Tech during the fourth quarter worth $40,000. Finally, Blue Trust Inc. grew its stake in shares of Tetra Tech by 235.8% in the fourth quarter. Blue Trust Inc. now owns 1,444 shares of the industrial products company's stock valued at $58,000 after acquiring an additional 1,014 shares in the last quarter. 93.89% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on TTEK shares. Royal Bank of Canada set a $49.00 target price on shares of Tetra Tech in a research report on Friday, January 31st. Robert W. Baird boosted their price target on Tetra Tech from $31.00 to $33.00 and gave the company a "neutral" rating in a research note on Thursday. Maxim Group downgraded shares of Tetra Tech from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. Finally, KeyCorp raised their target price on shares of Tetra Tech from $34.00 to $41.00 and gave the company an "overweight" rating in a report on Friday. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $44.15.

Tetra Tech Price Performance

Shares of TTEK stock traded down $0.06 on Monday, hitting $35.39. 1,124,663 shares of the company's stock were exchanged, compared to its average volume of 2,038,871. The company has a 50 day moving average of $30.07 and a 200 day moving average of $36.31. The stock has a market cap of $9.48 billion, a P/E ratio of 37.27 and a beta of 0.92. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.29 and a quick ratio of 1.29. 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 issued its earnings results on Wednesday, May 7th. The industrial products company reported $0.33 EPS for the quarter, topping 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 business's quarterly revenue was up 25.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.28 earnings per share. On average, equities research analysts predict that Tetra Tech, Inc. will post 1.37 EPS for the current year.

Tetra Tech Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Friday, May 23rd will be paid 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 (DPR) is currently 37.68%.

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.