Neumeier Poma Investment Counsel LLC Has $16.09 Million Stake in 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 lessened its holdings in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 21.9% during the first quarter, according to its most recent 13F filing 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 period. Tetra Tech makes up approximately 1.7% of Neumeier Poma Investment Counsel LLC's portfolio, making the stock its 27th biggest holding. Neumeier Poma Investment Counsel LLC owned 0.21% of Tetra Tech worth $16,085,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Chilton Capital Management LLC purchased a new position in shares of Tetra Tech in the 1st quarter worth approximately $25,000. Baillie Gifford & Co. purchased a new position in shares of Tetra Tech in the 1st quarter worth approximately $27,000. Caption Management LLC purchased a new position in shares of Tetra Tech in the 4th quarter worth approximately $40,000. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Tetra Tech by 734.2% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,685 shares of the industrial products company's stock worth $49,000 after buying an additional 1,483 shares during the last quarter. Finally, Johnson Financial Group Inc. purchased a new position in shares of Tetra Tech in the 4th quarter worth approximately $61,000. Hedge funds and other institutional investors own 93.89% of the company's stock.

Analyst Ratings Changes

TTEK has been the topic of several research analyst reports. KeyCorp upped their price objective on Tetra Tech from $41.00 to $43.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Robert W. Baird upped their price objective on Tetra Tech from $31.00 to $33.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Finally, Wall Street Zen upgraded Tetra Tech from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $41.67.

Tetra Tech Trading Down 0.3%

Shares of TTEK stock opened at $37.27 on Thursday. The stock has a market capitalization of $9.79 billion, a price-to-earnings ratio of 46.59 and a beta of 0.92. The company's fifty day simple moving average is $36.35 and its two-hundred day simple moving average is $33.51. Tetra Tech, Inc. has a 1 year low of $27.27 and a 1 year high of $51.20. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.18 and a quick ratio of 1.10.

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

Tetra Tech Announces Dividend

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 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 dividend payout ratio is currently 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.

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