Sarasin & Partners LLP Takes Position in Tetra Tech, Inc. (NASDAQ:TTEK)

Sarasin & Partners LLP bought a new stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 4,628,564 shares of the industrial products company's stock, valued at approximately $135,386,000. Tetra Tech accounts for about 1.4% of Sarasin & Partners LLP's portfolio, making the stock its 28th biggest holding. Sarasin & Partners LLP owned about 1.73% of Tetra Tech as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Nicola Wealth Management LTD. increased its stake 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 worth $2,590,000 after acquiring an additional 17,500 shares during the last quarter. Lecap Asset Management Ltd. grew its position in Tetra Tech by 71.3% during the 4th quarter. Lecap Asset Management Ltd. now owns 44,769 shares of the industrial products company's stock worth $1,784,000 after acquiring an additional 18,635 shares during the last quarter. Y Intercept Hong Kong Ltd grew its position in 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 acquiring an additional 13,606 shares during the last quarter. Robeco Schweiz AG grew its holdings in Tetra Tech by 26.5% in the 4th quarter. Robeco Schweiz AG now owns 2,449,875 shares of the industrial products company's stock worth $97,603,000 after acquiring an additional 512,931 shares during the last quarter. Finally, Asset Management One Co. Ltd. grew its stake in shares of Tetra Tech by 4.0% in the fourth quarter. Asset Management One Co. Ltd. now owns 307,996 shares of the industrial products company's stock worth $12,266,000 after purchasing an additional 11,875 shares during the last quarter. 93.89% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on TTEK shares. Robert W. Baird boosted 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. KeyCorp lifted their price objective on Tetra Tech from $34.00 to $41.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Finally, Maxim Group cut shares of Tetra Tech from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, Tetra Tech currently has an average rating of "Hold" and a consensus price target of $41.00.

Tetra Tech Stock Performance

NASDAQ TTEK traded up $0.01 on Thursday, reaching $35.33. 638,903 shares of the stock were exchanged, compared to its average volume of 2,094,478. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.53. The company's 50-day simple moving average is $32.20 and its two-hundred day simple moving average is $34.93. The firm has a market capitalization of $9.31 billion, a PE ratio of 37.11 and a beta of 0.92. Tetra Tech, Inc. has a one year low of $27.27 and a one year high of $51.20.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last posted its quarterly 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 22.58% and a net margin of 4.81%. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the prior year, the company earned $0.28 EPS. The business's revenue was up 25.9% compared to the same quarter last year. Analysts expect that Tetra Tech, Inc. will post 1.37 EPS for the current fiscal year.

Tetra Tech Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Friday, May 23rd will be given a dividend of $0.065 per share. The ex-dividend date of this dividend is Friday, May 23rd. This is a boost from Tetra Tech's previous quarterly dividend of $0.06. This represents a $0.26 dividend on an annualized basis and a dividend yield of 0.74%. Tetra Tech's dividend payout ratio (DPR) is currently 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.