Focus Partners Wealth Boosts Holdings in Tetra Tech, Inc. (NASDAQ:TTEK)

Focus Partners Wealth raised its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 164.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,802 shares of the industrial products company's stock after purchasing an additional 15,421 shares during the period. Focus Partners Wealth's holdings in Tetra Tech were worth $988,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. raised its position in shares of Tetra Tech by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 25,912,103 shares of the industrial products company's stock valued at $1,032,338,000 after buying an additional 127,757 shares during the last quarter. Pictet Asset Management Holding SA raised its position in shares of Tetra Tech by 2.8% in the fourth quarter. Pictet Asset Management Holding SA now owns 14,018,887 shares of the industrial products company's stock valued at $558,512,000 after buying an additional 381,437 shares during the last quarter. Amundi raised its position in shares of Tetra Tech by 2.5% in the fourth quarter. Amundi now owns 4,873,176 shares of the industrial products company's stock valued at $194,314,000 after buying an additional 117,304 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Tetra Tech by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 4,729,696 shares of the industrial products company's stock valued at $188,487,000 after buying an additional 13,616 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Tetra Tech in the fourth quarter valued at about $121,390,000. 93.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Robert W. Baird raised their price objective on shares of Tetra Tech from $31.00 to $33.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Royal Bank of Canada set a $49.00 price objective on shares of Tetra Tech in a research report on Friday, January 31st. KeyCorp raised their price objective on shares of Tetra Tech from $34.00 to $41.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Finally, Maxim Group cut shares of Tetra Tech from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Tetra Tech has an average rating of "Hold" and an average target price of $41.00.

Tetra Tech Trading Down 0.1%

Tetra Tech stock traded down $0.03 during midday trading on Friday, hitting $35.42. 2,024,442 shares of the stock were exchanged, compared to its average volume of 2,080,827. Tetra Tech, Inc. has a fifty-two week low of $27.27 and a fifty-two week high of $51.20. The stock has a market capitalization of $9.33 billion, a price-to-earnings ratio of 37.21 and a beta of 0.92. The stock's 50-day simple moving average is $31.27 and its 200 day simple moving average is $35.52. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.53.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $0.33 earnings per share for the quarter, beating analysts' consensus estimates of $0.31 by $0.02. Tetra Tech had a net margin of 4.81% and a return on equity of 22.58%. The business had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.05 billion. During the same period last year, the business earned $0.28 earnings per share. The business's revenue for the quarter was up 25.9% on a year-over-year basis. On average, equities analysts anticipate that Tetra Tech, Inc. will post 1.37 EPS for the current year.

Tetra Tech Increases Dividend

The business 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 is Friday, May 23rd. This is a boost from Tetra Tech's previous quarterly dividend of $0.06. This represents a $0.26 dividend on an annualized basis and a dividend yield of 0.73%. Tetra Tech's dividend payout ratio (DPR) is currently 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.