Novem Group bought a new position in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 13,763 shares of the industrial products company's stock, valued at approximately $548,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. R Squared Ltd bought a new position in Tetra Tech during the fourth quarter worth about $39,000. Asset Planning Inc acquired a new stake in shares of Tetra Tech during the fourth quarter worth about $40,000. Jones Financial Companies Lllp lifted its holdings in shares of 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 valued at $40,000 after purchasing an additional 495 shares in the last quarter. Caption Management LLC acquired a new position in shares of Tetra Tech in the 4th quarter valued at approximately $40,000. Finally, Blue Trust Inc. grew its position in shares of Tetra Tech by 235.8% in 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 period. Institutional investors own 93.89% of the company's stock.
Wall Street Analyst Weigh In
TTEK has been the topic of several research analyst reports. Royal Bank of Canada set a $49.00 target price on shares of Tetra Tech in a report on Friday, January 31st. Maxim Group downgraded shares of Tetra Tech from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. KeyCorp boosted their price objective on shares of Tetra Tech from $34.00 to $41.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Finally, Robert W. Baird upped their target price on shares of Tetra Tech from $31.00 to $33.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $41.00.
Check Out Our Latest Analysis on Tetra Tech
Tetra Tech Stock Down 1.0%
NASDAQ:TTEK traded down $0.37 during trading hours on Wednesday, reaching $35.83. 585,057 shares of the stock were exchanged, compared to its average volume of 2,077,758. 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 twelve month low of $27.27 and a twelve month high of $51.20. The stock has a market cap of $9.44 billion, a PE ratio of 37.59 and a beta of 0.92. The firm has a 50 day moving average of $31.51 and a 200 day moving average of $35.28.
Tetra Tech (NASDAQ:TTEK - Get Free Report) last released its earnings results on Wednesday, May 7th. The industrial products company reported $0.33 earnings per share for the quarter, beating analysts' consensus estimates of $0.31 by $0.02. Tetra Tech had a net margin of 4.81% and a return on equity of 22.58%. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter last year, the firm earned $0.28 earnings per share. The firm's revenue for the quarter was up 25.9% compared to the same quarter last year. On average, equities analysts expect that Tetra Tech, Inc. will post 1.37 earnings per share for the current year.
Tetra Tech Increases Dividend
The business also recently declared 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. The ex-dividend date is Friday, May 23rd. This is a boost from Tetra Tech's previous quarterly dividend of $0.06. This represents a $0.26 annualized dividend and a yield of 0.73%. Tetra Tech's dividend payout ratio is 37.68%.
Tetra Tech Profile
(
Free Report)
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.
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