Envestnet Asset Management Inc. Increases Stock Position in Tetra Tech, Inc. (NASDAQ:TTEK)

Envestnet Asset Management Inc. raised its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 4.7% during the first quarter, according to its most recent filing with the SEC. The firm owned 782,703 shares of the industrial products company's stock after purchasing an additional 35,073 shares during the period. Envestnet Asset Management Inc. owned 0.29% of Tetra Tech worth $22,894,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Praxis Investment Management Inc. purchased a new stake in Tetra Tech during the first quarter worth $348,000. Cambridge Investment Research Advisors Inc. raised its stake in Tetra Tech by 39.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 18,496 shares of the industrial products company's stock worth $541,000 after acquiring an additional 5,275 shares during the last quarter. SG Americas Securities LLC raised its stake in Tetra Tech by 259.3% in the 1st quarter. SG Americas Securities LLC now owns 46,406 shares of the industrial products company's stock worth $1,357,000 after acquiring an additional 33,491 shares during the last quarter. Summit Trail Advisors LLC acquired a new stake in Tetra Tech during the 1st quarter worth about $590,000. Finally, Catalyst Capital Advisors LLC grew its position in shares of Tetra Tech by 16.2% during the 1st quarter. Catalyst Capital Advisors LLC now owns 72,960 shares of the industrial products company's stock valued at $2,134,000 after acquiring an additional 10,159 shares during the period. Hedge funds and other institutional investors own 93.89% of the company's stock.

Analysts Set New Price Targets

TTEK has been the topic of a number of research reports. Robert W. Baird raised their price target 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. KeyCorp lifted their price target on shares of Tetra Tech from $34.00 to $41.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Finally, Maxim Group downgraded shares of Tetra Tech from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Tetra Tech presently has a consensus rating of "Hold" and a consensus target price of $41.00.

Tetra Tech Stock Up 2.5%

Shares of NASDAQ:TTEK traded up $0.92 during trading on Thursday, hitting $38.06. The company's stock had a trading volume of 948,909 shares, compared to its average volume of 2,137,353. The business has a 50 day moving average price of $35.69 and a two-hundred day moving average price of $33.84. The company has a market capitalization of $10.03 billion, a PE ratio of 55.26 and a beta of 0.94. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.10 and a current ratio of 1.10. Tetra Tech, Inc. has a fifty-two week low of $27.27 and a fifty-two week high of $51.20.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.31 by $0.02. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.05 billion. Tetra Tech had a net margin of 3.44% and a return on equity of 23.31%. The company's quarterly revenue was up 25.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.28 earnings per share. As a group, research analysts expect that Tetra Tech, Inc. will post 1.37 EPS for the current fiscal 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 given a dividend of $0.065 per share. This is a boost from Tetra Tech's previous quarterly dividend of $0.06. This represents a $0.26 annualized dividend and a dividend yield of 0.68%. The ex-dividend date of this dividend was Friday, May 23rd. Tetra Tech's payout ratio is 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.