Pacer Advisors Inc. Reduces Stock Holdings in Tetra Tech, Inc. (NASDAQ:TTEK)

Pacer Advisors Inc. lowered its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 70.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,617 shares of the industrial products company's stock after selling 37,078 shares during the quarter. Pacer Advisors Inc.'s holdings in Tetra Tech were worth $457,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of TTEK. Neo Ivy Capital Management acquired a new stake in Tetra Tech during the 1st quarter worth $528,000. Assetmark Inc. boosted its stake in Tetra Tech by 56.0% in the first quarter. Assetmark Inc. now owns 4,451 shares of the industrial products company's stock valued at $130,000 after acquiring an additional 1,597 shares in the last quarter. Avantax Advisory Services Inc. increased its position in shares of Tetra Tech by 21.6% during the first quarter. Avantax Advisory Services Inc. now owns 13,895 shares of the industrial products company's stock worth $406,000 after purchasing an additional 2,468 shares in the last quarter. SFE Investment Counsel increased its position in shares of Tetra Tech by 190.7% during the first quarter. SFE Investment Counsel now owns 84,441 shares of the industrial products company's stock worth $2,470,000 after purchasing an additional 55,393 shares in the last quarter. Finally, AE Wealth Management LLC purchased a new stake in shares of Tetra Tech in the 1st quarter valued at about $292,000. Hedge funds and other institutional investors own 93.89% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on TTEK. KeyCorp raised their price target on Tetra Tech from $34.00 to $41.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Robert W. Baird raised their target price on shares of Tetra Tech from $31.00 to $33.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Finally, Maxim Group cut shares of Tetra Tech from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $41.00.

Tetra Tech Stock Performance

Shares of TTEK stock opened at $36.74 on Friday. The stock's 50-day moving average price is $36.26 and its 200 day moving average price is $33.66. 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 stock has a market capitalization of $9.68 billion, a PE ratio of 45.93 and a beta of 0.94. Tetra Tech, Inc. has a 52-week low of $27.27 and a 52-week high of $51.20.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last announced its earnings results on Wednesday, July 30th. The industrial products company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.06. Tetra Tech had a return on equity of 24.85% and a net margin of 3.94%. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same period last year, the business posted $1.59 EPS. The company's revenue was up 1.9% on a year-over-year basis. As a group, equities research analysts forecast that Tetra Tech, Inc. will post 1.37 EPS for the current year.

Tetra Tech Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be paid a $0.065 dividend. This represents a $0.26 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Friday, August 15th. Tetra Tech's dividend payout ratio (DPR) is 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.

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