Envestnet Portfolio Solutions Inc. trimmed its stake in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 21.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 45,832 shares of the industrial products company's stock after selling 12,291 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Tetra Tech were worth $1,341,000 as of its most recent filing with the SEC.
Other large investors also recently bought and sold shares of the company. Jones Financial Companies Lllp raised its position in shares of Tetra Tech by 98.0% in the 4th quarter. Jones Financial Companies Lllp now owns 1,000 shares of the industrial products company's stock worth $40,000 after buying an additional 495 shares during the period. Caption Management LLC acquired a new stake in Tetra Tech during the fourth quarter worth about $40,000. MassMutual Private Wealth & Trust FSB raised its holdings 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 worth $49,000 after purchasing an additional 1,483 shares during the period. Blue Trust Inc. lifted its stake in shares of Tetra Tech by 235.8% in the 4th quarter. Blue Trust Inc. now owns 1,444 shares of the industrial products company's stock valued at $58,000 after purchasing an additional 1,014 shares in the last quarter. Finally, Johnson Financial Group Inc. acquired a new position in shares of Tetra Tech in the 4th quarter valued at about $61,000. Hedge funds and other institutional investors own 93.89% of the company's stock.
Analyst Upgrades and Downgrades
TTEK has been the topic of several 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 report on Thursday, May 8th. Maxim Group lowered shares of Tetra Tech from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. Finally, KeyCorp lifted their target price 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. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Tetra Tech currently has a consensus rating of "Hold" and an average target price of $41.00.
Get Our Latest Report on TTEK
Tetra Tech Stock Up 0.7%
Shares of TTEK stock traded up $0.26 on Wednesday, hitting $35.99. The stock had a trading volume of 2,857,618 shares, compared to its average volume of 2,124,750. The stock's 50 day moving average is $33.92 and its 200-day moving average is $34.31. The firm has a market capitalization of $9.48 billion, a price-to-earnings ratio of 52.31 and a beta of 0.95. Tetra Tech, Inc. has a 52-week low of $27.27 and a 52-week high of $51.20. 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 (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, topping the consensus estimate of $0.31 by $0.02. Tetra Tech had a return on equity of 23.31% and a net margin of 3.44%. The business had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.05 billion. During the same quarter in the previous year, the firm posted $0.28 earnings per share. The company's revenue was up 25.9% compared to the same quarter last year. As a group, research analysts expect that Tetra Tech, Inc. will post 1.37 earnings per share for the current year.
Tetra Tech Increases Dividend
The business also recently disclosed 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 represents a $0.26 dividend on an annualized basis and a yield of 0.72%. This is an increase from Tetra Tech's previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Friday, May 23rd. Tetra Tech's dividend payout ratio is 37.68%.
Tetra Tech Company Profile
(
Free Report)
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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