New York State Common Retirement Fund Purchases 68,380 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

New York State Common Retirement Fund increased its position in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 10.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 716,188 shares of the industrial products company's stock after buying an additional 68,380 shares during the quarter. New York State Common Retirement Fund owned 0.27% of Tetra Tech worth $20,948,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Xponance Inc. lifted its position in shares of Tetra Tech by 1.6% in the first quarter. Xponance Inc. now owns 43,677 shares of the industrial products company's stock valued at $1,278,000 after buying an additional 674 shares during the last quarter. Robeco Schweiz AG lifted its holdings in Tetra Tech by 30.3% during the 1st 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 during the last quarter. State of Michigan Retirement System lifted its holdings in Tetra Tech by 1.1% during the 1st quarter. State of Michigan Retirement System now owns 64,140 shares of the industrial products company's stock worth $1,876,000 after purchasing an additional 700 shares during the last quarter. Hunter Associates Investment Management LLC lifted its holdings in Tetra Tech by 11.7% during the 1st quarter. Hunter Associates Investment Management LLC now owns 31,976 shares of the industrial products company's stock worth $936,000 after purchasing an additional 3,348 shares during the last quarter. Finally, LBP AM SA lifted its holdings in Tetra Tech by 46.8% during the 1st quarter. LBP AM SA now owns 65,112 shares of the industrial products company's stock worth $1,905,000 after purchasing an additional 20,751 shares during the last quarter. 93.89% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Maxim Group lowered Tetra Tech from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. Robert W. Baird lifted their price target 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, KeyCorp lifted their price target on Tetra Tech from $34.00 to $41.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $41.00.

Tetra Tech Price Performance

Shares of TTEK stock traded up $0.90 on Thursday, reaching $38.04. The company's stock had a trading volume of 979,080 shares, compared to its average volume of 2,137,448. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.49. Tetra Tech, Inc. has a 12-month low of $27.27 and a 12-month high of $51.20. The company has a market capitalization of $10.02 billion, a P/E ratio of 55.33 and a beta of 0.94. The stock's 50 day simple moving average is $35.69 and its 200-day simple moving average is $33.84.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $0.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.31 by $0.02. Tetra Tech had a return on equity of 23.31% and a net margin of 3.44%. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter last year, the business posted $0.28 earnings per share. The firm's revenue was up 25.9% compared to the same quarter last year. As a group, equities analysts predict that Tetra Tech, Inc. will post 1.37 earnings per share for the current fiscal year.

Tetra Tech Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Friday, May 23rd were paid a dividend of $0.065 per share. This is a boost from Tetra Tech's previous quarterly dividend of $0.06. This represents a $0.26 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date was Friday, May 23rd. Tetra Tech's dividend payout ratio (DPR) is 37.68%.

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.