Bessemer Group Inc. Trims Stock Position in Tetra Tech, Inc. (NASDAQ:TTEK)

Bessemer Group Inc. lessened its position in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 4.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 779,023 shares of the industrial products company's stock after selling 36,916 shares during the quarter. Bessemer Group Inc. owned 0.29% of Tetra Tech worth $22,786,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Jones Financial Companies Lllp increased its position in shares of 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 valued at $40,000 after purchasing an additional 495 shares during the last quarter. Caption Management LLC purchased a new stake in Tetra Tech in the fourth quarter worth approximately $40,000. MassMutual Private Wealth & Trust FSB boosted its stake in Tetra Tech by 734.2% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,685 shares of the industrial products company's stock worth $49,000 after buying an additional 1,483 shares in the last quarter. Johnson Financial Group Inc. bought a new position in Tetra Tech during the fourth quarter valued at approximately $61,000. Finally, Edmond DE Rothschild Holding S.A. purchased a new position in shares of Tetra Tech during the fourth quarter worth approximately $63,000. Hedge funds and other institutional investors own 93.89% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on TTEK shares. Robert W. Baird upped their price objective on shares of Tetra Tech from $31.00 to $33.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. KeyCorp boosted their price target on shares of Tetra Tech from $34.00 to $41.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Finally, Maxim Group cut Tetra Tech from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $41.00.

Tetra Tech Trading Up 0.9%

Shares of NASDAQ:TTEK traded up $0.32 during trading on Monday, reaching $35.96. 1,511,053 shares of the company traded hands, compared to its average volume of 2,132,003. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.49. Tetra Tech, Inc. has a 52-week low of $27.27 and a 52-week high of $51.20. The firm has a market capitalization of $9.48 billion, a price-to-earnings ratio of 52.27 and a beta of 0.95. The business's fifty day moving average is $34.39 and its 200-day moving average is $34.08.

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

Tetra Tech Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Friday, May 23rd were issued a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date was Friday, May 23rd. This is an increase from Tetra Tech's previous quarterly dividend of $0.06. Tetra Tech's payout ratio is currently 37.68%.

About Tetra Tech

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.