Ninety One North America Inc. increased its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 34.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 365,726 shares of the industrial products company's stock after acquiring an additional 93,013 shares during the period. Ninety One North America Inc. owned approximately 0.14% of Tetra Tech worth $10,697,000 at the end of the most recent reporting period.
Several other hedge funds have also bought and sold shares of the business. Farther Finance Advisors LLC boosted its stake in Tetra Tech by 13.0% during the fourth quarter. Farther Finance Advisors LLC now owns 4,009 shares of the industrial products company's stock worth $160,000 after acquiring an additional 461 shares in the last quarter. Fifth Third Bancorp raised its holdings in Tetra Tech by 9.7% in the first quarter. Fifth Third Bancorp now owns 5,351 shares of the industrial products company's stock worth $157,000 after buying an additional 475 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in Tetra Tech by 98.0% in the fourth quarter. Jones Financial Companies Lllp now owns 1,000 shares of the industrial products company's stock worth $40,000 after buying an additional 495 shares during the last quarter. TT International Asset Management LTD raised its holdings in Tetra Tech by 3.1% in the first quarter. TT International Asset Management LTD now owns 16,993 shares of the industrial products company's stock worth $497,000 after buying an additional 515 shares during the last quarter. Finally, Arizona State Retirement System raised its holdings in Tetra Tech by 0.8% in the fourth quarter. Arizona State Retirement System now owns 77,643 shares of the industrial products company's stock worth $3,093,000 after buying an additional 619 shares during the last quarter. Institutional investors own 93.89% of the company's stock.
Wall Street Analyst Weigh In
TTEK has been the subject of several recent analyst reports. Robert W. Baird lifted their target price on shares of Tetra Tech from $31.00 to $33.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. KeyCorp lifted their target price on shares of Tetra Tech from $34.00 to $41.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Finally, Maxim Group cut shares of Tetra Tech from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Three investment 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 has a consensus rating of "Hold" and a consensus target price of $41.00.
Get Our Latest Stock Analysis on TTEK
Tetra Tech Stock Performance
Shares of TTEK traded up $0.21 during mid-day trading on Thursday, hitting $36.52. 1,216,785 shares of the company traded hands, compared to its average volume of 2,130,394. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.10 and a current ratio of 1.10. The stock has a 50-day moving average price of $35.09 and a two-hundred day moving average price of $33.94. Tetra Tech, Inc. has a 1 year low of $27.27 and a 1 year high of $51.20. The stock has a market cap of $9.62 billion, a price-to-earnings ratio of 53.08 and a beta of 0.94.
Tetra Tech (NASDAQ:TTEK - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.02. Tetra Tech had a net margin of 3.44% and a return on equity of 23.31%. The firm had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.05 billion. During the same period in the previous year, the company earned $0.28 earnings per share. The firm's quarterly revenue was up 25.9% on a year-over-year basis. Equities analysts anticipate that Tetra Tech, Inc. will post 1.37 earnings per share for the current year.
Tetra Tech Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Friday, May 23rd were issued 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 yield of 0.71%. The ex-dividend date was Friday, May 23rd. Tetra Tech's dividend payout ratio is currently 37.68%.
Tetra Tech Profile
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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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