Jefferies Financial Group Inc. Reduces Stake in Tetra Tech, Inc. (NASDAQ:TTEK)

Key Points

• Jefferies Financial Group Inc. significantly reduced its stake in Tetra Tech, selling 969,702 shares during the first quarter, resulting in a 98.9% decrease in holdings.
• Analysts have a consensus rating of "Moderate Buy" for Tetra Tech, with target prices raised by firms like KeyCorp and Robert W. Baird, reflecting optimism about the company's future performance.
• Tetra Tech announced a quarterly dividend of $0.065 per share, which is set to be paid on August 29th, translating to an annualized yield of 0.7%.

Jefferies Financial Group Inc. lessened its holdings in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 98.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,434 shares of the industrial products company's stock after selling 969,702 shares during the period. Jefferies Financial Group Inc.'s holdings in Tetra Tech were worth $305,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in TTEK. Sarasin & Partners LLP acquired a new stake in shares of Tetra Tech during the first quarter valued at about $144,799,000. Jacobs Levy Equity Management Inc. lifted its stake in Tetra Tech by 814.2% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 2,267,296 shares of the industrial products company's stock valued at $90,329,000 after buying an additional 2,019,295 shares during the period. Bain Capital Public Equity Management II LLC lifted its stake in Tetra Tech by 149.5% in the fourth quarter. Bain Capital Public Equity Management II LLC now owns 2,409,928 shares of the industrial products company's stock valued at $96,012,000 after buying an additional 1,443,939 shares during the period. Van Berkom & Associates Inc. acquired a new position in shares of Tetra Tech during the first quarter worth approximately $32,816,000. Finally, Capital International Investors acquired a new position in shares of Tetra Tech during the fourth quarter worth approximately $43,895,000. 93.89% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Tetra Tech Stock Down 1.0%

Tetra Tech stock traded down $0.37 during trading on Friday, hitting $36.87. 1,692,439 shares of the company were exchanged, compared to its average volume of 1,926,350. The company has a market capitalization of $9.69 billion, a P/E ratio of 46.09 and a beta of 0.92. The company has a current ratio of 1.18, a quick ratio of 1.10 and a debt-to-equity ratio of 0.50. The business's 50 day moving average is $36.43 and its 200 day moving average is $33.38. Tetra Tech, Inc. has a 52 week low of $27.27 and a 52 week high of $51.20.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $0.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.37 by $0.06. Tetra Tech had a return on equity of 24.70% and a net margin of 3.94%. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the prior year, the company earned $1.59 EPS. The business's revenue for the quarter was up 1.9% on a year-over-year basis. Analysts predict that Tetra Tech, Inc. will post 1.37 earnings per share for the current year.

Tetra Tech Announces Dividend

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

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.