Osprey Private Wealth LLC grew its stake in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 26.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 216,250 shares of the industrial products company's stock after purchasing an additional 45,400 shares during the period. Tetra Tech makes up about 3.8% of Osprey Private Wealth LLC's portfolio, making the stock its 9th biggest position. Osprey Private Wealth LLC owned about 0.08% of Tetra Tech worth $6,325,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently modified their holdings of TTEK. Sarasin & Partners LLP bought a new stake in Tetra Tech in the first quarter worth about $144,799,000. Norges Bank purchased a new stake in shares of Tetra Tech in the fourth quarter worth approximately $121,390,000. Jacobs Levy Equity Management Inc. lifted its stake in shares of Tetra Tech by 814.2% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 2,267,296 shares of the industrial products company's stock worth $90,329,000 after acquiring an additional 2,019,295 shares during the last quarter. Bain Capital Public Equity Management II LLC boosted its holdings in Tetra Tech by 149.5% during the 4th quarter. Bain Capital Public Equity Management II LLC now owns 2,409,928 shares of the industrial products company's stock valued at $96,012,000 after acquiring an additional 1,443,939 shares during the period. Finally, Capital International Investors bought a new position in Tetra Tech in the 4th quarter valued at $43,895,000. Hedge funds and other institutional investors own 93.89% of the company's stock.
Tetra Tech Stock Down 0.5%
Shares of TTEK stock traded down $0.19 during mid-day trading on Friday, hitting $36.06. The stock had a trading volume of 1,913,115 shares, compared to its average volume of 2,124,427. Tetra Tech, Inc. has a 12-month low of $27.27 and a 12-month high of $51.20. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.29 and a quick ratio of 1.29. The firm's 50-day moving average is $33.09 and its two-hundred day moving average is $34.63. The firm has a market capitalization of $9.50 billion, a P/E ratio of 37.88 and a beta of 0.95.
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. Tetra Tech had a net margin of 4.81% and a return on equity of 22.58%. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same period in the prior year, the firm earned $0.28 earnings per share. The firm's revenue for the quarter was up 25.9% compared to the same quarter last year. On average, analysts predict that Tetra Tech, Inc. will post 1.37 earnings per share for the current fiscal year.
Tetra Tech Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Friday, May 23rd were paid a $0.065 dividend. This is an increase from Tetra Tech's previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $0.26 dividend on an annualized basis and a yield of 0.72%. Tetra Tech's payout ratio is 37.68%.
Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on the company. Robert W. Baird lifted their target price on Tetra Tech from $31.00 to $33.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. KeyCorp raised 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 cut shares of Tetra Tech from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $41.00.
View Our Latest Stock Analysis on TTEK
About Tetra Tech
(
Free Report)
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.
See Also
Before you consider Tetra Tech, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Tetra Tech wasn't on the list.
While Tetra Tech currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Learn the basics of options trading and how to use them to boost returns and manage risk with this free report from MarketBeat. Click the link below to get your free copy.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
