New York State Teachers Retirement System trimmed its position in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 12.8% during the 1st quarter, according to the company in its most recent Form 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 period. New York State Teachers Retirement System owned 0.09% of Tetra Tech worth $7,264,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Praxis Investment Management Inc. purchased a new stake in Tetra Tech in the first quarter worth $348,000. SG Americas Securities LLC grew its stake in shares of Tetra Tech by 259.3% in the first quarter. SG Americas Securities LLC now owns 46,406 shares of the industrial products company's stock worth $1,357,000 after acquiring an additional 33,491 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of Tetra Tech in the fourth quarter worth $1,619,000. Treasurer of the State of North Carolina grew its stake in shares of Tetra Tech by 8.7% in the fourth quarter. Treasurer of the State of North Carolina now owns 144,595 shares of the industrial products company's stock worth $5,761,000 after acquiring an additional 11,530 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Tetra Tech by 11.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 342,637 shares of the industrial products company's stock worth $13,651,000 after acquiring an additional 34,375 shares during the last quarter. 93.89% of the stock is owned by hedge funds and other institutional investors.
Tetra Tech Stock Performance
Shares of Tetra Tech stock traded down $0.03 during trading on Tuesday, hitting $36.37. 2,760,845 shares of the company's stock traded hands, compared to its average volume of 2,132,572. 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, Inc. has a 1 year low of $27.27 and a 1 year high of $51.20. The stock has a market capitalization of $9.58 billion, a P/E ratio of 52.86 and a beta of 0.94. The business has a 50-day simple moving average of $34.99 and a 200-day simple moving average of $33.93.
Tetra Tech (NASDAQ:TTEK - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $0.33 EPS for the quarter, beating the consensus estimate 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 analysts' expectations of $1.05 billion. During the same period last year, the firm posted $0.28 earnings per share. Tetra Tech's revenue was up 25.9% compared to the same quarter last year. As a group, analysts forecast that Tetra Tech, Inc. will post 1.37 EPS for the current year.
Tetra Tech Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Friday, May 23rd were issued a $0.065 dividend. This is an increase from Tetra Tech's previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $0.26 dividend on an annualized basis and a yield of 0.71%. Tetra Tech's dividend payout ratio is currently 37.68%.
Wall Street Analyst Weigh In
TTEK has been the topic of a number of recent research reports. Robert W. Baird increased their target price on Tetra Tech from $31.00 to $33.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. KeyCorp increased their target price on Tetra Tech from $34.00 to $41.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Finally, Maxim Group cut Tetra Tech from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $41.00.
View Our Latest Stock Report on TTEK
About Tetra Tech
(
Free Report)
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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