Summit Trail Advisors LLC Takes $590,000 Position in Tetra Tech, Inc. (NASDAQ:TTEK)

Summit Trail Advisors LLC acquired a new stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 20,157 shares of the industrial products company's stock, valued at approximately $590,000.

Several other hedge funds also recently bought and sold shares of the company. Farther Finance Advisors LLC boosted its holdings 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 buying an additional 461 shares during the period. 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 worth $157,000 after buying an additional 475 shares during the period. Jones Financial Companies Lllp boosted its holdings in Tetra Tech by 98.0% in the 4th 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. TT International Asset Management LTD boosted its holdings in Tetra Tech by 3.1% in the 1st quarter. TT International Asset Management LTD now owns 16,993 shares of the industrial products company's stock worth $497,000 after buying an additional 515 shares during the period. Finally, Arizona State Retirement System boosted its holdings in Tetra Tech by 0.8% in the 4th quarter. Arizona State Retirement System now owns 77,643 shares of the industrial products company's stock worth $3,093,000 after buying an additional 619 shares during the period. Institutional investors own 93.89% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on the stock. Robert W. Baird boosted their price target on shares of Tetra Tech from $31.00 to $33.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Maxim Group cut shares of Tetra Tech from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. Finally, KeyCorp boosted their price target 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. 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 an average rating of "Hold" and a consensus target price of $41.00.

Tetra Tech Price Performance

Shares of NASDAQ TTEK traded down $0.89 during mid-day trading on Friday, hitting $35.72. 1,552,388 shares of the company's stock traded hands, compared to its average volume of 2,132,094. The company's 50-day moving average is $34.79 and its two-hundred day moving average is $33.98. 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 company has a market capitalization of $9.41 billion, a P/E ratio of 51.91 and a beta of 0.94. Tetra Tech, Inc. has a 1 year low of $27.27 and a 1 year high of $51.20.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last announced its 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 for the quarter, compared to analysts' expectations of $1.05 billion. Tetra Tech had a net margin of 3.44% and a return on equity of 23.31%. The business's revenue was up 25.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.28 EPS. On average, equities analysts anticipate that Tetra Tech, Inc. will post 1.37 EPS for the current fiscal year.

Tetra Tech Increases Dividend

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