Riverbend Wealth Management LLC Invests $298,000 in Tetra Tech, Inc. (NASDAQ:TTEK)

Riverbend Wealth Management LLC acquired a new position in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 10,183 shares of the industrial products company's stock, valued at approximately $298,000.

Several other large investors have also recently added to or reduced their stakes in TTEK. Jones Financial Companies Lllp increased its position in Tetra Tech by 98.0% in the fourth quarter. Jones Financial Companies Lllp now owns 1,000 shares of the industrial products company's stock worth $40,000 after buying an additional 495 shares during the period. Caption Management LLC acquired a new stake in Tetra Tech in the fourth quarter worth $40,000. MassMutual Private Wealth & Trust FSB increased its position in Tetra Tech by 734.2% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,685 shares of the industrial products company's stock worth $49,000 after buying an additional 1,483 shares during the period. Blue Trust Inc. increased its holdings in shares of Tetra Tech by 235.8% during the fourth quarter. Blue Trust Inc. now owns 1,444 shares of the industrial products company's stock valued at $58,000 after purchasing an additional 1,014 shares during the period. Finally, Johnson Financial Group Inc. acquired a new position in shares of Tetra Tech during the fourth quarter valued at $61,000. 93.89% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Tetra Tech Price Performance

NASDAQ:TTEK traded down $0.41 during mid-day trading on Friday, reaching $35.64. 2,886,095 shares of the stock were exchanged, compared to its average volume of 2,139,600. The business has a fifty day moving average price of $34.27 and a 200 day moving average price of $34.23. The firm has a market capitalization of $9.39 billion, a PE ratio of 51.80 and a beta of 0.95. Tetra Tech, Inc. has a 1-year low of $27.27 and a 1-year 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.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last released 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. The firm 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%. Tetra Tech's revenue was up 25.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.28 earnings per share. Research analysts expect that Tetra Tech, Inc. will post 1.37 earnings per share for the current fiscal year.

Tetra Tech Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Friday, May 23rd were given a $0.065 dividend. This represents a $0.26 annualized dividend and a dividend yield of 0.73%. The ex-dividend date of this dividend was Friday, May 23rd. This is an increase from Tetra Tech's previous quarterly dividend of $0.06. Tetra Tech's dividend 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.