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

Other institutional investors have also recently added to or reduced their stakes in the company. Fifth Third Bancorp grew its holdings in shares of Tetra Tech by 9.7% during the 1st quarter. Fifth Third Bancorp now owns 5,351 shares of the industrial products company's stock worth $157,000 after purchasing an additional 475 shares during the period. TT International Asset Management LTD boosted its holdings in Tetra Tech by 3.1% in 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. Cullen Frost Bankers Inc. boosted its holdings in Tetra Tech by 30.9% in the 1st quarter. Cullen Frost Bankers Inc. now owns 2,335 shares of the industrial products company's stock worth $68,000 after acquiring an additional 551 shares during the period. Arkadios Wealth Advisors boosted its holdings in Tetra Tech by 3.0% in the 1st quarter. Arkadios Wealth Advisors now owns 21,314 shares of the industrial products company's stock worth $623,000 after acquiring an additional 630 shares during the period. Finally, Xponance Inc. boosted its holdings in Tetra Tech by 1.6% in the 1st quarter. Xponance Inc. now owns 43,677 shares of the industrial products company's stock worth $1,278,000 after acquiring an additional 674 shares during the period. Institutional investors and hedge funds own 93.89% of the company's stock.

Analyst Ratings Changes

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

Tetra Tech Stock Performance

Shares of NASDAQ:TTEK traded down $0.03 on Monday, hitting $36.84. The company's stock had a trading volume of 414,182 shares, compared to its average volume of 2,455,018. Tetra Tech, Inc. has a 12 month low of $27.27 and a 12 month high of $51.20. The company has a market capitalization of $9.68 billion, a price-to-earnings ratio of 46.07 and a beta of 0.92. The stock's 50-day moving average is $36.43 and its two-hundred day moving average is $33.34. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.18 and a current ratio of 1.18.

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 (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.06. Tetra Tech had a return on equity of 24.70% and a net margin of 3.94%. The company had revenue of $1.15 billion during the quarter, compared to analysts' expectations of $1.15 billion. During the same quarter in the prior year, the business posted $1.59 earnings per share. The company's revenue for the quarter was up 1.9% compared to the same quarter last year. On average, equities research analysts forecast that Tetra Tech, Inc. will post 1.37 EPS for the current year.

Tetra Tech Announces Dividend

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

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.