Tetra Tech, Inc. (NASDAQ:TTEK) Shares Sold by Polen Capital Management LLC

Key Points

• Polen Capital Management LLC reduced its stake in Tetra Tech, Inc. by 67.4%, selling 29,101 shares to hold 14,061 shares valued at approximately $411,000.
• Several large investors have adjusted their positions, with significant moves including SG Americas Securities LLC's 259.3% increase in holdings, now valued at $1.36 million.
• Tetra Tech recently announced a quarterly dividend of $0.065 per share, with a payout date of August 29th and an annualized yield of 0.7%.

Polen Capital Management LLC reduced its position in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 67.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,061 shares of the industrial products company's stock after selling 29,101 shares during the quarter. Polen Capital Management LLC's holdings in Tetra Tech were worth $411,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Sarasin & Partners LLP purchased a new stake in shares of Tetra Tech in the 1st quarter worth about $144,799,000. Jacobs Levy Equity Management Inc. grew its position in shares of Tetra Tech by 814.2% in 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 buying an additional 2,019,295 shares during the period. Bain Capital Public Equity Management II LLC grew its position in shares of Tetra Tech by 149.5% in the 4th quarter. Bain Capital Public Equity Management II LLC now owns 2,409,928 shares of the industrial products company's stock worth $96,012,000 after buying an additional 1,443,939 shares during the period. Vanguard Group Inc. grew its position in shares of Tetra Tech by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 27,185,795 shares of the industrial products company's stock worth $795,185,000 after buying an additional 1,273,692 shares during the period. Finally, Van Berkom & Associates Inc. purchased a new stake in shares of Tetra Tech in the 1st quarter worth about $32,816,000. 93.89% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TTEK has been the topic of several recent analyst reports. Robert W. Baird increased 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. Wall Street Zen raised Tetra Tech from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Finally, KeyCorp lifted their price target on shares of Tetra Tech from $41.00 to $43.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Tetra Tech presently has an average rating of "Moderate Buy" and a consensus target price of $41.67.

Tetra Tech Price Performance

TTEK traded down $0.08 during trading hours on Tuesday, hitting $36.74. The company's stock had a trading volume of 1,852,437 shares, compared to its average volume of 1,924,085. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.50. The business's 50-day moving average price is $36.51 and its 200-day moving average price is $33.35. The stock has a market cap of $9.65 billion, a price-to-earnings ratio of 45.93 and a beta of 0.92. Tetra Tech, Inc. has a 12 month low of $27.27 and a 12 month high of $51.20.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last issued its earnings results on Wednesday, July 30th. The industrial products company reported $0.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.37 by $0.06. The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.15 billion. Tetra Tech had a net margin of 3.94% and a return on equity of 24.70%. The business's revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.59 earnings per share. Sell-side analysts expect that Tetra Tech, Inc. will post 1.37 earnings per share for the current fiscal year.

Tetra Tech Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be given a $0.065 dividend. This represents a $0.26 annualized dividend and a yield of 0.7%. The ex-dividend date is Friday, August 15th. Tetra Tech's dividend payout ratio is currently 32.50%.

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.