Ethic Inc. Grows Stock Holdings in Tetra Tech, Inc. (NASDAQ:TTEK)

Ethic Inc. raised its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 1,198.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,411 shares of the industrial products company's stock after acquiring an additional 26,223 shares during the quarter. Ethic Inc.'s holdings in Tetra Tech were worth $1,132,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in TTEK. Vanguard Group Inc. grew its stake in shares of Tetra Tech by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 25,912,103 shares of the industrial products company's stock worth $1,032,338,000 after acquiring an additional 127,757 shares during the last quarter. Pictet Asset Management Holding SA lifted its stake 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 buying an additional 381,437 shares in the last quarter. Amundi raised its position in shares of Tetra Tech by 2.5% during the fourth quarter. Amundi now owns 4,873,176 shares of the industrial products company's stock valued at $194,314,000 after buying an additional 117,304 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Tetra Tech by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 4,729,696 shares of the industrial products company's stock worth $188,487,000 after purchasing an additional 13,616 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Tetra Tech during the 4th quarter valued at approximately $121,390,000. Hedge funds and other institutional investors own 93.89% of the company's stock.

Analyst Ratings Changes

TTEK has been the topic of several recent analyst reports. Robert W. Baird increased their target price 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. Royal Bank of Canada set a $49.00 price target on Tetra Tech in a report on Friday, January 31st. Maxim Group lowered shares of Tetra Tech from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. Finally, KeyCorp lifted their price target on Tetra Tech from $34.00 to $41.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Three equities research 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 an average price target of $41.00.

Tetra Tech Stock Performance

Shares of NASDAQ TTEK traded down $0.12 during trading on Monday, reaching $35.26. The stock had a trading volume of 209,451 shares, compared to its average volume of 2,059,012. The firm's 50 day moving average price is $30.64 and its two-hundred day moving average price is $35.81. Tetra Tech, Inc. has a one year low of $27.27 and a one year high of $51.20. The stock has a market cap of $9.29 billion, a PE ratio of 37.00 and a beta of 0.92. 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 issued its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates of $0.31 by $0.02. The business had revenue of $1.10 billion during 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%. Tetra Tech's revenue for the quarter was up 25.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.28 earnings per share. On average, research analysts forecast that Tetra Tech, Inc. will post 1.37 earnings per share for the current fiscal year.

Tetra Tech Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Friday, May 23rd will be issued a dividend of $0.065 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $0.26 dividend on an annualized basis and a dividend yield of 0.74%. 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.