Cerity Partners LLC Decreases Position in Tetra Tech, Inc. (NASDAQ:TTEK)

Cerity Partners LLC decreased its position in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 93.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 55,079 shares of the industrial products company's stock after selling 801,684 shares during the period. Cerity Partners LLC's holdings in Tetra Tech were worth $1,611,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Tetra Tech by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 25,912,103 shares of the industrial products company's stock worth $1,032,338,000 after buying an additional 127,757 shares during the period. Pictet Asset Management Holding SA lifted its holdings in Tetra Tech by 2.8% during the fourth quarter. Pictet Asset Management Holding SA now owns 14,018,887 shares of the industrial products company's stock worth $558,512,000 after buying an additional 381,437 shares during the period. Sarasin & Partners LLP acquired a new position in shares of Tetra Tech during the first quarter worth $144,799,000. Geode Capital Management LLC increased its position in shares of Tetra Tech by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 4,729,696 shares of the industrial products company's stock worth $188,487,000 after purchasing an additional 13,616 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Tetra Tech during the fourth quarter worth $121,390,000. Hedge funds and other institutional investors own 93.89% of the company's stock.

Tetra Tech Stock Performance

Shares of NASDAQ TTEK traded down $0.03 during mid-day trading on Friday, hitting $38.24. The stock had a trading volume of 142,892 shares, compared to its average volume of 2,472,088. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.10 and a current ratio of 1.10. The company has a 50 day moving average of $36.06 and a two-hundred day moving average of $33.77. 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 $10.08 billion, a PE ratio of 55.58 and a beta of 0.94.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last announced its quarterly 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. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.05 billion. Tetra Tech had a return on equity of 23.31% and a net margin of 3.44%. The firm's revenue for the quarter was up 25.9% compared to the same quarter last year. During the same period last year, the firm earned $0.28 EPS. Research analysts predict that Tetra Tech, Inc. will post 1.37 EPS for the current fiscal year.

Tetra Tech Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Friday, May 23rd were given a dividend of $0.065 per share. The ex-dividend date of this dividend was Friday, May 23rd. This is a boost from Tetra Tech's previous quarterly dividend of $0.06. This represents a $0.26 dividend on an annualized basis and a dividend yield of 0.68%. Tetra Tech's dividend payout ratio (DPR) is 37.68%.

Analysts Set New Price Targets

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

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.