Riverbend Wealth Management LLC acquired a new position in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 10,183 shares of the industrial products company's stock, valued at approximately $298,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund boosted its position in shares of Tetra Tech by 0.7% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 54,525 shares of the industrial products company's stock valued at $2,172,000 after acquiring an additional 400 shares during the period. Farther Finance Advisors LLC lifted its stake in Tetra Tech by 13.0% in the 4th quarter. Farther Finance Advisors LLC now owns 4,009 shares of the industrial products company's stock worth $160,000 after purchasing an additional 461 shares in the last quarter. Fifth Third Bancorp boosted its holdings in Tetra Tech by 9.7% in the 1st quarter. Fifth Third Bancorp now owns 5,351 shares of the industrial products company's stock valued at $157,000 after purchasing an additional 475 shares during the period. Jones Financial Companies Lllp grew its position in shares of Tetra Tech by 98.0% during the 4th quarter. Jones Financial Companies Lllp now owns 1,000 shares of the industrial products company's stock valued at $40,000 after purchasing an additional 495 shares in the last quarter. Finally, TT International Asset Management LTD increased its holdings in shares of Tetra Tech by 3.1% in the first quarter. TT International Asset Management LTD now owns 16,993 shares of the industrial products company's stock worth $497,000 after purchasing an additional 515 shares during the period. 93.89% of the stock is currently owned by institutional investors.
Tetra Tech Price Performance
Shares of Tetra Tech stock traded up $0.06 on Thursday, hitting $36.05. 2,217,606 shares of the company traded hands, compared to its average volume of 2,135,144. Tetra Tech, Inc. has a 12-month low of $27.27 and a 12-month high of $51.20. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.49. The company has a market cap of $9.50 billion, a P/E ratio of 52.40 and a beta of 0.95. The firm's 50-day simple moving average is $34.04 and its 200 day simple moving average is $34.32.
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 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 for the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter last year, the business posted $0.28 earnings per share. The company's revenue for the quarter was up 25.9% on a year-over-year basis. Analysts expect that Tetra Tech, Inc. will post 1.37 earnings per share for the current fiscal year.
Tetra Tech Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Friday, May 23rd were issued a $0.065 dividend. This represents a $0.26 dividend on an annualized basis and a dividend yield of 0.72%. This is a positive change 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 presently 37.68%.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently issued reports on the company. Robert W. Baird increased their price objective on Tetra Tech from $31.00 to $33.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Maxim Group lowered Tetra Tech from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. Finally, KeyCorp lifted their price target on 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 issued a buy rating to the stock. Based on data from MarketBeat.com, Tetra Tech has a consensus rating of "Hold" and a consensus target price of $41.00.
Read Our Latest Report on TTEK
Tetra Tech Company Profile
(
Free Report)
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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