Edgestream Partners L.P. Buys New Position in Tetra Tech, Inc. (NASDAQ:TTEK)

Edgestream Partners L.P. acquired a new position in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 241,185 shares of the industrial products company's stock, valued at approximately $7,055,000. Edgestream Partners L.P. owned approximately 0.09% of Tetra Tech as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Farther Finance Advisors LLC raised its holdings in Tetra Tech by 13.0% during the fourth quarter. Farther Finance Advisors LLC now owns 4,009 shares of the industrial products company's stock worth $160,000 after purchasing an additional 461 shares in the last quarter. Fifth Third Bancorp grew its position in shares of Tetra Tech by 9.7% in the 1st quarter. Fifth Third Bancorp now owns 5,351 shares of the industrial products company's stock valued at $157,000 after buying an additional 475 shares during the last quarter. Jones Financial Companies Lllp raised its stake 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 acquiring an additional 495 shares in the last quarter. TT International Asset Management LTD lifted its position in Tetra Tech by 3.1% in the first quarter. TT International Asset Management LTD now owns 16,993 shares of the industrial products company's stock valued at $497,000 after acquiring an additional 515 shares during the last quarter. Finally, Xponance Inc. lifted its position in Tetra Tech by 1.6% in the first quarter. Xponance Inc. now owns 43,677 shares of the industrial products company's stock valued at $1,278,000 after acquiring an additional 674 shares during the last quarter. Hedge funds and other institutional investors own 93.89% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on TTEK shares. Maxim Group lowered Tetra Tech from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. KeyCorp upped their target price on 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 lifted their price target on Tetra Tech from $31.00 to $33.00 and gave the stock a "neutral" rating in a research 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 stock. According to data from MarketBeat.com, Tetra Tech currently has an average rating of "Hold" and an average target price of $41.00.

Tetra Tech Price Performance

NASDAQ:TTEK traded up $0.48 during trading hours on Wednesday, reaching $37.14. 1,408,580 shares of the company traded hands, compared to its average volume of 2,142,018. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.10 and a quick ratio of 1.10. The firm's 50-day moving average is $35.69 and its 200-day moving average is $33.84. The stock has a market cap of $9.79 billion, a P/E ratio of 53.98 and a beta of 0.94. Tetra Tech, Inc. has a 1-year low of $27.27 and a 1-year high of $51.20.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.05 billion. Tetra Tech had a net margin of 3.44% and a return on equity of 23.31%. The company's revenue was up 25.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.28 earnings per share. Equities research analysts expect that Tetra Tech, Inc. will post 1.37 earnings per share for the current fiscal year.

Tetra Tech Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Friday, May 23rd were issued a $0.065 dividend. This represents a $0.26 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date of this dividend was Friday, May 23rd. This is a positive change from Tetra Tech's previous quarterly dividend of $0.06. Tetra Tech's dividend payout ratio (DPR) is 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.