First National Advisers LLC Makes New Investment in Tetra Tech, Inc. (NASDAQ:TTEK)

Key Points

• First National Advisers LLC has made a new investment of approximately $490,000 in Tetra Tech, acquiring 16,767 shares of the company.
• Tetra Tech reported a 25.9% increase in quarterly revenue year-over-year, achieving $1.10 billion for the latest quarter and exceeding analyst expectations.
• The company has announced a dividend increase, raising its quarterly payout from $0.06 to $0.065, reflecting a 0.68% yield on an annualized basis.

First National Advisers LLC purchased a new stake in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 16,767 shares of the industrial products company's stock, valued at approximately $490,000.

A number of other hedge funds also recently bought and sold shares of TTEK. Pictet Asset Management Holding SA raised its position in shares of Tetra Tech by 3.5% in the first quarter. Pictet Asset Management Holding SA now owns 14,502,940 shares of the industrial products company's stock worth $424,209,000 after acquiring an additional 484,053 shares during the period. Sarasin & Partners LLP acquired a new position in shares of Tetra Tech during the 1st quarter worth approximately $144,799,000. Geode Capital Management LLC grew its holdings in Tetra Tech by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 4,729,696 shares of the industrial products company's stock valued at $188,487,000 after buying an additional 13,616 shares in the last quarter. Robeco Schweiz AG grew its holdings in shares of Tetra Tech by 30.3% in the first quarter. Robeco Schweiz AG now owns 3,192,116 shares of the industrial products company's stock valued at $93,369,000 after purchasing an additional 742,241 shares during the period. Finally, Norges Bank purchased a new stake in shares of Tetra Tech during the 4th quarter valued at approximately $121,390,000. Hedge funds and other institutional investors own 93.89% of the company's stock.

Tetra Tech Trading Down 1.9%

TTEK traded down $0.74 during trading on Monday, hitting $37.56. The company's stock had a trading volume of 1,711,038 shares, compared to its average volume of 1,497,207. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.10 and a quick ratio of 1.10. The stock has a market cap of $9.90 billion, a PE ratio of 54.59 and a beta of 0.94. The firm's 50 day moving average price is $36.12 and its 200-day moving average price is $33.67. Tetra Tech, Inc. has a twelve month low of $27.27 and a twelve month 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, beating the consensus estimate of $0.31 by $0.02. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.05 billion. Tetra Tech had a net margin of 3.44% and a return on equity of 23.31%. Tetra Tech's revenue for the quarter was up 25.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.28 earnings per share. On average, analysts expect that Tetra Tech, Inc. will post 1.37 earnings per share for the current year.

Tetra Tech Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Friday, May 23rd were paid a $0.065 dividend. This represents a $0.26 dividend on an annualized basis and a yield of 0.69%. 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 (DPR) is 37.68%.

Analyst Upgrades and Downgrades

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

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.