Neumeier Poma Investment Counsel LLC Sells 153,915 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

Key Points

• Neumeier Poma Investment Counsel LLC reduced its stake in Tetra Tech, Inc. by 21.9%, maintaining ownership of 549,921 shares valued at approximately $16.09 million.
• Several institutional investors, including Chilton Capital Management LLC and Baillie Gifford & Co., have recently acquired new positions in Tetra Tech, with institutional ownership now at 93.89%.
• Tetra Tech reported earnings per share of $0.43, exceeding estimates, alongside a recent quarterly dividend announcement of $0.065 per share with a dividend yield of 0.7%.

Neumeier Poma Investment Counsel LLC lowered its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 21.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 549,921 shares of the industrial products company's stock after selling 153,915 shares during the quarter. Tetra Tech comprises about 1.7% of Neumeier Poma Investment Counsel LLC's holdings, making the stock its 27th largest position. Neumeier Poma Investment Counsel LLC owned approximately 0.21% of Tetra Tech worth $16,085,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in TTEK. Praxis Investment Management Inc. acquired a new position in shares of Tetra Tech during the first quarter worth about $348,000. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Tetra Tech by 39.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 18,496 shares of the industrial products company's stock worth $541,000 after purchasing an additional 5,275 shares in the last quarter. SG Americas Securities LLC boosted 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 valued at $1,357,000 after buying an additional 33,491 shares during the last quarter. Summit Trail Advisors LLC purchased a new position in Tetra Tech in the 1st quarter valued at about $590,000. Finally, Catalyst Capital Advisors LLC boosted its position in Tetra Tech by 16.2% in the 1st quarter. Catalyst Capital Advisors LLC now owns 72,960 shares of the industrial products company's stock valued at $2,134,000 after buying an additional 10,159 shares during the last quarter. Hedge funds and other institutional investors own 93.89% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on TTEK shares. Robert W. Baird upped their price objective on shares of Tetra Tech from $31.00 to $33.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Wall Street Zen raised shares of Tetra Tech from a "hold" rating to a "buy" rating in a research 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 research report on Friday, August 1st. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $41.67.

Tetra Tech Stock Performance

NASDAQ TTEK traded up $0.01 during midday trading on Monday, hitting $36.88. The company had a trading volume of 494,293 shares, compared to its average volume of 2,455,622. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.50. The firm has a fifty day simple moving average of $36.43 and a two-hundred day simple moving average of $33.34. Tetra Tech, Inc. has a fifty-two week low of $27.27 and a fifty-two week high of $51.20. The stock has a market cap of $9.69 billion, a price-to-earnings ratio of 46.13 and a beta of 0.92.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last issued its 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 business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period in the previous year, the business earned $1.59 EPS. The firm's revenue was up 1.9% on a year-over-year basis. Equities analysts forecast that Tetra Tech, Inc. will post 1.37 earnings per share for the current fiscal year.

Tetra Tech Dividend Announcement

The business also recently announced 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. The ex-dividend date of this dividend 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 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.