City Center Advisors LLC Buys New Shares in Tetra Tech, Inc. (NASDAQ:TTEK)

City Center Advisors LLC bought a new stake in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 7,106 shares of the industrial products company's stock, valued at approximately $208,000.

A number of other hedge funds and other institutional investors have also modified their holdings of TTEK. Brighton Jones LLC acquired a new stake in shares of Tetra Tech in the fourth quarter valued at about $225,000. Empowered Funds LLC increased its position in shares of Tetra Tech by 34.1% in the fourth quarter. Empowered Funds LLC now owns 37,186 shares of the industrial products company's stock valued at $1,481,000 after acquiring an additional 9,460 shares during the last quarter. Fortress Financial Solutions LLC acquired a new position in Tetra Tech during the fourth quarter worth approximately $280,000. Van ECK Associates Corp increased its position in Tetra Tech by 32.3% during the fourth quarter. Van ECK Associates Corp now owns 289,460 shares of the industrial products company's stock worth $11,532,000 after buying an additional 70,610 shares during the last quarter. Finally, Asset Management One Co. Ltd. increased its position in Tetra Tech by 4.0% during the fourth quarter. Asset Management One Co. Ltd. now owns 307,996 shares of the industrial products company's stock worth $12,266,000 after buying an additional 11,875 shares during the last quarter. Institutional investors and hedge funds own 93.89% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TTEK. Robert W. Baird boosted their price target on Tetra Tech from $31.00 to $33.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. KeyCorp boosted 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, Maxim Group downgraded Tetra Tech from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, Tetra Tech currently has an average rating of "Hold" and a consensus target price of $41.00.

Tetra Tech Trading Up 1.1%

Shares of NASDAQ:TTEK opened at $35.59 on Monday. Tetra Tech, Inc. has a 12-month low of $27.27 and a 12-month high of $51.20. The stock has a market cap of $9.38 billion, a PE ratio of 37.38 and a beta of 0.95. The business has a 50 day moving average of $32.44 and a 200-day moving average of $34.78. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.53.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $0.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.31 by $0.02. Tetra Tech had a return on equity of 22.58% and a net margin of 4.81%. The company had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.05 billion. During the same quarter in the previous year, the company posted $0.28 earnings per share. The business's revenue was up 25.9% on a year-over-year basis. As a group, equities research analysts forecast that Tetra Tech, Inc. will post 1.37 earnings per share for the current year.

Tetra Tech Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Friday, May 23rd were issued a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date was Friday, May 23rd. This is a boost from Tetra Tech's previous quarterly dividend of $0.06. Tetra Tech's payout ratio is currently 37.68%.

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.

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