Tetra Tech, Inc. (NASDAQ:TTEK) Shares Purchased by Cynosure Group LLC

Key Points

• Cynosure Group LLC significantly increased its holdings in Tetra Tech, Inc. by 1,080.4% during Q1, owning 85,779 shares valued at approximately $2.5 million.
• Tetra Tech reported quarterly earnings of $0.43 per share, exceeding analysts' expectations, with revenues of $1.15 billion, marking a 1.9% year-over-year increase.
• The company announced a quarterly dividend of $0.065 per share, reflecting an annual yield of 0.7%, with the payout ratio standing at 32.50%.

Cynosure Group LLC increased its holdings in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 1,080.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 85,779 shares of the industrial products company's stock after purchasing an additional 78,512 shares during the period. Cynosure Group LLC's holdings in Tetra Tech were worth $2,509,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Chilton Capital Management LLC purchased a new stake in shares of Tetra Tech in the first quarter worth about $25,000. Baillie Gifford & Co. purchased a new stake in shares of Tetra Tech in the first quarter worth about $27,000. Caption Management LLC purchased a new stake in shares of Tetra Tech in the fourth quarter worth about $40,000. Johnson Financial Group Inc. purchased a new stake in shares of Tetra Tech in the fourth quarter worth about $61,000. Finally, MassMutual Private Wealth & Trust FSB boosted its position in shares of Tetra Tech by 734.2% in the first 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 during the period. Hedge funds and other institutional investors own 93.89% of the company's stock.

Wall Street Analysts Forecast Growth

TTEK has been the subject of several analyst reports. KeyCorp upped their target price on Tetra Tech from $41.00 to $43.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Robert W. Baird upped their target price on Tetra Tech from $31.00 to $33.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Finally, Wall Street Zen upgraded Tetra Tech from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $41.67.

Tetra Tech Stock Down 0.2%

Shares of NASDAQ:TTEK traded down $0.08 during trading on Tuesday, hitting $36.74. The company's stock had a trading volume of 1,852,437 shares, compared to its average volume of 2,457,077. 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, Inc. has a fifty-two week low of $27.27 and a fifty-two week high of $51.20. The stock's 50-day moving average price is $36.48 and its two-hundred day moving average price is $33.33. The company has a market capitalization of $9.65 billion, a PE ratio of 45.93 and a beta of 0.92.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $0.43 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 business had revenue of $1.15 billion for the quarter, compared to analysts' expectations of $1.15 billion. During the same quarter in the previous year, the firm posted $1.59 earnings per share. The company's revenue was up 1.9% compared to the same quarter last year. As a group, 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 disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.065 per share. The ex-dividend date is Friday, August 15th. This represents a $0.26 annualized dividend and a yield of 0.7%. Tetra Tech's dividend payout ratio is presently 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.