King Luther Capital Management Corp Grows Position in Tetra Tech, Inc. (NASDAQ:TTEK)

Key Points

• King Luther Capital Management Corp increased its position in Tetra Tech, Inc. by 20.3% during the first quarter, owning over 1.5 million shares valued at approximately $44.98 million.
• Analyst ratings for Tetra Tech show a consensus of "Moderate Buy" with a price target increase to $41.67, reflecting positive sentiment after recent upgrades from multiple firms.
• Tetra Tech reported a quarterly earnings per share (EPS) of $0.43, surpassing estimates, and announced a quarterly dividend of $0.065, indicating a stable financial performance.

King Luther Capital Management Corp increased its holdings in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 20.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,537,871 shares of the industrial products company's stock after acquiring an additional 259,576 shares during the quarter. King Luther Capital Management Corp owned approximately 0.57% of Tetra Tech worth $44,983,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in Tetra Tech by 4.9% in the first quarter. Vanguard Group Inc. now owns 27,185,795 shares of the industrial products company's stock worth $795,185,000 after purchasing an additional 1,273,692 shares in the last quarter. Pictet Asset Management Holding SA raised its holdings in Tetra Tech by 3.5% in the first quarter. Pictet Asset Management Holding SA now owns 14,502,940 shares of the industrial products company's stock worth $424,209,000 after purchasing an additional 484,053 shares in the last quarter. Sarasin & Partners LLP bought a new position in Tetra Tech in the first quarter worth about $144,799,000. Robeco Schweiz AG raised its holdings in Tetra Tech by 30.3% in the first quarter. Robeco Schweiz AG now owns 3,192,116 shares of the industrial products company's stock worth $93,369,000 after purchasing an additional 742,241 shares in the last quarter. Finally, Ninety One UK Ltd raised its holdings in Tetra Tech by 26.4% in the first quarter. Ninety One UK Ltd now owns 2,990,262 shares of the industrial products company's stock worth $87,465,000 after purchasing an additional 625,052 shares in the last quarter. 93.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Robert W. Baird boosted their target price 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. Wall Street Zen upgraded shares of Tetra Tech from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Finally, KeyCorp upped their price objective on shares of Tetra Tech from $41.00 to $43.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $41.67.

Tetra Tech Stock Performance

TTEK opened at $36.87 on Friday. Tetra Tech, Inc. has a 52-week low of $27.27 and a 52-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 company has a market cap of $9.69 billion, a P/E ratio of 46.09 and a beta of 0.92. The firm's 50-day moving average price is $36.43 and its 200-day moving average price is $33.38.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $0.43 earnings per share (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 for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the prior year, the company posted $1.59 earnings per share. The company's revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, equities analysts anticipate that Tetra Tech, Inc. will post 1.37 EPS for the current fiscal year.

Tetra Tech Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors 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 yield of 0.7%. Tetra Tech's dividend 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.

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