Harbor Capital Advisors Inc. increased its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 30.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,418 shares of the industrial products company's stock after acquiring an additional 11,340 shares during the period. Harbor Capital Advisors Inc.'s holdings in Tetra Tech were worth $1,416,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Asset Planning Inc purchased a new stake in Tetra Tech during the 4th quarter valued at about $40,000. Jones Financial Companies Lllp lifted its stake in shares of Tetra Tech by 98.0% in the fourth 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 in the last quarter. Caption Management LLC purchased a new stake in shares of Tetra Tech during the fourth quarter valued at approximately $40,000. MassMutual Private Wealth & Trust FSB increased its position in shares of Tetra Tech by 734.2% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,685 shares of the industrial products company's stock valued at $49,000 after acquiring an additional 1,483 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in Tetra Tech by 235.8% in the 4th quarter. Blue Trust Inc. now owns 1,444 shares of the industrial products company's stock worth $58,000 after acquiring an additional 1,014 shares during the last quarter. Hedge funds and other institutional investors own 93.89% of the company's stock.
Tetra Tech Stock Performance
TTEK traded down $0.19 during mid-day trading on Friday, reaching $36.06. 1,913,115 shares of the company traded hands, compared to its average volume of 2,116,416. The company's fifty day moving average price is $32.93 and its 200-day moving average price is $34.71. The stock has a market capitalization of $9.50 billion, a P/E ratio of 37.88 and a beta of 0.95. 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, 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 EPS for the quarter, beating analysts' consensus estimates of $0.31 by $0.02. The company had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.05 billion. Tetra Tech had a return on equity of 22.58% and a net margin of 4.81%. Tetra Tech's revenue for the quarter was up 25.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.28 earnings per share. On average, sell-side analysts expect that Tetra Tech, Inc. will post 1.37 EPS for the current year.
Tetra Tech Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Friday, May 23rd were given a dividend of $0.065 per share. This represents a $0.26 annualized dividend and a yield of 0.72%. This is a positive change from Tetra Tech's previous quarterly dividend of $0.06. The ex-dividend date was Friday, May 23rd. Tetra Tech's payout ratio is 37.68%.
Analysts Set New Price Targets
TTEK has been the topic of several recent analyst reports. Maxim Group downgraded Tetra Tech from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. Robert W. Baird lifted their price objective on Tetra Tech from $31.00 to $33.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Finally, KeyCorp boosted their target price on Tetra Tech from $34.00 to $41.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $41.00.
View Our Latest Stock Analysis on Tetra Tech
About Tetra Tech
(
Free Report)
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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