Thornburg Investment Management Inc. cut its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 16.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 172,131 shares of the industrial products company's stock after selling 32,890 shares during the quarter. Thornburg Investment Management Inc. owned 0.06% of Tetra Tech worth $6,858,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Tetra Tech by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 25,912,103 shares of the industrial products company's stock valued at $1,032,338,000 after acquiring an additional 127,757 shares in the last quarter. Pictet Asset Management Holding SA boosted its holdings in Tetra Tech by 2.8% in the 4th quarter. Pictet Asset Management Holding SA now owns 14,018,887 shares of the industrial products company's stock valued at $558,512,000 after purchasing an additional 381,437 shares in the last quarter. Amundi increased its position in Tetra Tech by 2.5% during the 4th quarter. Amundi now owns 4,873,176 shares of the industrial products company's stock worth $194,314,000 after purchasing an additional 117,304 shares during the period. Geode Capital Management LLC raised its stake in shares of Tetra Tech by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 4,729,696 shares of the industrial products company's stock worth $188,487,000 after buying an additional 13,616 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Tetra Tech in the fourth quarter valued at approximately $121,390,000. 93.89% of the stock is currently owned by hedge funds and other institutional investors.
Tetra Tech Price Performance
Shares of TTEK stock traded up $0.15 during mid-day trading on Wednesday, reaching $35.60. The stock had a trading volume of 2,498,838 shares, compared to its average volume of 2,071,952. The company has a market cap of $9.38 billion, a P/E ratio of 37.39 and a beta of 0.92. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.53. Tetra Tech, Inc. has a 12-month low of $27.27 and a 12-month high of $51.20. The business has a 50-day simple moving average of $31.03 and a 200 day simple moving average of $35.72.
Tetra Tech (NASDAQ:TTEK - Get Free Report) last issued its quarterly earnings data 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. 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 4.81% and a return on equity of 22.58%. The firm's revenue was up 25.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.28 EPS. On average, sell-side analysts anticipate that Tetra Tech, Inc. will post 1.37 earnings per share for the current year.
Tetra Tech Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Friday, May 23rd will be issued a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date of this dividend is Friday, May 23rd. This is a boost from Tetra Tech's previous quarterly dividend of $0.06. Tetra Tech's dividend payout ratio is 37.68%.
Analyst Ratings Changes
Several research analysts have issued reports on the company. KeyCorp increased their price objective on Tetra Tech from $34.00 to $41.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Maxim Group downgraded shares of Tetra Tech from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Royal Bank of Canada set a $49.00 price objective on shares of Tetra Tech in a report on Friday, January 31st. Finally, Robert W. Baird increased their target price on shares of Tetra Tech from $31.00 to $33.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $41.00.
Get Our Latest Stock Analysis 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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