Federated Hermes Inc. Boosts Stock Position in Tetra Tech, Inc. (NASDAQ:TTEK)

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. grew its position in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 10.8% in the first quarter, according to its most recent filing with the SEC. 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 about 0.18% of Tetra Tech worth $13,772,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Chilton Capital Management LLC bought a new position in shares of Tetra Tech during the 1st quarter valued at approximately $25,000. Baillie Gifford & Co. bought a new stake in Tetra Tech in the first quarter worth $27,000. Caption Management LLC bought a new stake in Tetra Tech in the fourth quarter worth $40,000. Johnson Financial Group Inc. bought a new stake in Tetra Tech in the fourth quarter worth $61,000. Finally, MassMutual Private Wealth & Trust FSB lifted its position in 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 last quarter. 93.89% of the stock is currently owned by institutional investors.

Tetra Tech Trading Down 0.4%

TTEK stock traded down $0.13 during midday trading on Wednesday, reaching $37.24. The company's stock had a trading volume of 2,287,207 shares, compared to its average volume of 2,470,479. The firm has a market capitalization of $9.79 billion, a price-to-earnings ratio of 46.59 and a beta of 0.92. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.10 and a current ratio of 1.18. Tetra Tech, Inc. has a 1 year low of $27.27 and a 1 year high of $51.20. The stock has a fifty day simple moving average of $36.32 and a two-hundred day simple moving average of $33.49.

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

Tetra Tech Dividend Announcement

The business also recently announced 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 payout ratio is 32.50%.

Analyst Ratings Changes

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

About Tetra Tech

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.