Exchange Traded Concepts LLC boosted its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 48.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 73,181 shares of the industrial products company's stock after purchasing an additional 23,910 shares during the quarter. Exchange Traded Concepts LLC's holdings in Tetra Tech were worth $2,141,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Nicola Wealth Management LTD. lifted its position in shares of Tetra Tech by 36.8% in the 4th quarter. Nicola Wealth Management LTD. now owns 65,000 shares of the industrial products company's stock worth $2,590,000 after acquiring an additional 17,500 shares during the period. Y Intercept Hong Kong Ltd lifted its position in Tetra Tech by 53.3% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 39,150 shares of the industrial products company's stock worth $1,560,000 after purchasing an additional 13,606 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Tetra Tech by 259.3% during the 1st quarter. SG Americas Securities LLC now owns 46,406 shares of the industrial products company's stock worth $1,357,000 after acquiring an additional 33,491 shares during the period. Robeco Schweiz AG lifted its holdings in shares of Tetra Tech by 26.5% during the 4th quarter. Robeco Schweiz AG now owns 2,449,875 shares of the industrial products company's stock worth $97,603,000 after acquiring an additional 512,931 shares during the period. Finally, Patten Group Inc. bought a new position in shares of Tetra Tech during the 4th quarter worth about $851,000. Institutional investors own 93.89% of the company's stock.
Tetra Tech Price Performance
Shares of Tetra Tech stock traded down $0.32 during trading on Friday, reaching $35.19. The company's stock had a trading volume of 4,048,718 shares, compared to its average volume of 2,125,258. The stock has a 50-day moving average price of $33.71 and a two-hundred day moving average price of $34.41. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.49. Tetra Tech, Inc. has a one year low of $27.27 and a one year high of $51.20. The stock has a market capitalization of $9.27 billion, a P/E ratio of 51.15 and a beta of 0.95.
Tetra Tech (NASDAQ:TTEK - Get Free Report) last announced its earnings results on Wednesday, May 7th. The industrial products company reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates of $0.31 by $0.02. Tetra Tech had a net margin of 3.44% and a return on equity of 23.31%. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the previous year, the firm posted $0.28 earnings per share. The company's revenue was up 25.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Tetra Tech, Inc. will post 1.37 EPS for the current fiscal year.
Tetra Tech Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Friday, May 23rd were given a dividend of $0.065 per share. This is a boost from Tetra Tech's previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $0.26 annualized dividend and a dividend yield of 0.74%. Tetra Tech's payout ratio is presently 37.68%.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on TTEK. 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 research note on Friday, May 9th. Robert W. Baird lifted their price objective on Tetra Tech from $31.00 to $33.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Finally, Maxim Group cut Tetra Tech from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, Tetra Tech presently has a consensus rating of "Hold" and an average price target of $41.00.
Get Our Latest Stock Report on TTEK
About Tetra Tech
(
Free Report)
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.
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