Ninety One North America Inc. raised its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 34.1% during the 1st quarter, according to the company in its most recent 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 quarter. Ninety One North America Inc. owned approximately 0.14% of Tetra Tech worth $10,697,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in the company. Farther Finance Advisors LLC boosted its position 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 purchasing an additional 461 shares during the period. Fifth Third Bancorp boosted its position in Tetra Tech by 9.7% during the first quarter. Fifth Third Bancorp now owns 5,351 shares of the industrial products company's stock worth $157,000 after purchasing an additional 475 shares during the period. Jones Financial Companies Lllp boosted its position in Tetra Tech by 98.0% during the fourth quarter. Jones Financial Companies Lllp now owns 1,000 shares of the industrial products company's stock worth $40,000 after purchasing an additional 495 shares during the period. TT International Asset Management LTD boosted its position in Tetra Tech by 3.1% during the first quarter. TT International Asset Management LTD now owns 16,993 shares of the industrial products company's stock worth $497,000 after purchasing an additional 515 shares during the period. Finally, Arizona State Retirement System boosted its position in Tetra Tech by 0.8% during the fourth quarter. Arizona State Retirement System now owns 77,643 shares of the industrial products company's stock worth $3,093,000 after purchasing an additional 619 shares during the period. Institutional investors own 93.89% of the company's stock.
Tetra Tech Stock Performance
Shares of TTEK stock traded up $0.13 during trading hours on Tuesday, reaching $36.53. 726,411 shares of the company's stock were exchanged, compared to its average volume of 2,122,461. Tetra Tech, Inc. has a fifty-two week low of $27.27 and a fifty-two week high of $51.20. The stock has a market capitalization of $9.63 billion, a P/E ratio of 53.23 and a beta of 0.94. The business has a fifty day moving average price of $34.89 and a 200-day moving average price of $33.91. 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 (NASDAQ:TTEK - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $0.33 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 during the quarter, compared to analyst estimates of $1.05 billion. During the same period in the previous year, the company earned $0.28 earnings per share. The company's quarterly revenue was up 25.9% compared to the same quarter last year. Analysts predict that Tetra Tech, Inc. will post 1.37 EPS for the current fiscal year.
Tetra Tech Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Friday, May 23rd were paid a $0.065 dividend. This represents a $0.26 dividend on an annualized basis and a dividend yield of 0.71%. This is a positive change from Tetra Tech's previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Friday, May 23rd. Tetra Tech's dividend payout ratio is presently 37.68%.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on the company. Maxim Group cut Tetra Tech from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. Robert W. Baird upped their target price on Tetra Tech from $31.00 to $33.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Finally, KeyCorp upped their target price on Tetra Tech from $34.00 to $41.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $41.00.
Get Our Latest Analysis on TTEK
Tetra Tech Company Profile
(
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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