Gallacher Capital Management LLC Buys New Shares in Tetra Tech, Inc. (NASDAQ:TTEK)

Gallacher Capital Management LLC bought a new stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,874 shares of the industrial products company's stock, valued at approximately $201,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Chilton Capital Management LLC bought a new position in shares of Tetra Tech during the 1st quarter valued at approximately $25,000. Caption Management LLC purchased a new stake in shares of Tetra Tech during the 4th quarter valued at approximately $40,000. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Tetra Tech during the 4th quarter valued at approximately $63,000. Johnson Financial Group Inc. purchased a new stake in shares of Tetra Tech during the 4th quarter valued at approximately $61,000. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in shares of Tetra Tech by 734.2% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,685 shares of the industrial products company's stock valued at $49,000 after buying an additional 1,483 shares in the last quarter. 93.89% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on TTEK shares. Maxim Group cut shares of Tetra Tech from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. KeyCorp increased their target price on shares of Tetra Tech from $34.00 to $41.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Finally, Robert W. Baird increased 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 currently has an average rating of "Hold" and a consensus price target of $41.00.

Tetra Tech Price Performance

NASDAQ TTEK traded up $0.10 on Friday, hitting $38.37. The stock had a trading volume of 760,543 shares, compared to its average volume of 2,476,774. The firm has a 50-day moving average of $36.06 and a 200-day moving average of $33.77. The company has a market capitalization of $10.11 billion, a price-to-earnings ratio of 55.78 and a beta of 0.94. Tetra Tech, Inc. has a 52-week low of $27.27 and a 52-week high of $51.20. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.10 and a current ratio of 1.10.

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, topping analysts' consensus estimates of $0.31 by $0.02. The firm had revenue of $1.10 billion for 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 business's revenue for the quarter was up 25.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.28 EPS. Equities analysts expect that Tetra Tech, Inc. will post 1.37 EPS for the current year.

Tetra Tech Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Friday, May 23rd were issued a $0.065 dividend. This is a positive change from Tetra Tech's previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $0.26 dividend on an annualized basis and a dividend yield of 0.68%. Tetra Tech's dividend payout ratio is presently 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.