Driehaus Capital Management LLC Decreases Holdings in Tetra Tech, Inc. (NASDAQ:TTEK)

Driehaus Capital Management LLC lowered its position in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 11.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,603,928 shares of the industrial products company's stock after selling 204,185 shares during the period. Driehaus Capital Management LLC owned about 0.60% of Tetra Tech worth $63,900,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. R Squared Ltd bought a new position in shares of Tetra Tech during the fourth quarter valued at approximately $39,000. Asset Planning Inc bought a new position in shares of Tetra Tech during the fourth quarter valued at $40,000. Jones Financial Companies Lllp raised its position in shares of Tetra Tech by 98.0% in the 4th quarter. Jones Financial Companies Lllp now owns 1,000 shares of the industrial products company's stock worth $40,000 after purchasing an additional 495 shares during the last quarter. Caption Management LLC bought a new position in Tetra Tech in the 4th quarter worth about $40,000. Finally, Blue Trust Inc. grew its position in Tetra Tech by 235.8% during the 4th quarter. Blue Trust Inc. now owns 1,444 shares of the industrial products company's stock valued at $58,000 after purchasing an additional 1,014 shares during the last quarter. 93.89% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Tetra Tech Stock Performance

Tetra Tech stock traded up $0.61 during mid-day trading on Friday, hitting $35.49. The company had a trading volume of 5,314,918 shares, compared to its average volume of 2,042,298. Tetra Tech, Inc. has a 12-month low of $27.27 and a 12-month high of $51.20. 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's fifty day moving average is $30.07 and its 200-day moving average is $36.39. The company has a market capitalization of $9.51 billion, a price-to-earnings ratio of 37.28 and a beta of 0.92.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last posted its quarterly earnings data 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 company 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%. Tetra Tech's quarterly revenue was up 25.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.28 EPS. 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 declared a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders 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%. This is a boost from Tetra Tech's previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Friday, May 23rd. Tetra Tech's dividend payout ratio is 24.21%.

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.