AEGON ASSET MANAGEMENT UK Plc Cuts Stock Holdings in Tetra Tech, Inc. (NASDAQ:TTEK)

AEGON ASSET MANAGEMENT UK Plc decreased its holdings in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 72.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 343,250 shares of the industrial products company's stock after selling 884,482 shares during the period. AEGON ASSET MANAGEMENT UK Plc owned about 0.13% of Tetra Tech worth $10,037,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Asset Planning Inc acquired a new position in shares of Tetra Tech during the fourth quarter worth $40,000. Jones Financial Companies Lllp grew its stake in shares of Tetra Tech by 98.0% during the fourth quarter. Jones Financial Companies Lllp now owns 1,000 shares of the industrial products company's stock worth $40,000 after purchasing an additional 495 shares in the last quarter. Caption Management LLC acquired a new position in shares of Tetra Tech during the fourth quarter worth $40,000. MassMutual Private Wealth & Trust FSB grew its stake in shares of Tetra Tech by 734.2% during 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 in the last quarter. Finally, Blue Trust Inc. grew its stake in shares of Tetra Tech by 235.8% during the fourth quarter. Blue Trust Inc. now owns 1,444 shares of the industrial products company's stock worth $58,000 after purchasing an additional 1,014 shares in the last quarter. Institutional investors and hedge funds own 93.89% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on TTEK shares. Robert W. Baird boosted their target price 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. KeyCorp boosted their target price 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. Finally, Maxim Group downgraded shares of Tetra Tech from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $41.00.

Tetra Tech Stock Performance

NASDAQ TTEK traded up $0.37 during trading hours on Friday, hitting $35.59. The company had a trading volume of 1,604,348 shares, compared to its average volume of 2,106,035. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.29 and a current ratio of 1.29. Tetra Tech, Inc. has a 1-year low of $27.27 and a 1-year high of $51.20. The company has a market cap of $9.38 billion, a PE ratio of 37.38 and a beta of 0.95. The business has a 50 day moving average of $32.44 and a 200-day moving average of $34.86.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last announced its earnings results on Wednesday, May 7th. The industrial products company reported $0.33 EPS 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 in the prior year, the company earned $0.28 earnings per share. The business's revenue was up 25.9% compared to the same quarter last year. As a group, equities research analysts expect that Tetra Tech, Inc. will post 1.37 EPS for the current year.

Tetra Tech Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Friday, May 23rd were issued a $0.065 dividend. This represents a $0.26 dividend on an annualized basis and a dividend yield of 0.73%. 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. Tetra Tech's dividend payout ratio is presently 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.