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

Ninety One UK Ltd boosted its holdings in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 26.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,990,262 shares of the industrial products company's stock after buying an additional 625,052 shares during the period. Ninety One UK Ltd owned approximately 1.12% of Tetra Tech worth $87,465,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Chilton Capital Management LLC acquired a new stake in shares of Tetra Tech in the first quarter worth $25,000. Jones Financial Companies Lllp grew its stake in shares of 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 acquiring an additional 495 shares during the last quarter. Caption Management LLC acquired a new stake in shares of Tetra Tech in the fourth quarter worth $40,000. Edmond DE Rothschild Holding S.A. acquired a new stake in Tetra Tech during the fourth quarter worth $63,000. Finally, Johnson Financial Group Inc. acquired a new stake in Tetra Tech during the fourth quarter worth $61,000. 93.89% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Robert W. Baird lifted their price target on shares of Tetra Tech from $31.00 to $33.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. KeyCorp lifted their price target on shares of 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 downgraded shares of 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 assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $41.00.

Tetra Tech Price Performance

Shares of NASDAQ:TTEK traded down $0.38 on Wednesday, hitting $35.99. The stock had a trading volume of 237,615 shares, compared to its average volume of 2,125,338. Tetra Tech, Inc. has a twelve month low of $27.27 and a twelve month high of $51.20. 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 firm's 50 day moving average price is $34.99 and its 200-day moving average price is $33.93. The company has a market capitalization of $9.48 billion, a price-to-earnings ratio of 52.43 and a beta of 0.94.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.31 by $0.02. The business had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.05 billion. Tetra Tech had a return on equity of 23.31% and a net margin of 3.44%. The firm's revenue for the quarter was up 25.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.28 earnings per share. On average, equities research analysts predict that Tetra Tech, Inc. will post 1.37 earnings per share for the current year.

Tetra Tech Increases Dividend

The company also recently disclosed 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 annualized dividend and a yield of 0.72%. The ex-dividend date of this dividend was Friday, May 23rd. Tetra Tech's payout ratio is currently 37.68%.

About Tetra Tech

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.