Bessemer Group Inc. reduced its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 4.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Nicola Wealth Management LTD. raised its stake in Tetra Tech by 36.8% during the 4th quarter. Nicola Wealth Management LTD. now owns 65,000 shares of the industrial products company's stock valued at $2,590,000 after purchasing an additional 17,500 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of Tetra Tech by 259.3% in the 1st quarter. SG Americas Securities LLC now owns 46,406 shares of the industrial products company's stock valued at $1,357,000 after buying an additional 33,491 shares in the last quarter. Praxis Investment Management Inc. acquired a new position in shares of Tetra Tech in the 1st quarter valued at $348,000. Robeco Schweiz AG raised its stake in shares of Tetra Tech by 26.5% in the 4th quarter. Robeco Schweiz AG now owns 2,449,875 shares of the industrial products company's stock valued at $97,603,000 after buying an additional 512,931 shares in the last quarter. Finally, Patten Group Inc. acquired a new position in shares of Tetra Tech in the 4th quarter valued at $851,000. 93.89% of the stock is currently owned by institutional investors and hedge funds.
Tetra Tech Stock Up 0.2%
TTEK opened at $36.05 on Friday. The firm's 50-day simple moving average is $34.16 and its 200-day simple moving average is $34.27. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.10 and a current ratio of 1.10. Tetra Tech, Inc. has a twelve month low of $27.27 and a twelve month high of $51.20. The firm has a market cap of $9.50 billion, a price-to-earnings ratio of 52.40 and a beta of 0.95.
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 for the quarter, topping the consensus estimate of $0.31 by $0.02. Tetra Tech had a net margin of 3.44% and a return on equity of 23.31%. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the prior year, the firm earned $0.28 EPS. The firm's quarterly revenue was up 25.9% compared to the same quarter last year. Equities research analysts anticipate 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. Shareholders of record on Friday, May 23rd were issued a dividend of $0.065 per share. The ex-dividend date was Friday, May 23rd. This represents a $0.26 dividend on an annualized basis and a yield of 0.72%. This is a positive change from Tetra Tech's previous quarterly dividend of $0.06. Tetra Tech's dividend payout ratio is currently 37.68%.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on the stock. Robert W. Baird increased 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 increased their price objective 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. Finally, Maxim Group cut shares of 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 assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $41.00.
View Our Latest Analysis on TTEK
About Tetra Tech
(
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.
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