Pictet Asset Management Holding SA Buys 484,053 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

Pictet Asset Management Holding SA raised its holdings in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 3.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,502,940 shares of the industrial products company's stock after purchasing an additional 484,053 shares during the quarter. Pictet Asset Management Holding SA owned 5.41% of Tetra Tech worth $424,209,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Tetra Tech by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 25,912,103 shares of the industrial products company's stock worth $1,032,338,000 after purchasing an additional 127,757 shares in the last quarter. Sarasin & Partners LLP purchased a new stake in Tetra Tech during the 1st quarter worth about $144,799,000. Geode Capital Management LLC lifted its holdings in 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 worth $188,487,000 after purchasing an additional 13,616 shares in the last quarter. Robeco Schweiz AG lifted its holdings in Tetra Tech by 30.3% during the 1st quarter. Robeco Schweiz AG now owns 3,192,116 shares of the industrial products company's stock worth $93,369,000 after purchasing an additional 742,241 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Tetra Tech in the 4th quarter valued at about $121,390,000. Institutional investors own 93.89% of the company's stock.

Wall Street Analysts Forecast Growth

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

Tetra Tech Stock Up 0.2%

Shares of NASDAQ TTEK traded up $0.07 during mid-day trading on Monday, hitting $38.24. 505,904 shares of the stock traded hands, compared to its average volume of 2,141,918. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.10 and a current ratio of 1.10. Tetra Tech, Inc. has a 52 week low of $27.27 and a 52 week high of $51.20. The company has a market cap of $10.08 billion, a price-to-earnings ratio of 55.61 and a beta of 0.94. The stock has a fifty day moving average price of $35.81 and a 200-day moving average price of $33.73.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last released its quarterly 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. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.05 billion. Tetra Tech had a return on equity of 23.31% and a net margin of 3.44%. The firm's revenue was up 25.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.28 earnings per share. Research analysts anticipate that Tetra Tech, Inc. will post 1.37 EPS for the current year.

Tetra Tech Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Friday, May 23rd were issued a $0.065 dividend. This represents a $0.26 annualized dividend and a yield of 0.68%. 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. Tetra Tech's payout ratio is 37.68%.

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.