Bank Julius Baer & Co. Ltd Zurich trimmed its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 54.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,060 shares of the industrial products company's stock after selling 13,328 shares during the period. Bank Julius Baer & Co. Ltd Zurich's holdings in Tetra Tech were worth $324,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Tetra Tech by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 25,912,103 shares of the industrial products company's stock valued at $1,032,338,000 after purchasing an additional 127,757 shares during the last quarter. Pictet Asset Management Holding SA raised its stake in Tetra Tech by 3.5% during the 1st quarter. Pictet Asset Management Holding SA now owns 14,502,940 shares of the industrial products company's stock valued at $424,209,000 after acquiring an additional 484,053 shares during the last quarter. Sarasin & Partners LLP purchased a new stake in Tetra Tech during the 1st quarter valued at approximately $144,799,000. Geode Capital Management LLC raised its stake in Tetra Tech by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 4,729,696 shares of the industrial products company's stock valued at $188,487,000 after acquiring an additional 13,616 shares during the last quarter. Finally, Robeco Schweiz AG raised its stake in Tetra Tech by 30.3% during the 1st quarter. Robeco Schweiz AG now owns 3,192,116 shares of the industrial products company's stock valued at $93,369,000 after acquiring an additional 742,241 shares during the last quarter. 93.89% of the stock is owned by hedge funds and other institutional investors.
Tetra Tech Stock Performance
NASDAQ TTEK traded down $0.67 on Monday, hitting $37.63. 304,881 shares of the company's stock were exchanged, compared to its average volume of 2,465,947. 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 firm's 50-day moving average price is $36.12 and its two-hundred day moving average price is $33.67. Tetra Tech, Inc. has a fifty-two week low of $27.27 and a fifty-two week high of $51.20. The firm has a market cap of $9.92 billion, a price-to-earnings ratio of 54.76 and a beta of 0.94.
Tetra Tech (NASDAQ:TTEK - Get Free Report) last released its earnings results on Wednesday, May 7th. The industrial products company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.02. Tetra Tech had a return on equity of 23.31% and a net margin of 3.44%. The company had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.05 billion. During the same quarter in the previous year, the firm posted $0.28 EPS. The firm's quarterly revenue was up 25.9% on a year-over-year basis. On average, research analysts expect that Tetra Tech, Inc. will post 1.37 EPS for the current year.
Tetra Tech Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Friday, May 23rd were given a dividend of $0.065 per share. This is a boost from Tetra Tech's previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $0.26 annualized dividend and a yield of 0.69%. Tetra Tech's payout ratio is presently 37.68%.
Analyst Upgrades and Downgrades
Several research firms have commented on TTEK. KeyCorp upped their price objective on Tetra Tech from $34.00 to $41.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Robert W. Baird upped their price objective on Tetra Tech from $31.00 to $33.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Finally, Maxim Group downgraded Tetra Tech from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $41.00.
Check Out Our Latest Report on Tetra Tech
Tetra Tech Company Profile
(
Free Report)
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.
Further Reading
Before you consider Tetra Tech, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Tetra Tech wasn't on the list.
While Tetra Tech currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
MarketBeat All Access