Ninety One UK Ltd Raises Position in Tetra Tech, Inc. (NASDAQ:TTEK)

Ninety One UK Ltd grew its position in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 26.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,990,262 shares of the industrial products company's stock after buying an additional 625,052 shares during the quarter. Ninety One UK Ltd owned 1.12% of Tetra Tech worth $87,465,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Chilton Capital Management LLC purchased a new position in Tetra Tech in the first quarter valued at $25,000. Jones Financial Companies Lllp boosted 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 valued at $40,000 after purchasing an additional 495 shares during the period. Caption Management LLC purchased a new position in Tetra Tech in the fourth quarter valued at $40,000. MassMutual Private Wealth & Trust FSB boosted its holdings in Tetra Tech by 734.2% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,685 shares of the industrial products company's stock valued at $49,000 after purchasing an additional 1,483 shares during the period. Finally, Johnson Financial Group Inc. purchased a new position in Tetra Tech in the fourth quarter valued at $61,000. 93.89% of the stock is owned by institutional investors and hedge funds.

Tetra Tech Stock Performance

TTEK stock traded up $0.44 during trading on Thursday, hitting $36.75. The company had a trading volume of 564,622 shares, compared to its average volume of 2,128,007. The firm has a market cap of $9.68 billion, a PE ratio of 53.43 and a beta of 0.94. Tetra Tech, Inc. has a 1-year low of $27.27 and a 1-year high of $51.20. The firm has a 50-day moving average price of $35.09 and a 200-day moving average price of $33.94. 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 earnings per share (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 firm had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.05 billion. During the same quarter in the previous year, the firm posted $0.28 EPS. The firm's revenue for the quarter was up 25.9% on a year-over-year basis. On average, analysts expect that Tetra Tech, Inc. will post 1.37 earnings per share for the current year.

Tetra Tech Increases Dividend

The company also recently declared 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 positive change from Tetra Tech's previous quarterly dividend of $0.06. The ex-dividend date was Friday, May 23rd. This represents a $0.26 annualized dividend and a dividend yield of 0.71%. Tetra Tech's payout ratio is 37.68%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Maxim Group lowered Tetra Tech from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Robert W. Baird lifted their price target on Tetra Tech from $31.00 to $33.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Finally, KeyCorp lifted their price target on Tetra Tech from $34.00 to $41.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Tetra Tech presently has an average rating of "Hold" and a consensus target price of $41.00.

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.