Tetra Tech, Inc. (NASDAQ:TTEK) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. cut its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 21.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 45,832 shares of the industrial products company's stock after selling 12,291 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Tetra Tech were worth $1,341,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue increased its stake in shares of Tetra Tech by 2.9% during the first quarter. State of Alaska Department of Revenue now owns 31,410 shares of the industrial products company's stock worth $918,000 after acquiring an additional 885 shares during the period. Insigneo Advisory Services LLC increased its position in Tetra Tech by 36.7% during the 1st quarter. Insigneo Advisory Services LLC now owns 8,686 shares of the industrial products company's stock worth $254,000 after purchasing an additional 2,332 shares during the period. Exchange Traded Concepts LLC grew its holdings in Tetra Tech by 48.5% during the first quarter. Exchange Traded Concepts LLC now owns 73,181 shares of the industrial products company's stock worth $2,141,000 after acquiring an additional 23,910 shares during the period. Relyea Zuckerberg Hanson LLC raised its position in Tetra Tech by 1.6% in the first quarter. Relyea Zuckerberg Hanson LLC now owns 77,665 shares of the industrial products company's stock worth $2,272,000 after acquiring an additional 1,205 shares in the last quarter. Finally, Osprey Private Wealth LLC lifted its holdings in Tetra Tech by 26.6% in the first quarter. Osprey Private Wealth LLC now owns 216,250 shares of the industrial products company's stock valued at $6,325,000 after acquiring an additional 45,400 shares during the period. 93.89% of the stock is owned by institutional investors and hedge funds.

Tetra Tech Price Performance

NASDAQ:TTEK traded down $0.41 during mid-day trading on Friday, hitting $35.64. 2,886,095 shares of the company's stock traded hands, compared to its average volume of 2,134,497. 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 market cap of $9.39 billion, a PE ratio of 51.80 and a beta of 0.95. The firm's 50 day simple moving average is $34.27 and its 200 day simple moving average is $34.17. Tetra Tech, Inc. has a 1 year low of $27.27 and a 1 year high of $51.20.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.31 by $0.02. Tetra Tech had a net margin of 3.44% and a return on equity of 23.31%. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period in the prior year, the business earned $0.28 earnings per share. The company's quarterly revenue was up 25.9% on a year-over-year basis. Sell-side analysts expect that Tetra Tech, Inc. will post 1.37 EPS for the current year.

Tetra Tech Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Friday, May 23rd were paid 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 0.73%. The ex-dividend date of this dividend was Friday, May 23rd. Tetra Tech's dividend payout ratio (DPR) is currently 37.68%.

Wall Street Analyst Weigh In

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

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.