Rice Hall James & Associates LLC Cuts Holdings in Tetra Tech, Inc. (NASDAQ:TTEK)

Rice Hall James & Associates LLC cut its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 10.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 103,152 shares of the industrial products company's stock after selling 12,127 shares during the quarter. Rice Hall James & Associates LLC's holdings in Tetra Tech were worth $3,017,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Praxis Investment Management Inc. bought a new position in shares of Tetra Tech in the 1st quarter valued at about $348,000. Cambridge Investment Research Advisors Inc. raised its position in Tetra Tech by 39.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 18,496 shares of the industrial products company's stock valued at $541,000 after purchasing an additional 5,275 shares during the period. SG Americas Securities LLC lifted its stake in shares of Tetra Tech by 259.3% in the 1st quarter. SG Americas Securities LLC now owns 46,406 shares of the industrial products company's stock valued at $1,357,000 after purchasing an additional 33,491 shares during the last quarter. Summit Trail Advisors LLC purchased a new position in shares of Tetra Tech in the 1st quarter worth approximately $590,000. Finally, Catalyst Capital Advisors LLC boosted its holdings in shares of Tetra Tech by 16.2% in the 1st quarter. Catalyst Capital Advisors LLC now owns 72,960 shares of the industrial products company's stock worth $2,134,000 after purchasing an additional 10,159 shares during the period. 93.89% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Tetra Tech Stock Up 1.3%

Shares of Tetra Tech stock traded up $0.48 during trading on Wednesday, reaching $37.14. The company's stock had a trading volume of 1,408,580 shares, compared to its average volume of 2,142,018. Tetra Tech, Inc. has a 1-year low of $27.27 and a 1-year high of $51.20. The company has a 50-day simple moving average of $35.69 and a two-hundred day simple moving average of $33.84. 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 company has a market cap of $9.79 billion, a price-to-earnings ratio of 53.98 and a beta of 0.94.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.31 by $0.02. Tetra Tech had a net margin of 3.44% and a return on equity of 23.31%. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the prior year, the firm earned $0.28 EPS. The business's revenue for the quarter was up 25.9% on a year-over-year basis. As a group, equities analysts forecast that Tetra Tech, Inc. will post 1.37 earnings per share for the current year.

Tetra Tech Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Friday, May 23rd were issued a $0.065 dividend. This is an increase from Tetra Tech's previous quarterly dividend of $0.06. The ex-dividend date was Friday, May 23rd. This represents a $0.26 dividend on an annualized basis and a yield of 0.70%. Tetra Tech's dividend payout ratio is presently 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.