Commerce Bank Buys 19,085 Shares of 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 shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 25.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 93,806 shares of the industrial products company's stock after acquiring an additional 19,085 shares during the quarter. Commerce Bank's holdings in Tetra Tech were worth $2,744,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Chilton Capital Management LLC bought a new position in shares of Tetra Tech in the first quarter worth $25,000. Baillie Gifford & Co. bought a new position in shares of Tetra Tech in the first quarter worth $27,000. Caption Management LLC bought a new position in shares of Tetra Tech in the fourth quarter worth $40,000. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Tetra Tech by 734.2% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,685 shares of the industrial products company's stock worth $49,000 after purchasing an additional 1,483 shares during the period. Finally, Johnson Financial Group Inc. bought a new position in shares of Tetra Tech in the fourth quarter worth $61,000. Institutional investors own 93.89% of the company's stock.

Tetra Tech Trading Down 0.3%

NASDAQ TTEK traded down $0.10 during trading on Wednesday, hitting $37.27. 3,141,909 shares of the company's stock traded hands, compared to its average volume of 2,477,123. The stock has a fifty day moving average of $36.32 and a two-hundred day moving average of $33.49. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.18 and a quick ratio of 1.10. Tetra Tech, Inc. has a 12-month low of $27.27 and a 12-month high of $51.20. The firm has a market cap of $9.79 billion, a P/E ratio of 46.59 and a beta of 0.92.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $0.43 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same period in the prior year, the business posted $1.59 earnings per share. The company's revenue was up 1.9% on a year-over-year basis. As a group, sell-side analysts expect that Tetra Tech, Inc. will post 1.37 EPS for the current year.

Tetra Tech Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Stockholders 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 dividend yield of 0.7%. The ex-dividend date is Friday, August 15th. Tetra Tech's dividend payout ratio is currently 32.50%.

Analyst Upgrades and Downgrades

TTEK has been the subject of several research reports. Robert W. Baird upped their target price 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. KeyCorp upped their target price on shares of Tetra Tech from $41.00 to $43.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Finally, Wall Street Zen upgraded shares of Tetra Tech from a "hold" rating to a "buy" rating in a research report on Saturday. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Tetra Tech has a consensus rating of "Moderate Buy" and a consensus price target of $41.67.

About Tetra Tech

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.