Sarasin & Partners LLP Invests $144.80 Million in Tetra Tech, Inc. (NASDAQ:TTEK)

Sarasin & Partners LLP acquired a new position in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,950,383 shares of the industrial products company's stock, valued at approximately $144,799,000. Tetra Tech makes up about 1.4% of Sarasin & Partners LLP's investment portfolio, making the stock its 28th biggest position. Sarasin & Partners LLP owned about 1.85% of Tetra Tech at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Nicola Wealth Management LTD. raised its stake in Tetra Tech by 36.8% during the 4th quarter. Nicola Wealth Management LTD. now owns 65,000 shares of the industrial products company's stock worth $2,590,000 after buying an additional 17,500 shares during the period. Lecap Asset Management Ltd. raised its stake in shares of Tetra Tech by 71.3% in the fourth quarter. Lecap Asset Management Ltd. now owns 44,769 shares of the industrial products company's stock worth $1,784,000 after purchasing an additional 18,635 shares during the last quarter. Y Intercept Hong Kong Ltd raised its stake in shares of Tetra Tech by 53.3% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 39,150 shares of the industrial products company's stock worth $1,560,000 after purchasing an additional 13,606 shares during the last quarter. Robeco Schweiz AG raised its stake in shares of Tetra Tech by 26.5% in the fourth quarter. Robeco Schweiz AG now owns 2,449,875 shares of the industrial products company's stock worth $97,603,000 after purchasing an additional 512,931 shares during the last quarter. Finally, Asset Management One Co. Ltd. raised its stake in shares of Tetra Tech by 4.0% in the fourth quarter. Asset Management One Co. Ltd. now owns 307,996 shares of the industrial products company's stock worth $12,266,000 after purchasing an additional 11,875 shares during the last quarter. 93.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently commented on TTEK. Maxim Group downgraded Tetra Tech from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. Robert W. Baird increased their price objective on Tetra Tech from $31.00 to $33.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Finally, KeyCorp increased 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, May 9th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Tetra Tech currently has an average rating of "Hold" and an average target price of $41.00.

Tetra Tech Stock Performance

Shares of TTEK traded down $0.01 on Thursday, reaching $35.31. 555,494 shares of the company's stock traded hands, compared to its average volume of 2,094,127. 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 stock has a market cap of $9.30 billion, a PE ratio of 37.09 and a beta of 0.92. The stock's 50 day simple moving average is $32.20 and its two-hundred day simple moving average is $34.93. Tetra Tech, Inc. has a 52-week low of $27.27 and a 52-week high of $51.20.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $0.33 EPS for the quarter, beating analysts' consensus estimates of $0.31 by $0.02. The company 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%. Tetra Tech's revenue was up 25.9% on a year-over-year basis. During the same period last year, the business posted $0.28 earnings per share. On average, 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 disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Friday, May 23rd will be issued a dividend of $0.065 per share. This represents a $0.26 annualized dividend and a yield of 0.74%. This is a positive change from Tetra Tech's previous quarterly dividend of $0.06. The ex-dividend date is Friday, May 23rd. Tetra Tech's dividend payout ratio is 37.68%.

Tetra Tech 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.