Tetra Tech, Inc. (NASDAQ:TTEK) Shares Purchased by CenterBook Partners LP

Key Points

• CenterBook Partners LP significantly increased its stake in Tetra Tech, Inc. by 191.9% during the first quarter, now holding approximately 201,986 shares valued at $5.9 million.
• Tetra Tech reported a quarterly EPS of $0.43, surpassing analysts' expectations of $0.37, with revenue rising 1.9% year-over-year to $1.15 billion.
• The company declared a quarterly dividend of $0.065 per share, effective August 29, which represents an annualized yield of 0.7%.

CenterBook Partners LP raised its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 191.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 201,986 shares of the industrial products company's stock after acquiring an additional 132,781 shares during the period. CenterBook Partners LP owned approximately 0.08% of Tetra Tech worth $5,908,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TTEK. Chilton Capital Management LLC purchased a new position in shares of Tetra Tech during the 1st quarter worth approximately $25,000. Baillie Gifford & Co. purchased a new position in shares of Tetra Tech during the 1st quarter worth approximately $27,000. Caption Management LLC purchased a new position in shares of Tetra Tech during the 4th quarter worth approximately $40,000. MassMutual Private Wealth & Trust FSB raised its stake in shares of Tetra Tech by 734.2% during the 1st 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. Finally, Johnson Financial Group Inc. purchased a new position in shares of Tetra Tech during the 4th quarter worth approximately $61,000. 93.89% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on TTEK shares. Wall Street Zen raised Tetra Tech from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. KeyCorp increased their target price on Tetra Tech from $41.00 to $43.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Finally, Robert W. Baird increased their target price on Tetra Tech from $31.00 to $33.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $41.67.

Tetra Tech Price Performance

Shares of TTEK traded down $0.37 on Friday, reaching $36.87. The stock had a trading volume of 1,692,439 shares, compared to its average volume of 1,926,350. The firm has a market capitalization of $9.69 billion, a PE ratio of 46.09 and a beta of 0.92. The company has a quick ratio of 1.10, a current ratio of 1.18 and a debt-to-equity ratio of 0.50. The firm has a 50-day moving average of $36.43 and a 200 day moving average of $33.44. Tetra Tech, Inc. has a twelve month low of $27.27 and a twelve month high of $51.20.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $0.43 earnings per share for the quarter, topping analysts' consensus estimates of $0.37 by $0.06. The business had revenue of $1.15 billion for the quarter, compared to analysts' expectations of $1.15 billion. Tetra Tech had a return on equity of 24.70% and a net margin of 3.94%. The company's revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.59 EPS. Sell-side analysts expect that Tetra Tech, Inc. will post 1.37 EPS for the current year.

Tetra Tech Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be issued a $0.065 dividend. The ex-dividend date is Friday, August 15th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 0.7%. Tetra Tech's dividend payout ratio is currently 32.50%.

Tetra Tech Company 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.