Allianz Asset Management GmbH Boosts Holdings in Tetra Tech, Inc. (NASDAQ:TTEK)

Allianz Asset Management GmbH lifted its position in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 7.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,248,668 shares of the industrial products company's stock after buying an additional 158,205 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.84% of Tetra Tech worth $65,774,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of TTEK. Chilton Capital Management LLC purchased a new stake in shares of Tetra Tech during the first quarter worth about $25,000. Caption Management LLC acquired a new stake in shares of Tetra Tech in the fourth quarter worth approximately $40,000. MassMutual Private Wealth & Trust FSB boosted its position 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 acquiring an additional 1,483 shares during the last quarter. Johnson Financial Group Inc. acquired a new stake in shares of Tetra Tech in the fourth quarter worth approximately $61,000. Finally, Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Tetra Tech in the fourth quarter worth approximately $63,000. 93.89% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TTEK has been the topic of several research analyst reports. Robert W. Baird raised 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 raised their target price on shares of Tetra Tech from $34.00 to $41.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Finally, Maxim Group cut shares of Tetra Tech from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Tetra Tech presently has a consensus rating of "Hold" and an average price target of $41.00.

Tetra Tech Trading Down 0.0%

TTEK stock traded down $0.01 during midday trading on Thursday, reaching $38.34. 691,375 shares of the company's stock traded hands, compared to its average volume of 2,484,354. The company has a market capitalization of $10.10 billion, a P/E ratio of 55.72 and a beta of 0.94. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.10 and a quick ratio of 1.10. Tetra Tech, Inc. has a fifty-two week low of $27.27 and a fifty-two week high of $51.20. The business has a 50-day moving average price of $36.00 and a two-hundred day moving average price of $33.77.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $0.33 earnings per share for the quarter, beating analysts' consensus estimates of $0.31 by $0.02. The firm had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.05 billion. Tetra Tech had a net margin of 3.44% and a return on equity of 23.31%. Tetra Tech's revenue was up 25.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.28 earnings per share. Equities research analysts forecast that Tetra Tech, Inc. will post 1.37 EPS for the current fiscal year.

Tetra Tech Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Friday, May 23rd were paid a dividend of $0.065 per share. The ex-dividend date was Friday, May 23rd. This represents a $0.26 dividend on an annualized basis and a dividend yield of 0.68%. This is a positive change from Tetra Tech's previous quarterly dividend of $0.06. Tetra Tech's dividend payout ratio (DPR) is currently 37.68%.

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.