Commerce Bank Has $2.74 Million Stock Position in Tetra Tech, Inc. (NASDAQ:TTEK)

Key Points

• Commerce Bank increased its holdings in Tetra Tech, Inc. by 25.5%, acquiring an additional 19,085 shares, bringing its total to 93,806 shares, valued at approximately $2,744,000.
• Analysts have a consensus rating of "Moderate Buy" for Tetra Tech, with price targets ranging from $33.00 to $43.00.
• Tetra Tech recently announced a quarterly dividend of $0.065 per share, which reflects a 0.7% yield and a payout ratio of 32.50%.

Commerce Bank raised its holdings in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 25.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 93,806 shares of the industrial products company's stock after acquiring an additional 19,085 shares during the period. Commerce Bank's holdings in Tetra Tech were worth $2,744,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Fifth Third Bancorp increased its holdings in shares of Tetra Tech by 9.7% in the 1st quarter. Fifth Third Bancorp now owns 5,351 shares of the industrial products company's stock valued at $157,000 after acquiring an additional 475 shares during the period. TT International Asset Management LTD increased its stake in shares of Tetra Tech by 3.1% during the first quarter. TT International Asset Management LTD now owns 16,993 shares of the industrial products company's stock valued at $497,000 after acquiring an additional 515 shares during the period. Cullen Frost Bankers Inc. lifted its position in shares of Tetra Tech by 30.9% in the 1st quarter. Cullen Frost Bankers Inc. now owns 2,335 shares of the industrial products company's stock valued at $68,000 after acquiring an additional 551 shares in the last quarter. Arkadios Wealth Advisors increased its stake in shares of Tetra Tech by 3.0% during the 1st quarter. Arkadios Wealth Advisors now owns 21,314 shares of the industrial products company's stock worth $623,000 after purchasing an additional 630 shares during the last quarter. Finally, Xponance Inc. raised its stake in Tetra Tech by 1.6% during the 1st quarter. Xponance Inc. now owns 43,677 shares of the industrial products company's stock valued at $1,278,000 after purchasing an additional 674 shares during the last quarter. 93.89% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. KeyCorp increased their price target on Tetra Tech from $41.00 to $43.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Wall Street Zen upgraded shares of Tetra Tech from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Finally, Robert W. Baird lifted their price target 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 equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $41.67.

Tetra Tech Price Performance

TTEK stock traded down $0.10 during trading on Thursday, hitting $37.18. 1,361,686 shares of the company's stock traded hands, compared to its average volume of 2,468,259. The stock has a market capitalization of $9.77 billion, a price-to-earnings ratio of 46.47 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 debt-to-equity ratio of 0.50, a quick ratio of 1.10 and a current ratio of 1.18. The business has a fifty day simple moving average of $36.35 and a 200 day simple moving average of $33.51.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.37 by $0.06. Tetra Tech had a net margin of 3.94% and a return on equity of 24.70%. The company had revenue of $1.15 billion during the quarter, compared to analysts' expectations of $1.15 billion. During the same quarter in the previous year, the business posted $1.59 EPS. The firm's revenue was up 1.9% on a year-over-year basis. As a group, research analysts expect that Tetra Tech, Inc. will post 1.37 EPS for the current fiscal year.

Tetra Tech Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be given 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 is Friday, August 15th. Tetra Tech's payout ratio is 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.