416,789 Shares in Tetra Tech, Inc. (NASDAQ:TTEK) Purchased by iA Global Asset Management Inc.

Key Points

• iA Global Asset Management Inc. has acquired a new position in Tetra Tech, purchasing 416,789 shares valued at approximately $12.19 million, representing about 0.16% ownership as of the latest quarter.
• Analysts have recently upgraded Tetra Tech's stock rating, with price targets raised by Robert W. Baird to $33 and KeyCorp to $43, while maintaining a consensus target price of $41.67.
• Tetra Tech announced a quarterly dividend of $0.065 per share, amounting to an annualized yield of 0.7%, with the next payment scheduled for August 29th.

iA Global Asset Management Inc. acquired a new stake in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 416,789 shares of the industrial products company's stock, valued at approximately $12,191,000. iA Global Asset Management Inc. owned 0.16% of Tetra Tech at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fifth Third Bancorp lifted its holdings in Tetra Tech by 9.7% in the first quarter. Fifth Third Bancorp now owns 5,351 shares of the industrial products company's stock valued at $157,000 after buying an additional 475 shares during the period. TT International Asset Management LTD boosted its position in shares of Tetra Tech by 3.1% during the 1st quarter. TT International Asset Management LTD now owns 16,993 shares of the industrial products company's stock worth $497,000 after purchasing an additional 515 shares in the last quarter. Cullen Frost Bankers Inc. grew its stake in Tetra Tech by 30.9% in the first quarter. Cullen Frost Bankers Inc. now owns 2,335 shares of the industrial products company's stock valued at $68,000 after acquiring an additional 551 shares during the period. Arkadios Wealth Advisors raised its holdings in Tetra Tech by 3.0% during the first quarter. Arkadios Wealth Advisors now owns 21,314 shares of the industrial products company's stock worth $623,000 after buying an additional 630 shares during the last quarter. Finally, Xponance Inc. lifted its position in Tetra Tech by 1.6% in the 1st quarter. Xponance Inc. now owns 43,677 shares of the industrial products company's stock valued at $1,278,000 after acquiring an additional 674 shares in the last quarter. Institutional investors own 93.89% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on TTEK. KeyCorp upped 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, August 1st. Robert W. Baird increased their target price on shares of Tetra Tech from $31.00 to $33.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Finally, Wall Street Zen upgraded Tetra Tech from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Tetra Tech presently has an average rating of "Moderate Buy" and an average price target of $41.67.

Tetra Tech Price Performance

NASDAQ TTEK traded down $0.37 during trading hours on Friday, reaching $36.87. 1,692,439 shares of the stock traded hands, compared to its average volume of 1,926,350. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.18 and a quick ratio of 1.10. The stock has a 50 day simple moving average of $36.43 and a two-hundred day simple moving average of $33.44. Tetra Tech, Inc. has a 1 year low of $27.27 and a 1 year high of $51.20. The company has a market cap of $9.69 billion, a price-to-earnings ratio of 46.09 and a beta of 0.92.

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

Tetra Tech Announces Dividend

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