GAMMA Investing LLC Purchases 83,804 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

GAMMA Investing LLC raised its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 2,784.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 86,814 shares of the industrial products company's stock after purchasing an additional 83,804 shares during the period. GAMMA Investing LLC's holdings in Tetra Tech were worth $2,539,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Oregon Public Employees Retirement Fund raised its position in Tetra Tech by 0.7% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 54,525 shares of the industrial products company's stock valued at $2,172,000 after purchasing an additional 400 shares during the period. CIBC Asset Management Inc raised its position in Tetra Tech by 5.6% during the fourth quarter. CIBC Asset Management Inc now owns 8,318 shares of the industrial products company's stock valued at $331,000 after purchasing an additional 438 shares during the period. Farther Finance Advisors LLC raised its position in Tetra Tech by 13.0% during the fourth quarter. Farther Finance Advisors LLC now owns 4,009 shares of the industrial products company's stock valued at $160,000 after purchasing an additional 461 shares during the period. Jones Financial Companies Lllp raised its position in Tetra Tech by 98.0% during the fourth quarter. Jones Financial Companies Lllp now owns 1,000 shares of the industrial products company's stock valued at $40,000 after purchasing an additional 495 shares during the period. Finally, Amalgamated Bank raised its position in Tetra Tech by 0.5% during the fourth quarter. Amalgamated Bank now owns 128,881 shares of the industrial products company's stock valued at $5,135,000 after purchasing an additional 579 shares during the period. 93.89% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TTEK has been the subject of a number of recent analyst reports. Robert W. Baird boosted their price objective on Tetra Tech from $31.00 to $33.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. KeyCorp lifted their target price on Tetra Tech from $34.00 to $41.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Finally, Maxim Group downgraded 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 given a buy rating to the stock. According to MarketBeat, Tetra Tech has an average rating of "Hold" and an average target price of $41.00.

Tetra Tech Stock Down 0.5%

Shares of TTEK stock traded down $0.19 on Friday, hitting $36.06. The stock had a trading volume of 1,913,115 shares, compared to its average volume of 2,119,152. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.53. The business has a 50 day moving average price of $33.09 and a 200 day moving average price of $34.68. The company has a market cap of $9.50 billion, a PE ratio of 37.88 and a beta of 0.95. Tetra Tech, Inc. has a one year low of $27.27 and a one year high of $51.20.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.02. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.05 billion. Tetra Tech had a return on equity of 22.58% and a net margin of 4.81%. The firm's quarterly revenue was up 25.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.28 earnings per share. Research analysts anticipate that Tetra Tech, Inc. will post 1.37 earnings per share for the current fiscal year.

Tetra Tech Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Friday, May 23rd were issued a $0.065 dividend. The ex-dividend date was Friday, May 23rd. This is an increase from Tetra Tech's previous quarterly dividend of $0.06. This represents a $0.26 dividend on an annualized basis and a yield of 0.72%. Tetra Tech's payout ratio is currently 37.68%.

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.