Systematic Financial Management LP Trims Position in Tetra Tech, Inc. (NASDAQ:TTEK)

Systematic Financial Management LP decreased its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 19.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 181,219 shares of the industrial products company's stock after selling 44,937 shares during the quarter. Systematic Financial Management LP owned about 0.07% of Tetra Tech worth $7,220,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund lifted its position in Tetra Tech by 0.7% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 54,525 shares of the industrial products company's stock valued at $2,172,000 after purchasing an additional 400 shares during the last quarter. CIBC Asset Management Inc grew its position in Tetra Tech by 5.6% in the 4th quarter. CIBC Asset Management Inc now owns 8,318 shares of the industrial products company's stock valued at $331,000 after acquiring an additional 438 shares during the last quarter. Farther Finance Advisors LLC increased its stake 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. Jones Financial Companies Lllp raised its stake in shares of Tetra Tech by 98.0% during the fourth quarter. Jones Financial Companies Lllp now owns 1,000 shares of the industrial products company's stock valued at $40,000 after acquiring an additional 495 shares in the last quarter. Finally, Osprey Private Wealth LLC lifted its holdings in shares of Tetra Tech by 0.3% in the 4th quarter. Osprey Private Wealth LLC now owns 170,850 shares of the industrial products company's stock worth $6,807,000 after buying an additional 525 shares during the period. Hedge funds and other institutional investors own 93.89% of the company's stock.

Tetra Tech Stock Down 0.4%

Shares of Tetra Tech stock traded down $0.15 during trading on Thursday, reaching $35.45. The company's stock had a trading volume of 2,460,693 shares, compared to its average volume of 2,073,501. The company has a 50-day simple moving average of $31.03 and a two-hundred day simple moving average of $35.72. Tetra Tech, Inc. has a 1-year low of $27.27 and a 1-year high of $51.20. The company has a market cap of $9.34 billion, a price-to-earnings ratio of 37.24 and a beta of 0.92. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.53.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $0.33 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter last year, the company earned $0.28 earnings per share. The company's quarterly revenue was up 25.9% on a year-over-year basis. As a group, equities analysts forecast that Tetra Tech, Inc. will post 1.37 earnings per share for the current year.

Tetra Tech Increases Dividend

The company 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 represents a $0.26 dividend on an annualized basis and a yield of 0.73%. This is a boost 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 equities analysts have recently issued reports on TTEK shares. Robert W. Baird increased their price objective on shares of Tetra Tech from $31.00 to $33.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Royal Bank of Canada set a $49.00 target price on Tetra Tech in a research note on Friday, January 31st. Maxim Group downgraded shares of Tetra Tech from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Finally, KeyCorp raised their price target on shares of Tetra Tech from $34.00 to $41.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price 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.