Artemis Investment Management LLP Invests $3.06 Million in Tetra Tech, Inc. (NASDAQ:TTEK)

Artemis Investment Management LLP bought a new stake in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 104,706 shares of the industrial products company's stock, valued at approximately $3,063,000.

Several other institutional investors also recently modified their holdings of TTEK. Oregon Public Employees Retirement Fund raised its position in shares of Tetra Tech by 0.7% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 54,525 shares of the industrial products company's stock worth $2,172,000 after buying an additional 400 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of Tetra Tech by 13.0% in the fourth quarter. Farther Finance Advisors LLC now owns 4,009 shares of the industrial products company's stock worth $160,000 after buying an additional 461 shares in the last quarter. Fifth Third Bancorp raised its position in shares of Tetra Tech by 9.7% in the first quarter. Fifth Third Bancorp now owns 5,351 shares of the industrial products company's stock worth $157,000 after buying an additional 475 shares in the last quarter. Jones Financial Companies Lllp raised its position in shares of Tetra Tech by 98.0% in the fourth quarter. Jones Financial Companies Lllp now owns 1,000 shares of the industrial products company's stock worth $40,000 after buying an additional 495 shares in the last quarter. Finally, TT International Asset Management LTD raised its position in shares of Tetra Tech by 3.1% in the first quarter. TT International Asset Management LTD now owns 16,993 shares of the industrial products company's stock worth $497,000 after buying an additional 515 shares in the last quarter. 93.89% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on TTEK. Robert W. Baird raised their price target on Tetra Tech from $31.00 to $33.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. KeyCorp raised their price target on Tetra Tech from $34.00 to $41.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Finally, Maxim Group downgraded Tetra Tech from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $41.00.

Tetra Tech Price Performance

NASDAQ TTEK traded down $0.41 during trading hours on Friday, reaching $35.64. 2,886,095 shares of the stock traded hands, compared to its average volume of 2,134,497. The stock has a 50 day simple moving average of $34.27 and a two-hundred day simple moving average of $34.17. Tetra Tech, Inc. has a 1 year low of $27.27 and a 1 year high of $51.20. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.10 and a quick ratio of 1.10. The company has a market cap of $9.39 billion, a price-to-earnings ratio of 51.80 and a beta of 0.95.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.31 by $0.02. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.05 billion. Tetra Tech had a return on equity of 23.31% and a net margin of 3.44%. The company's quarterly revenue was up 25.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.28 earnings per share. On average, analysts predict that Tetra Tech, Inc. will post 1.37 EPS for the current fiscal year.

Tetra Tech Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Friday, May 23rd were issued a $0.065 dividend. The ex-dividend date was Friday, May 23rd. This represents a $0.26 annualized dividend and a dividend yield of 0.73%. This is an increase from Tetra Tech's previous quarterly dividend of $0.06. Tetra Tech's payout ratio is currently 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.