Squarepoint Ops LLC Acquires Shares of 189,447 Tetra Tech, Inc. (NASDAQ:TTEK)

Squarepoint Ops LLC purchased a new position in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 189,447 shares of the industrial products company's stock, valued at approximately $7,548,000. Squarepoint Ops LLC owned about 0.07% of Tetra Tech as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of TTEK. New England Research & Management Inc. acquired a new stake in shares of Tetra Tech during the 4th quarter worth $596,000. Nicola Wealth Management LTD. increased its stake in Tetra Tech by 36.8% during the fourth 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. raised its holdings in shares of Tetra Tech by 71.3% in the 4th quarter. Lecap Asset Management Ltd. now owns 44,769 shares of the industrial products company's stock worth $1,784,000 after purchasing an additional 18,635 shares during the period. Y Intercept Hong Kong Ltd lifted its stake in shares of Tetra Tech by 53.3% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 39,150 shares of the industrial products company's stock valued at $1,560,000 after purchasing an additional 13,606 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its stake in shares of Tetra Tech by 866.5% in the 4th quarter. Exchange Traded Concepts LLC now owns 49,271 shares of the industrial products company's stock valued at $1,963,000 after purchasing an additional 44,173 shares in the last quarter. Hedge funds and other institutional investors own 93.89% of the company's stock.

Tetra Tech Stock Up 2.2%

Shares of NASDAQ:TTEK traded up $0.78 during mid-day trading on Tuesday, hitting $36.20. 2,105,131 shares of the company traded hands, compared to its average volume of 2,083,618. The firm's 50 day simple moving average is $31.37 and its 200 day simple moving average is $35.28. The firm has a market cap of $9.54 billion, a P/E ratio of 38.03 and a beta of 0.92. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.29 and a current ratio of 1.29. Tetra Tech, Inc. has a 52-week low of $27.27 and a 52-week high of $51.20.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.31 by $0.02. Tetra Tech had a net margin of 4.81% and a return on equity of 22.58%. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter last year, the firm posted $0.28 earnings per share. The business's quarterly revenue was up 25.9% on a year-over-year basis. On average, equities analysts anticipate that Tetra Tech, Inc. will post 1.37 EPS for the current year.

Tetra Tech Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Friday, May 23rd will be issued a $0.065 dividend. The ex-dividend date is Friday, May 23rd. This represents a $0.26 dividend on an annualized basis and a yield of 0.72%. This is a positive change from Tetra Tech's previous quarterly dividend of $0.06. Tetra Tech's payout ratio is currently 37.68%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Maxim Group downgraded shares of Tetra Tech from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. KeyCorp boosted their price objective 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. Royal Bank of Canada set a $49.00 target price on shares of Tetra Tech in a research note on Friday, January 31st. Finally, Robert W. Baird upped their price target on shares of Tetra Tech from $31.00 to $33.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Tetra Tech has an average rating of "Hold" and a consensus price target of $41.00.

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.