Vanguard Group Inc. Purchases 1,273,692 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

Vanguard Group Inc. increased its holdings in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 4.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,185,795 shares of the industrial products company's stock after purchasing an additional 1,273,692 shares during the quarter. Vanguard Group Inc. owned 10.14% of Tetra Tech worth $795,185,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Chilton Capital Management LLC bought a new stake in shares of Tetra Tech during the 1st quarter valued at about $25,000. Baillie Gifford & Co. bought a new stake in shares of Tetra Tech during the 1st quarter valued at about $27,000. Caption Management LLC bought a new stake in shares of Tetra Tech during the 4th quarter valued at about $40,000. MassMutual Private Wealth & Trust FSB boosted its stake 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 in the last quarter. Finally, Johnson Financial Group Inc. bought a new stake in shares of Tetra Tech during the 4th quarter valued at about $61,000. Hedge funds and other institutional investors own 93.89% of the company's stock.

Insider Buying and Selling

In other Tetra Tech news, Director Gary Birkenbeuel sold 2,390 shares of the company's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $36.00, for a total transaction of $86,040.00. Following the completion of the sale, the director directly owned 37,725 shares of the company's stock, valued at approximately $1,358,100. This represents a 5.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.40% of the company's stock.

Analysts Set New Price Targets

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

Tetra Tech Stock Down 0.2%

Shares of NASDAQ TTEK traded down $0.06 during midday trading on Friday, hitting $35.80. The stock had a trading volume of 2,527,926 shares, compared to its average volume of 1,929,683. The business's 50 day moving average is $36.57 and its 200-day moving average is $33.31. The company has a market cap of $9.41 billion, a P/E ratio of 44.75 and a beta of 0.92. Tetra Tech, Inc. has a 52 week low of $27.27 and a 52 week high of $51.20. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.50.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last issued its earnings results on Wednesday, July 30th. The industrial products company reported $0.43 earnings per share (EPS) for the quarter, topping 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 net margin of 3.94% and a return on equity of 24.70%. The business's revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.59 earnings per share. As a group, analysts predict that Tetra Tech, Inc. will post 1.37 EPS for the current year.

Tetra Tech Announces Dividend

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

Tetra Tech 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.