iA Global Asset Management Inc. Buys New Position in Tetra Tech, Inc. (NASDAQ:TTEK)

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. bought a new stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 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 quarter.

Other hedge funds also recently modified their holdings of the company. Sarasin & Partners LLP acquired a new position in Tetra Tech in the first quarter valued at approximately $144,799,000. Jacobs Levy Equity Management Inc. lifted its stake in shares of Tetra Tech by 814.2% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 2,267,296 shares of the industrial products company's stock valued at $90,329,000 after purchasing an additional 2,019,295 shares during the period. Bain Capital Public Equity Management II LLC boosted its position in shares of Tetra Tech by 149.5% in the 4th quarter. Bain Capital Public Equity Management II LLC now owns 2,409,928 shares of the industrial products company's stock worth $96,012,000 after purchasing an additional 1,443,939 shares during the last quarter. Van Berkom & Associates Inc. bought a new position in shares of Tetra Tech in the 1st quarter worth $32,816,000. Finally, Capital International Investors acquired a new stake in shares of Tetra Tech during the fourth quarter worth $43,895,000. Institutional investors own 93.89% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on TTEK. Wall Street Zen upgraded Tetra Tech from a "hold" rating to a "buy" rating in a report on Saturday. Robert W. Baird lifted their price objective 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. Finally, KeyCorp upped their target price on shares of Tetra Tech from $41.00 to $43.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Two equities 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, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $41.67.

Tetra Tech Stock Down 0.3%

Shares of TTEK traded down $0.10 on Wednesday, hitting $37.27. The company's stock had a trading volume of 3,141,909 shares, compared to its average volume of 1,803,823. The firm's fifty day moving average price is $36.35 and its 200-day moving average price is $33.51. 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 quick ratio of 1.10, a current ratio of 1.18 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $9.79 billion, a price-to-earnings ratio of 46.59 and a beta of 0.92.

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

Tetra Tech Announces Dividend

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

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.