Ninety One UK Ltd Buys 625,052 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

Ninety One UK Ltd increased its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 26.4% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,990,262 shares of the industrial products company's stock after purchasing 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 SEC.

Other large investors have also bought and sold shares of the company. Chilton Capital Management LLC bought a new stake in Tetra Tech during the 1st quarter worth approximately $25,000. Jones Financial Companies Lllp boosted its position in Tetra Tech by 98.0% during the 4th 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 position in Tetra Tech during the 4th quarter worth approximately $40,000. Edmond DE Rothschild Holding S.A. acquired a new position in Tetra Tech during the 4th quarter worth approximately $63,000. Finally, Johnson Financial Group Inc. acquired a new position in Tetra Tech during the 4th quarter worth approximately $61,000. 93.89% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Tetra Tech Stock Up 0.2%

Shares of NASDAQ:TTEK traded up $0.07 during midday trading on Friday, hitting $36.59. The stock had a trading volume of 1,672,690 shares, compared to its average volume of 2,138,803. Tetra Tech, Inc. has a 12 month low of $27.27 and a 12 month high of $51.20. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.49. The business's 50-day simple moving average is $35.31 and its 200-day simple moving average is $33.90. The company has a market cap of $9.64 billion, a P/E ratio of 53.18 and a beta of 0.94.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last released its earnings results 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 business had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.05 billion. During the same period last year, the business earned $0.28 earnings per share. The firm's revenue was up 25.9% on a year-over-year basis. On average, sell-side analysts forecast that Tetra Tech, Inc. will post 1.37 earnings per share 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. The ex-dividend date of this dividend was Friday, May 23rd. This is a boost from Tetra Tech's previous quarterly dividend of $0.06. This represents a $0.26 annualized dividend and a dividend yield of 0.71%. Tetra Tech's dividend payout ratio (DPR) is currently 37.68%.

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.