Praxis Investment Management Inc. Acquires Shares of 11,900 Tetra Tech, Inc. (NASDAQ:TTEK)

Praxis Investment Management Inc. acquired a new stake in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 11,900 shares of the industrial products company's stock, valued at approximately $348,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nicola Wealth Management LTD. raised its holdings in Tetra Tech by 36.8% in the 4th quarter. Nicola Wealth Management LTD. now owns 65,000 shares of the industrial products company's stock valued at $2,590,000 after acquiring an additional 17,500 shares in the last quarter. Y Intercept Hong Kong Ltd raised its holdings in shares of Tetra Tech by 53.3% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 39,150 shares of the industrial products company's stock worth $1,560,000 after buying an additional 13,606 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of Tetra Tech by 259.3% during the 1st quarter. SG Americas Securities LLC now owns 46,406 shares of the industrial products company's stock worth $1,357,000 after buying an additional 33,491 shares in the last quarter. Robeco Schweiz AG raised its holdings in shares of Tetra Tech by 26.5% during the 4th quarter. Robeco Schweiz AG now owns 2,449,875 shares of the industrial products company's stock worth $97,603,000 after buying an additional 512,931 shares in the last quarter. Finally, Patten Group Inc. acquired a new position in shares of Tetra Tech during the 4th quarter worth $851,000. 93.89% of the stock is owned by institutional investors and hedge funds.

Tetra Tech Trading Down 0.9%

Shares of TTEK stock opened at $35.19 on Monday. Tetra Tech, Inc. has a twelve month low of $27.27 and a twelve month high of $51.20. The stock's fifty day simple moving average is $33.71 and its 200 day simple moving average is $34.35. 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 firm has a market capitalization of $9.27 billion, a P/E ratio of 51.15 and a beta of 0.95.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last issued its earnings results on Wednesday, May 7th. The industrial products company reported $0.33 earnings per share (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 business had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.05 billion. During the same quarter in the prior year, the firm earned $0.28 EPS. The business's revenue for the quarter was up 25.9% compared to the same quarter last year. As a group, sell-side analysts predict that Tetra Tech, Inc. will post 1.37 EPS for the current fiscal year.

Tetra Tech Increases Dividend

The company 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 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date was Friday, May 23rd. This is a boost from Tetra Tech's previous quarterly dividend of $0.06. Tetra Tech's dividend payout ratio is presently 37.68%.

Wall Street Analyst Weigh In

TTEK has been the subject of a number of research analyst reports. Robert W. Baird boosted their price target on Tetra Tech from $31.00 to $33.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. KeyCorp boosted their price target on Tetra Tech from $34.00 to $41.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Finally, Maxim Group cut 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 issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $41.00.

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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