Jefferies Financial Group Inc. Cuts 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. reduced its position in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 98.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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.

Other large investors also recently modified their holdings of the company. Chilton Capital Management LLC purchased a new stake in shares of Tetra Tech during the 1st quarter valued at $25,000. Baillie Gifford & Co. bought a new position in shares of Tetra Tech during the 1st quarter worth $27,000. Caption Management LLC bought a new position in Tetra Tech in the 4th quarter worth about $40,000. MassMutual Private Wealth & Trust FSB boosted its stake in Tetra Tech by 734.2% in the 1st 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 Tetra Tech in the 4th quarter worth about $61,000. 93.89% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Tetra Tech Trading Down 0.9%

TTEK stock traded down $0.35 during midday trading on Tuesday, hitting $36.48. The company had a trading volume of 408,053 shares, compared to its average volume of 2,448,028. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.50. Tetra Tech, Inc. has a 52 week low of $27.27 and a 52 week high of $51.20. The stock has a market cap of $9.58 billion, a price-to-earnings ratio of 45.58 and a beta of 0.92. The stock's 50 day moving average price is $36.48 and its 200 day moving average price is $33.33.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last posted its 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 return on equity of 24.70% and a net margin of 3.94%. The firm had revenue of $1.15 billion for the quarter, compared to analysts' expectations of $1.15 billion. During the same period in the previous year, the firm earned $1.59 earnings per share. The business's revenue was up 1.9% compared to the same quarter last year. As a group, equities research analysts expect that Tetra Tech, Inc. will post 1.37 earnings per share for the current fiscal year.

Tetra Tech Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be paid a $0.065 dividend. This represents a $0.26 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Friday, August 15th. Tetra Tech's dividend payout ratio is presently 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.