Zions Bancorporation National Association UT Takes Position in Tetra Tech, Inc. (NASDAQ:TTEK)

Key Points

• Zions Bancorporation National Association UT purchased 94,162 shares of Tetra Tech, Inc. (NASDAQ:TTEK) during the 1st quarter, valued at approximately $2.75 million.
• Tetra Tech reported $0.43 EPS for the last quarter, exceeding analysts' expectations, with revenue of $1.15 billion, marking a 1.9% year-over-year increase.
• The company announced a quarterly dividend of $0.065 per share, representing an annual yield of 0.7% with a payout ratio of 32.50%.

Zions Bancorporation National Association UT purchased a new position in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 94,162 shares of the industrial products company's stock, valued at approximately $2,754,000.

Several other institutional investors have also modified their holdings of the business. National Bank of Canada FI raised its stake in Tetra Tech by 50.4% during the first quarter. National Bank of Canada FI now owns 212,462 shares of the industrial products company's stock valued at $6,214,000 after buying an additional 71,223 shares in the last quarter. CenterBook Partners LP increased its position in Tetra Tech by 191.9% in the 1st quarter. CenterBook Partners LP now owns 201,986 shares of the industrial products company's stock valued at $5,908,000 after acquiring an additional 132,781 shares during the period. Headlands Technologies LLC boosted its stake in Tetra Tech by 253.8% during the 1st quarter. Headlands Technologies LLC now owns 28,745 shares of the industrial products company's stock valued at $841,000 after purchasing an additional 20,621 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Tetra Tech by 2.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,131,293 shares of the industrial products company's stock valued at $62,340,000 after purchasing an additional 49,454 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in Tetra Tech by 4.9% during the 1st quarter. Vanguard Group Inc. now owns 27,185,795 shares of the industrial products company's stock valued at $795,185,000 after purchasing an additional 1,273,692 shares in the last quarter. Institutional investors and hedge funds own 93.89% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on TTEK shares. Robert W. Baird increased their price objective on Tetra Tech from $31.00 to $33.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Wall Street Zen upgraded Tetra Tech from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Finally, KeyCorp increased their price objective on Tetra Tech from $41.00 to $43.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $41.67.

Tetra Tech Stock Down 0.2%

Shares of NASDAQ:TTEK traded down $0.08 during midday trading on Tuesday, hitting $36.74. 1,852,437 shares of the stock were exchanged, compared to its average volume of 2,457,077. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.18 and a current ratio of 1.18. Tetra Tech, Inc. has a 52-week low of $27.27 and a 52-week high of $51.20. The business's fifty day simple moving average is $36.48 and its two-hundred day simple moving average is $33.33. The company has a market capitalization of $9.65 billion, a PE ratio of 45.93 and a beta of 0.92.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.06. Tetra Tech had a return on equity of 24.70% and a net margin of 3.94%. The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same period last year, the company earned $1.59 earnings per share. Tetra Tech's quarterly revenue was up 1.9% compared to the same quarter last year. As a group, research analysts predict that Tetra Tech, Inc. will post 1.37 earnings per share for the current fiscal year.

Tetra Tech Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be given a $0.065 dividend. This represents a $0.26 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, August 15th. Tetra Tech's dividend payout ratio (DPR) is currently 32.50%.

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.