Nuveen Asset Management LLC Decreases Holdings in Tetra Tech, Inc. (NASDAQ:TTEK)

Nuveen Asset Management LLC trimmed its position in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 1.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,183,109 shares of the industrial products company's stock after selling 12,412 shares during the period. Nuveen Asset Management LLC owned about 0.44% of Tetra Tech worth $47,135,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of TTEK. R Squared Ltd bought a new stake in shares of Tetra Tech in the 4th quarter worth approximately $39,000. Asset Planning Inc bought a new stake in shares of Tetra Tech during the fourth quarter valued at approximately $40,000. Jones Financial Companies Lllp raised its stake 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 valued at $40,000 after buying an additional 495 shares during the last quarter. Caption Management LLC purchased a new position in Tetra Tech during the fourth quarter valued at $40,000. Finally, Blue Trust Inc. raised its stake in Tetra Tech by 235.8% during the fourth quarter. Blue Trust Inc. now owns 1,444 shares of the industrial products company's stock valued at $58,000 after buying an additional 1,014 shares during the last quarter. 93.89% of the stock is currently owned by institutional investors.

Tetra Tech Stock Performance

NASDAQ TTEK opened at $35.27 on Tuesday. The firm has a market cap of $9.29 billion, a price-to-earnings ratio of 37.05 and a beta of 0.92. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.53. The business has a 50-day moving average price of $30.77 and a 200-day moving average price of $35.72. Tetra Tech, Inc. has a twelve month low of $27.27 and a twelve month high of $51.20.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates of $0.31 by $0.02. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.05 billion. Tetra Tech had a return on equity of 22.58% and a net margin of 4.81%. The business's quarterly revenue was up 25.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.28 earnings per share. As a group, equities research 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 will be paid on Thursday, June 5th. Investors of record on Friday, May 23rd will be given a $0.065 dividend. This is an increase from Tetra Tech's previous quarterly dividend of $0.06. This represents a $0.26 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date of this dividend is Friday, May 23rd. Tetra Tech's payout ratio is currently 37.68%.

Analyst Ratings Changes

Several research analysts have recently weighed in on TTEK shares. Royal Bank of Canada set a $49.00 price target on Tetra Tech in a research note on Friday, January 31st. Robert W. Baird lifted their price objective on Tetra Tech from $31.00 to $33.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Maxim Group lowered Tetra Tech from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Finally, KeyCorp boosted their price target on Tetra Tech from $34.00 to $41.00 and gave the company an "overweight" rating in a 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average 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.

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