Sumitomo Mitsui DS Asset Management Company Ltd Has $2.38 Million Holdings in Tetra Tech, Inc. (NASDAQ:TTEK)

Sumitomo Mitsui DS Asset Management Company Ltd lessened its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 54.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 81,380 shares of the industrial products company's stock after selling 96,688 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Tetra Tech were worth $2,380,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Farther Finance Advisors LLC boosted its position in shares of Tetra Tech by 13.0% during the 4th quarter. Farther Finance Advisors LLC now owns 4,009 shares of the industrial products company's stock worth $160,000 after acquiring an additional 461 shares in the last quarter. Fifth Third Bancorp boosted its position in shares of Tetra Tech by 9.7% during the 1st quarter. Fifth Third Bancorp now owns 5,351 shares of the industrial products company's stock worth $157,000 after acquiring an additional 475 shares in the last quarter. Jones Financial Companies Lllp boosted 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 worth $40,000 after acquiring an additional 495 shares in the last quarter. TT International Asset Management LTD boosted its position in shares of Tetra Tech by 3.1% during the 1st quarter. TT International Asset Management LTD now owns 16,993 shares of the industrial products company's stock worth $497,000 after acquiring an additional 515 shares in the last quarter. Finally, Arizona State Retirement System boosted its position in shares of Tetra Tech by 0.8% during the 4th quarter. Arizona State Retirement System now owns 77,643 shares of the industrial products company's stock worth $3,093,000 after acquiring an additional 619 shares in the last quarter. Institutional investors and hedge funds own 93.89% of the company's stock.

Analysts Set New Price Targets

TTEK has been the topic of several analyst reports. Maxim Group lowered shares of Tetra Tech from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. KeyCorp increased their price target on shares of Tetra Tech from $34.00 to $41.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Finally, Robert W. Baird raised their target price on shares of Tetra Tech from $31.00 to $33.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, Tetra Tech has an average rating of "Hold" and a consensus target price of $41.00.

Tetra Tech Stock Performance

Shares of Tetra Tech stock opened at $35.72 on Friday. Tetra Tech, Inc. has a fifty-two week low of $27.27 and a fifty-two week high of $51.20. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.10 and a quick ratio of 1.10. The firm has a market capitalization of $9.41 billion, a P/E ratio of 51.91 and a beta of 0.94. The company's 50 day moving average price is $34.79 and its two-hundred day moving average price is $34.03.

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 (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.02. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.05 billion. Tetra Tech had a net margin of 3.44% and a return on equity of 23.31%. The company's revenue for the quarter was up 25.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.28 earnings per share. On average, equities analysts forecast that Tetra Tech, Inc. will post 1.37 earnings per share for the current fiscal year.

Tetra Tech Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Friday, May 23rd were paid a dividend of $0.065 per share. The ex-dividend date was Friday, May 23rd. This represents a $0.26 annualized dividend and a dividend yield of 0.73%. This is an increase from Tetra Tech's previous quarterly dividend of $0.06. Tetra Tech's dividend payout ratio (DPR) 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.

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