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

Key Points

• ING Groep NV has acquired 50,500 shares of Tetra Tech, Inc., valued at approximately $1.48 million, as part of their first-quarter investments.
• Tetra Tech's stock price has recently decreased, closing at $36.87, with a market capitalization of $9.69 billion and a price-to-earnings ratio of 46.09.
• The company has announced a quarterly dividend of $0.065, with a payout ratio of 32.50%, set to be paid on August 29th.

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

A number of other large investors also recently modified their holdings of TTEK. Praxis Investment Management Inc. purchased a new stake in Tetra Tech during the first quarter valued at about $348,000. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Tetra Tech by 39.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 18,496 shares of the industrial products company's stock valued at $541,000 after buying an additional 5,275 shares in the last quarter. SG Americas Securities LLC lifted its position in Tetra Tech by 259.3% in the 1st quarter. SG Americas Securities LLC now owns 46,406 shares of the industrial products company's stock worth $1,357,000 after buying an additional 33,491 shares during the last quarter. Summit Trail Advisors LLC purchased a new stake in Tetra Tech in the first quarter worth approximately $590,000. Finally, Catalyst Capital Advisors LLC grew its position in Tetra Tech by 16.2% during the first quarter. Catalyst Capital Advisors LLC now owns 72,960 shares of the industrial products company's stock valued at $2,134,000 after acquiring an additional 10,159 shares during the last quarter. 93.89% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TTEK has been the subject of a number of recent research reports. Robert W. Baird boosted their price objective on shares of Tetra Tech from $31.00 to $33.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. KeyCorp boosted their price target 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. Finally, Wall Street Zen raised Tetra Tech from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Tetra Tech currently has an average rating of "Moderate Buy" and an average target price of $41.67.

Tetra Tech Trading Down 0.0%

Shares of TTEK stock traded down $0.01 during mid-day trading on Monday, reaching $36.86. The stock had a trading volume of 137,191 shares, compared to its average volume of 2,452,960. The firm has a market capitalization of $9.69 billion, a PE ratio of 46.04 and a beta of 0.92. The stock's 50-day moving average price is $36.43 and its two-hundred day moving average price is $33.34. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.50. Tetra Tech, Inc. has a 52-week low of $27.27 and a 52-week high of $51.20.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last announced its earnings results on Wednesday, July 30th. The industrial products company reported $0.43 EPS for the quarter, beating analysts' consensus estimates of $0.37 by $0.06. Tetra Tech had a return on equity of 24.70% and a net margin of 3.94%. The company 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 company earned $1.59 earnings per share. The firm's revenue for the quarter was up 1.9% on a year-over-year basis. Equities analysts expect that Tetra Tech, Inc. will post 1.37 earnings per share for the current fiscal year.

Tetra Tech Dividend Announcement

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

Tetra Tech Company 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.