Argent Trust Co Increases Stock Holdings 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 boosted its holdings in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 61.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,206 shares of the industrial products company's stock after purchasing an additional 7,321 shares during the quarter. Argent Trust Co's holdings in Tetra Tech were worth $562,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TTEK. Commerce Bank boosted its holdings in shares of Tetra Tech by 25.5% in the first quarter. Commerce Bank now owns 93,806 shares of the industrial products company's stock valued at $2,744,000 after acquiring an additional 19,085 shares during the period. US Bancorp DE boosted its holdings in shares of Tetra Tech by 4.7% in the first quarter. US Bancorp DE now owns 18,027 shares of the industrial products company's stock valued at $527,000 after acquiring an additional 802 shares during the period. Arkadios Wealth Advisors boosted its holdings in shares of Tetra Tech by 3.0% in the first quarter. Arkadios Wealth Advisors now owns 21,314 shares of the industrial products company's stock valued at $623,000 after acquiring an additional 630 shares during the period. Federated Hermes Inc. lifted its holdings in shares of Tetra Tech by 10.8% during the first quarter. Federated Hermes Inc. now owns 470,826 shares of the industrial products company's stock worth $13,772,000 after purchasing an additional 45,939 shares during the period. Finally, Lazard Freres Gestion S.A.S. lifted its holdings in shares of Tetra Tech by 35.4% during the first quarter. Lazard Freres Gestion S.A.S. now owns 17,330 shares of the industrial products company's stock worth $506,000 after purchasing an additional 4,530 shares during the period. 93.89% of the stock is owned by institutional investors and hedge funds.

Tetra Tech Price Performance

Tetra Tech stock traded up $0.82 during midday trading on Tuesday, reaching $37.37. The company's stock had a trading volume of 2,204,351 shares, compared to its average volume of 1,831,649. Tetra Tech, Inc. has a fifty-two week low of $27.27 and a fifty-two week high of $51.20. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.10 and a current ratio of 1.18. The stock's 50 day simple moving average is $36.32 and its 200 day simple moving average is $33.49. The firm has a market capitalization of $9.82 billion, a PE ratio of 46.71 and a beta of 0.92.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last released its earnings results on Wednesday, July 30th. The industrial products company reported $0.43 EPS for the quarter, beating analysts' consensus estimates of $0.37 by $0.06. Tetra Tech had a return on equity of 24.70% and a net margin of 3.94%. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter 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. On average, equities research analysts forecast that Tetra Tech, Inc. will post 1.37 earnings per share for the current year.

Tetra Tech Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on TTEK. Robert W. Baird increased their price target on Tetra Tech from $31.00 to $33.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. KeyCorp increased their price target on Tetra Tech from $41.00 to $43.00 and gave the stock an "overweight" rating in a report on Friday. Finally, Wall Street Zen raised Tetra Tech from a "hold" rating to a "buy" rating in a report on Saturday. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Tetra Tech has a consensus rating of "Moderate Buy" and a consensus price target of $41.67.

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.