Ninety One UK Ltd Has $87.47 Million Position in Tetra Tech, Inc. (NASDAQ:TTEK)

Ninety One UK Ltd lifted its holdings in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 26.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund 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 about 1.12% of Tetra Tech worth $87,465,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Praxis Investment Management Inc. bought a new stake in shares of Tetra Tech in the 1st quarter valued at about $348,000. Cambridge Investment Research Advisors Inc. increased its stake in shares of Tetra Tech by 39.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 18,496 shares of the industrial products company's stock valued at $541,000 after acquiring an additional 5,275 shares during the last quarter. SG Americas Securities LLC grew its position in shares of Tetra Tech by 259.3% in the 1st quarter. SG Americas Securities LLC now owns 46,406 shares of the industrial products company's stock valued at $1,357,000 after purchasing an additional 33,491 shares during the period. Summit Trail Advisors LLC acquired a new position in shares of Tetra Tech in the 1st quarter valued at approximately $590,000. Finally, Catalyst Capital Advisors LLC boosted its position in shares of Tetra Tech by 16.2% during the first quarter. Catalyst Capital Advisors LLC now owns 72,960 shares of the industrial products company's stock worth $2,134,000 after buying an additional 10,159 shares during the period. 93.89% of the stock is owned by institutional investors.

Tetra Tech Stock Performance

Tetra Tech stock traded down $0.06 during mid-day trading on Friday, hitting $36.46. 276,594 shares of the company's stock traded hands, compared to its average volume of 2,128,894. The firm has a 50 day simple moving average of $35.20 and a two-hundred day simple moving average of $33.92. 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 cap of $9.61 billion, a price-to-earnings ratio of 53.06 and a beta of 0.94. 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 announced its earnings results on Wednesday, May 7th. The industrial products company reported $0.33 EPS for the quarter, topping the consensus estimate 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 net margin of 3.44% and a return on equity of 23.31%. Tetra Tech's revenue was up 25.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.28 EPS. On average, research analysts expect 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. Stockholders of record on Friday, May 23rd were issued a dividend of $0.065 per share. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $0.26 dividend on an annualized basis and a dividend yield of 0.71%. This is an increase from Tetra Tech's previous quarterly dividend of $0.06. Tetra Tech's dividend payout ratio (DPR) is currently 37.68%.

Analyst Ratings Changes

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

Tetra Tech 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.