Argent Trust Co Raises Stock Position in Tetra Tech, Inc. (NASDAQ:TTEK)

Key Points

• Argent Trust Co increased its stake in Tetra Tech by 61.6%, holding a total of 19,206 shares valued at $562,000.
• Tetra Tech's quarterly revenue rose by 1.9% year over year, reaching $1.15 billion, and the company reported an earnings per share (EPS) of $0.43, surpassing estimates.
• The company announced a quarterly dividend of $0.065 per share, representing an annual yield of 0.7% for shareholders of record on August 15th.

Argent Trust Co raised its holdings in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 61.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 19,206 shares of the industrial products company's stock after acquiring an additional 7,321 shares during the period. Argent Trust Co's holdings in Tetra Tech were worth $562,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Chilton Capital Management LLC acquired a new stake in Tetra Tech during the first quarter worth about $25,000. Baillie Gifford & Co. purchased a new stake in shares of Tetra Tech in the 1st quarter valued at approximately $27,000. Caption Management LLC acquired a new stake in shares of Tetra Tech during the 4th quarter worth approximately $40,000. MassMutual Private Wealth & Trust FSB raised its position 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 during the period. Finally, Johnson Financial Group Inc. acquired a new position in Tetra Tech in the fourth quarter valued at approximately $61,000. 93.89% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Wall Street Zen raised shares of Tetra Tech from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Robert W. Baird lifted their target price on shares of Tetra Tech from $31.00 to $33.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Finally, KeyCorp raised their target price on Tetra Tech from $41.00 to $43.00 and gave the company an "overweight" rating in a 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. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $41.67.

Tetra Tech Stock Down 0.6%

Shares of Tetra Tech stock traded down $0.22 on Friday, reaching $37.02. 880,640 shares of the company were exchanged, compared to its average volume of 2,463,226. The stock's 50 day moving average price is $36.40 and its 200-day moving average price is $33.48. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.18 and a quick ratio of 1.10. Tetra Tech, Inc. has a 1-year low of $27.27 and a 1-year high of $51.20. The company has a market cap of $9.73 billion, a P/E ratio of 46.29 and a beta of 0.92.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.37 by $0.06. Tetra Tech had a net margin of 3.94% and a return on equity of 24.70%. The company had revenue of $1.15 billion during the quarter, compared to analysts' expectations of $1.15 billion. During the same quarter in the previous year, the business posted $1.59 EPS. The firm's revenue was up 1.9% on a year-over-year basis. As a group, equities analysts forecast that Tetra Tech, Inc. will post 1.37 EPS for the current year.

Tetra Tech Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be issued a $0.065 dividend. The ex-dividend date is Friday, August 15th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 0.7%. Tetra Tech's dividend payout ratio is presently 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.