Tetra Tech, Inc. (NASDAQ:TTEK) Shares Acquired by Federated Hermes Inc.

Key Points

• Federated Hermes Inc. increased its stake in Tetra Tech by 10.8%, acquiring 45,939 shares to bring their total to 470,826 shares, valued at approximately $13.8 million.
• Brokerages have varied ratings on Tetra Tech, with KeyCorp raising their price target from $41 to $43 and Wall Street Zen upgrading the stock from "hold" to "buy."
• Tetra Tech recently announced a quarterly dividend of $0.065 per share, with a yield of 0.7%, and a payout ratio of 37.68%.

Federated Hermes Inc. lifted its position in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 10.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 470,826 shares of the industrial products company's stock after acquiring an additional 45,939 shares during the quarter. Federated Hermes Inc. owned 0.18% of Tetra Tech worth $13,772,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Chilton Capital Management LLC bought a new stake in shares of Tetra Tech in the 1st quarter worth about $25,000. Baillie Gifford & Co. bought a new stake in shares of Tetra Tech in the 1st quarter worth about $27,000. Caption Management LLC purchased a new position in Tetra Tech in the 4th quarter worth about $40,000. Johnson Financial Group Inc. purchased a new position in Tetra Tech in the 4th quarter worth about $61,000. Finally, MassMutual Private Wealth & Trust FSB increased its position in Tetra Tech by 734.2% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,685 shares of the industrial products company's stock valued at $49,000 after purchasing an additional 1,483 shares during the period. Institutional investors own 93.89% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Robert W. Baird lifted their target price on shares of Tetra Tech from $31.00 to $33.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Wall Street Zen upgraded shares of Tetra Tech from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, KeyCorp lifted their target price on shares of Tetra Tech from $41.00 to $43.00 and gave the stock an "overweight" rating in a research note on Friday. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Tetra Tech has a consensus rating of "Moderate Buy" and an average price target of $41.67.

Tetra Tech Stock Up 2.2%

Shares of TTEK traded up $0.82 during mid-day trading on Tuesday, hitting $37.37. 2,204,351 shares of the company's stock were exchanged, compared to its average volume of 2,472,602. The company has a market cap of $9.85 billion, a price-to-earnings ratio of 46.71 and a beta of 0.92. Tetra Tech, Inc. has a fifty-two week low of $27.27 and a fifty-two week high of $51.20. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.10 and a current ratio of 1.18. The stock's 50-day moving average is $36.30 and its 200-day moving average is $33.46.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.06. The business had revenue of $1.15 billion for the quarter, compared to analysts' expectations of $1.15 billion. Tetra Tech had a net margin of 3.94% and a return on equity of 24.70%. The business's quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.59 earnings per share. On average, sell-side analysts anticipate that Tetra Tech, Inc. will post 1.37 earnings per share for the current fiscal year.

Tetra Tech Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be paid a $0.065 dividend. This represents a $0.26 annualized dividend and a yield of 0.7%. The ex-dividend date is Friday, August 15th. Tetra Tech's dividend payout ratio is currently 32.50%.

Tetra Tech 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.