Perpetual Ltd Increases Holdings in Tetra Tech, Inc. (NASDAQ:TTEK)

Perpetual Ltd grew its holdings in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 38.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 296,938 shares of the industrial products company's stock after buying an additional 81,896 shares during the quarter. Perpetual Ltd owned approximately 0.11% of Tetra Tech worth $8,685,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in Tetra Tech by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 25,912,103 shares of the industrial products company's stock worth $1,032,338,000 after acquiring an additional 127,757 shares during the period. Pictet Asset Management Holding SA raised its holdings in Tetra Tech by 2.8% in the 4th quarter. Pictet Asset Management Holding SA now owns 14,018,887 shares of the industrial products company's stock worth $558,512,000 after purchasing an additional 381,437 shares in the last quarter. Sarasin & Partners LLP purchased a new stake in shares of Tetra Tech in the 1st quarter worth about $144,799,000. Amundi lifted its position in shares of Tetra Tech by 2.5% in the 4th quarter. Amundi now owns 4,873,176 shares of the industrial products company's stock worth $194,314,000 after purchasing an additional 117,304 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Tetra Tech by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 4,729,696 shares of the industrial products company's stock valued at $188,487,000 after purchasing an additional 13,616 shares in the last quarter. 93.89% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Tetra Tech Trading Down 1.1%

NASDAQ:TTEK opened at $35.64 on Friday. The firm has a market capitalization of $9.39 billion, a P/E ratio of 51.80 and a beta of 0.95. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.10 and a quick ratio of 1.10. Tetra Tech, Inc. has a one year low of $27.27 and a one year high of $51.20. The company's 50-day simple moving average is $34.27 and its 200 day simple moving average is $34.23.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $0.33 EPS for the quarter, topping analysts' consensus estimates of $0.31 by $0.02. Tetra Tech had a return on equity of 23.31% and a net margin of 3.44%. The firm had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.05 billion. During the same period in the previous year, the firm posted $0.28 EPS. The business's revenue for the quarter was up 25.9% compared to the same quarter last year. As a group, analysts forecast that Tetra Tech, Inc. will post 1.37 EPS for the current fiscal 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 paid a dividend of $0.065 per share. This is a positive change from Tetra Tech's previous quarterly dividend of $0.06. This represents a $0.26 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date was Friday, May 23rd. 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.

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