Charles Schwab Investment Management Inc. Acquires 49,454 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Tetra Tech, Inc. (NASDAQ:TTEK) by 2.4%, owning 2,131,293 shares valued at approximately $62.34 million.
• Tetra Tech reported a quarterly EPS of $0.43, surpassing the consensus estimate of $0.37, with a revenue of $1.15 billion for the quarter, marking a 1.9% increase from the previous year.
• The company announced a quarterly dividend of $0.065 per share, equating to an annualized dividend of $0.26 and a dividend yield of 0.7%.

Charles Schwab Investment Management Inc. boosted its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 2.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,131,293 shares of the industrial products company's stock after purchasing an additional 49,454 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.80% of Tetra Tech worth $62,340,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Chilton Capital Management LLC acquired a new position in shares of Tetra Tech in the 1st quarter valued at $25,000. Baillie Gifford & Co. acquired a new position in shares of Tetra Tech in the 1st quarter valued at $27,000. Caption Management LLC acquired a new position in shares of Tetra Tech in the 4th quarter valued at $40,000. Johnson Financial Group Inc. acquired a new position in shares of Tetra Tech in the 4th quarter valued at $61,000. Finally, MassMutual Private Wealth & Trust FSB raised its stake in shares of Tetra Tech by 734.2% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,685 shares of the industrial products company's stock valued at $49,000 after buying an additional 1,483 shares in the last quarter. 93.89% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Tetra Tech news, Director Gary Birkenbeuel sold 2,390 shares of the stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $36.00, for a total transaction of $86,040.00. Following the sale, the director owned 37,725 shares of the company's stock, valued at $1,358,100. This represents a 5.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.40% of the stock is currently owned by corporate insiders.

Tetra Tech Price Performance

Shares of TTEK traded down $0.06 during trading hours on Friday, hitting $35.80. The stock had a trading volume of 2,527,926 shares, compared to its average volume of 1,929,683. The company's fifty day moving average is $36.57 and its two-hundred day moving average is $33.31. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.18 and a quick ratio of 1.18. Tetra Tech, Inc. has a 52 week low of $27.27 and a 52 week high of $51.20. The stock has a market capitalization of $9.41 billion, a price-to-earnings ratio of 44.75 and a beta of 0.92.

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

Tetra Tech Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts have recently issued reports on TTEK shares. Wall Street Zen upgraded shares of Tetra Tech from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. 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. Finally, KeyCorp upped their target price on shares of Tetra Tech from $41.00 to $43.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $41.67.

Tetra Tech 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.