Thornburg Investment Management Inc. Sells 32,890 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

Thornburg Investment Management Inc. decreased its position 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. The institutional investor owned 172,131 shares of the industrial products company's stock after selling 32,890 shares during the period. Thornburg Investment Management Inc. owned about 0.06% of Tetra Tech worth $6,858,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of TTEK. New England Research & Management Inc. acquired a new position in shares of Tetra Tech during the 4th quarter worth about $596,000. Nicola Wealth Management LTD. increased its position in shares of Tetra Tech by 36.8% in the 4th quarter. Nicola Wealth Management LTD. now owns 65,000 shares of the industrial products company's stock valued at $2,590,000 after buying an additional 17,500 shares in the last quarter. Lecap Asset Management Ltd. grew its stake in Tetra Tech by 71.3% in the fourth quarter. Lecap Asset Management Ltd. now owns 44,769 shares of the industrial products company's stock valued at $1,784,000 after acquiring an additional 18,635 shares during the period. Y Intercept Hong Kong Ltd raised its position in shares of Tetra Tech by 53.3% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 39,150 shares of the industrial products company's stock worth $1,560,000 after purchasing an additional 13,606 shares during the period. Finally, Perpetual Ltd increased its stake in Tetra Tech by 9.6% during the 4th quarter. Perpetual Ltd now owns 215,042 shares of the industrial products company's stock worth $8,567,000 after purchasing an additional 18,842 shares in the last quarter. Institutional investors own 93.89% of the company's stock.

Analysts Set New Price Targets

TTEK has been the subject of several research reports. KeyCorp increased their price objective 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. Maxim Group cut shares of Tetra Tech from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Robert W. Baird raised their price objective on Tetra Tech from $31.00 to $33.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Finally, Royal Bank of Canada set a $49.00 price objective on shares of Tetra Tech in a research report on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, Tetra Tech currently has a consensus rating of "Hold" and an average price target of $41.00.

Tetra Tech Trading Down 0.1%

TTEK traded down $0.05 during trading on Friday, reaching $35.33. 621,369 shares of the company's stock were exchanged, compared to its average volume of 2,072,305. The firm has a fifty day moving average price of $31.15 and a two-hundred day moving average price of $35.62. The stock has a market capitalization of $9.31 billion, a PE ratio of 37.02 and a beta of 0.92. Tetra Tech, Inc. has a one year low of $27.27 and a one year high of $51.20. 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 (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, topping analysts' consensus estimates of $0.31 by $0.02. Tetra Tech had a return on equity of 22.58% and a net margin of 4.81%. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same period in the previous year, the company posted $0.28 EPS. The company's revenue for the quarter was up 25.9% on a year-over-year basis. As a group, equities research analysts forecast that Tetra Tech, Inc. will post 1.37 earnings per share for the current fiscal year.

Tetra Tech Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Friday, May 23rd will be given a dividend of $0.065 per share. This is a positive change from Tetra Tech's previous quarterly dividend of $0.06. This represents a $0.26 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date of this dividend is Friday, May 23rd. Tetra Tech's payout ratio is 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.