Swiss National Bank Lowers Stock Position in Tetra Tech, Inc. (NASDAQ:TTEK)

Key Points

• The Swiss National Bank reduced its stake in Tetra Tech, Inc. by 1.4%, now holding 519,200 shares valued at approximately $15.2 million.
• Analysts have mixed sentiments about Tetra Tech, with recent reports upgrading the stock to a "buy" rating and setting a price target increase, with an average target price of $41.67.
• Tetra Tech reported earnings of $0.43 per share for the most recent quarter, exceeding expectations, along with a quarterly dividend announcement of $0.065 per share.

Swiss National Bank reduced its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 1.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 519,200 shares of the industrial products company's stock after selling 7,300 shares during the period. Swiss National Bank owned 0.19% of Tetra Tech worth $15,187,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. CenterBook Partners LP lifted its holdings in Tetra Tech by 191.9% in the 1st quarter. CenterBook Partners LP now owns 201,986 shares of the industrial products company's stock worth $5,908,000 after purchasing an additional 132,781 shares in the last quarter. Headlands Technologies LLC lifted its holdings in Tetra Tech by 253.8% in the 1st quarter. Headlands Technologies LLC now owns 28,745 shares of the industrial products company's stock worth $841,000 after purchasing an additional 20,621 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Tetra Tech by 2.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,131,293 shares of the industrial products company's stock worth $62,340,000 after purchasing an additional 49,454 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Tetra Tech by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 27,185,795 shares of the industrial products company's stock worth $795,185,000 after purchasing an additional 1,273,692 shares in the last quarter. Finally, iA Global Asset Management Inc. purchased a new position in Tetra Tech in the 1st quarter worth approximately $12,191,000. 93.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TTEK has been the topic of a number of research analyst reports. Robert W. Baird boosted their price target on Tetra Tech from $31.00 to $33.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Wall Street Zen raised Tetra Tech from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Finally, KeyCorp upped their price objective on Tetra Tech from $41.00 to $43.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $41.67.

Tetra Tech Stock Up 1.1%

Shares of TTEK opened at $37.13 on Thursday. The stock has a market capitalization of $9.76 billion, a price-to-earnings ratio of 46.41 and a beta of 0.92. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.18 and a quick ratio of 1.18. The business's 50 day simple moving average is $36.55 and its 200-day simple moving average is $33.38. 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 released its earnings results on Wednesday, July 30th. The industrial products company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.06. The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.15 billion. Tetra Tech had a return on equity of 24.70% and a net margin of 3.94%. The company's revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.59 EPS. As a group, equities analysts expect that Tetra Tech, Inc. will post 1.37 earnings per share for the current fiscal year.

Tetra Tech Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be given a dividend of $0.065 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $0.26 annualized dividend and a dividend yield of 0.7%. Tetra Tech's payout ratio is currently 32.50%.

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.

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