one8zero8 LLC Buys 19,220 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

Key Points

• one8zero8 LLC has increased its position in Tetra Tech, Inc. (NASDAQ:TTEK) by 4.3% in the first quarter, making it the firm's 5th largest investment with a total of 470,520 shares.
• Analysts have expressed mixed views on Tetra Tech; while KeyCorp has raised its target price to $41.00 and gave it an "overweight" rating, Maxim Group downgraded it from "strong-buy" to "hold."
• Tetra Tech recently reported a quarterly earnings increase, with a net revenue of $1.10 billion, exceeding analyst expectations, and announced a slight raise in its quarterly dividend to $0.065 per share.

one8zero8 LLC grew its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 4.3% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 470,520 shares of the industrial products company's stock after acquiring an additional 19,220 shares during the period. Tetra Tech comprises approximately 3.2% of one8zero8 LLC's investment portfolio, making the stock its 5th biggest holding. one8zero8 LLC owned approximately 0.18% of Tetra Tech worth $13,763,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of TTEK. Chilton Capital Management LLC purchased a new stake in shares of Tetra Tech during the 1st quarter worth $25,000. Baillie Gifford & Co. acquired a new stake in Tetra Tech in the first quarter valued at approximately $27,000. Caption Management LLC purchased a new position in Tetra Tech in the fourth quarter worth $40,000. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Tetra Tech by 734.2% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,685 shares of the industrial products company's stock valued at $49,000 after purchasing an additional 1,483 shares during the last quarter. Finally, Johnson Financial Group Inc. purchased a new position in Tetra Tech during the 4th quarter worth $61,000. 93.89% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on TTEK shares. Maxim Group lowered Tetra Tech from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. KeyCorp raised their price target on shares of Tetra Tech from $34.00 to $41.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Finally, Robert W. Baird raised their price objective on Tetra Tech from $31.00 to $33.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Tetra Tech has an average rating of "Hold" and an average target price of $41.00.

Tetra Tech Stock Performance

Shares of NASDAQ:TTEK traded up $0.14 during trading on Wednesday, hitting $37.68. The stock had a trading volume of 659,920 shares, compared to its average volume of 2,456,751. Tetra Tech, Inc. has a 12-month low of $27.27 and a 12-month high of $51.20. The stock has a market capitalization of $9.93 billion, a price-to-earnings ratio of 54.75 and a beta of 0.94. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.49. The stock has a 50-day simple moving average of $36.21 and a two-hundred day simple moving average of $33.67.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.02. The firm 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 23.31% and a net margin of 3.44%. The company's revenue for the quarter was up 25.9% compared to the same quarter last year. During the same period last year, the business posted $0.28 earnings per share. On average, equities research analysts expect that Tetra Tech, Inc. will post 1.37 earnings per share for the current fiscal year.

Tetra Tech Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Friday, May 23rd were issued a dividend of $0.065 per share. This represents a $0.26 annualized dividend and a yield of 0.69%. 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 dividend payout ratio (DPR) is 37.68%.

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.