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

Artemis Investment Management LLP purchased a new stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 104,706 shares of the industrial products company's stock, valued at approximately $3,063,000.

Several other hedge funds have also made changes to their positions in TTEK. Oregon Public Employees Retirement Fund lifted its holdings 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 valued at $2,172,000 after purchasing an additional 400 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Tetra Tech by 13.0% during the fourth quarter. Farther Finance Advisors LLC now owns 4,009 shares of the industrial products company's stock valued at $160,000 after buying an additional 461 shares in the last quarter. Fifth Third Bancorp raised its position in Tetra Tech by 9.7% during the first quarter. Fifth Third Bancorp now owns 5,351 shares of the industrial products company's stock valued at $157,000 after buying an additional 475 shares during the period. Jones Financial Companies Lllp boosted its position in Tetra Tech by 98.0% during the 4th quarter. Jones Financial Companies Lllp now owns 1,000 shares of the industrial products company's stock worth $40,000 after acquiring an additional 495 shares during the period. Finally, TT International Asset Management LTD boosted its position in Tetra Tech by 3.1% during the 1st quarter. TT International Asset Management LTD now owns 16,993 shares of the industrial products company's stock worth $497,000 after acquiring an additional 515 shares during the period. Hedge funds and other institutional investors own 93.89% of the company's stock.

Tetra Tech Stock Up 0.3%

Shares of TTEK traded up $0.11 during midday trading on Tuesday, reaching $36.07. 808,539 shares of the stock were exchanged, compared to its average volume of 2,127,296. The company has a market cap of $9.50 billion, a price-to-earnings ratio of 52.48 and a beta of 0.95. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.49. Tetra Tech, Inc. has a 12-month low of $27.27 and a 12-month high of $51.20. The firm has a 50 day simple moving average of $34.39 and a 200-day simple moving average of $34.08.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last posted its earnings results on Wednesday, May 7th. The industrial products company reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.31 by $0.02. The firm had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.05 billion. Tetra Tech had a net margin of 3.44% and a return on equity of 23.31%. The company's revenue was up 25.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.28 earnings per share. Research analysts forecast that Tetra Tech, Inc. will post 1.37 EPS for the current year.

Tetra Tech Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Friday, May 23rd were issued a dividend of $0.065 per share. This is a positive change from Tetra Tech's previous quarterly dividend of $0.06. This represents a $0.26 annualized dividend and a yield of 0.72%. The ex-dividend date was Friday, May 23rd. Tetra Tech's dividend payout ratio (DPR) is 37.68%.

Analyst Upgrades and Downgrades

TTEK has been the subject of a number of research analyst reports. Robert W. Baird increased their price target on shares of Tetra Tech from $31.00 to $33.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Maxim Group lowered shares of Tetra Tech from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. Finally, KeyCorp lifted their target price on shares of Tetra Tech from $34.00 to $41.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $41.00.

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.