ING Groep NV Acquires Shares of 50,500 Tetra Tech, Inc. (NASDAQ:TTEK)

ING Groep NV acquired a new stake in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 50,500 shares of the industrial products company's stock, valued at approximately $1,477,000.

Several other hedge funds also recently bought and sold shares of the stock. Brighton Jones LLC purchased a new position in shares of Tetra Tech in the fourth quarter valued at approximately $225,000. Resona Asset Management Co. Ltd. acquired a new stake in Tetra Tech in the fourth quarter valued at approximately $368,000. Rathbones Group PLC raised its holdings in Tetra Tech by 87.0% in the fourth quarter. Rathbones Group PLC now owns 23,285 shares of the industrial products company's stock valued at $928,000 after acquiring an additional 10,835 shares in the last quarter. Bank of Nova Scotia raised its holdings in Tetra Tech by 24.1% in the fourth quarter. Bank of Nova Scotia now owns 641,860 shares of the industrial products company's stock valued at $25,572,000 after acquiring an additional 124,619 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Tetra Tech by 150.3% in the fourth quarter. Renaissance Technologies LLC now owns 654,800 shares of the industrial products company's stock valued at $26,087,000 after acquiring an additional 393,200 shares in the last quarter. Hedge funds and other institutional investors own 93.89% of the company's stock.

Tetra Tech Stock Performance

TTEK stock traded down $0.37 on Friday, hitting $36.87. The company's stock had a trading volume of 1,692,439 shares, compared to its average volume of 1,926,350. The firm has a 50 day moving average of $36.43 and a two-hundred day 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 stock has a market cap of $9.69 billion, a price-to-earnings ratio of 46.09 and a beta of 0.92. The company has a current ratio of 1.18, a quick ratio of 1.10 and a debt-to-equity ratio of 0.50.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last released 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. Tetra Tech had a net margin of 3.94% and a return on equity of 24.70%. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the prior year, the firm earned $1.59 EPS. Tetra Tech's revenue for the quarter was up 1.9% on a year-over-year basis. Equities analysts predict that Tetra Tech, Inc. will post 1.37 EPS for the current fiscal year.

Tetra Tech Dividend Announcement

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 paid a $0.065 dividend. This represents a $0.26 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Friday, August 15th. Tetra Tech's payout ratio is currently 32.50%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Robert W. Baird raised their target price on shares of Tetra Tech from $31.00 to $33.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Wall Street Zen raised shares of Tetra Tech from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Finally, KeyCorp raised their price objective on shares of Tetra Tech from $41.00 to $43.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Tetra Tech presently has an average rating of "Moderate Buy" and an average target price of $41.67.

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.