New York State Teachers Retirement System Reduces Stake in Tetra Tech, Inc. (NASDAQ:TTEK)

New York State Teachers Retirement System cut its position in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 12.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 248,345 shares of the industrial products company's stock after selling 36,300 shares during the quarter. New York State Teachers Retirement System owned approximately 0.09% of Tetra Tech worth $7,264,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Jones Financial Companies Lllp boosted its position in shares of Tetra Tech by 98.0% in the 4th quarter. Jones Financial Companies Lllp now owns 1,000 shares of the industrial products company's stock valued at $40,000 after purchasing an additional 495 shares during the period. Caption Management LLC purchased a new stake in Tetra Tech during the 4th quarter valued at approximately $40,000. Edmond DE Rothschild Holding S.A. purchased a new stake in Tetra Tech during the 4th quarter valued at approximately $63,000. Johnson Financial Group Inc. purchased a new stake in Tetra Tech during the 4th quarter valued at approximately $61,000. Finally, MassMutual Private Wealth & Trust FSB raised its stake in Tetra Tech by 734.2% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,685 shares of the industrial products company's stock valued at $49,000 after acquiring an additional 1,483 shares during the last quarter. 93.89% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TTEK has been the subject of several analyst reports. Maxim Group downgraded Tetra Tech from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. 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, KeyCorp upped their price objective 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 equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Tetra Tech currently has an average rating of "Hold" and an average price target of $41.00.

Tetra Tech Stock Performance

Shares of TTEK stock traded down $0.89 during trading hours on Friday, reaching $35.72. 1,552,388 shares of the company's stock were exchanged, compared to its average volume of 2,132,094. The company has a market cap of $9.41 billion, a P/E ratio of 51.91 and a beta of 0.94. The company's 50 day moving average is $34.79 and its two-hundred day moving average is $33.94. 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 0.49, a current ratio of 1.10 and a quick ratio of 1.10.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last issued its earnings results 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. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.05 billion. Tetra Tech had a return on equity of 23.31% and a net margin of 3.44%. The company's revenue for the quarter was up 25.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.28 EPS. Equities research analysts anticipate that Tetra Tech, Inc. will post 1.37 EPS for the current fiscal year.

Tetra Tech Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Friday, May 23rd were paid a $0.065 dividend. This is an increase from Tetra Tech's previous quarterly dividend of $0.06. This represents a $0.26 annualized dividend and a yield of 0.73%. The ex-dividend date was Friday, May 23rd. Tetra Tech's dividend payout ratio (DPR) is presently 37.68%.

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.