Tidal Investments LLC Buys 421,209 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

Tidal Investments LLC increased its stake in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 3,593.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 432,931 shares of the industrial products company's stock after acquiring an additional 421,209 shares during the period. Tidal Investments LLC owned about 0.16% of Tetra Tech worth $17,248,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of TTEK. R Squared Ltd purchased a new stake in Tetra Tech in the 4th quarter worth approximately $39,000. Asset Planning Inc purchased a new stake in Tetra Tech in the 4th quarter worth approximately $40,000. Jones Financial Companies Lllp lifted its holdings in Tetra Tech by 98.0% in the 4th quarter. Jones Financial Companies Lllp now owns 1,000 shares of the industrial products company's stock worth $40,000 after buying an additional 495 shares during the period. Caption Management LLC purchased a new stake in Tetra Tech in the 4th quarter worth approximately $40,000. Finally, Blue Trust Inc. lifted its holdings in Tetra Tech by 235.8% in the 4th quarter. Blue Trust Inc. now owns 1,444 shares of the industrial products company's stock worth $58,000 after buying an additional 1,014 shares during the period. Institutional investors own 93.89% of the company's stock.

Tetra Tech Stock Down 0.1%

TTEK traded down $0.03 during trading on Friday, hitting $35.42. 2,024,442 shares of the company's stock traded hands, compared to its average volume of 2,083,532. The company's 50 day simple moving average is $31.27 and its two-hundred day simple moving average is $35.44. 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 stock has a market capitalization of $9.33 billion, a price-to-earnings ratio of 37.21 and a beta of 0.92.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $0.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.31 by $0.02. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.05 billion. Tetra Tech had a return on equity of 22.58% and a net margin of 4.81%. The company's revenue for the quarter was up 25.9% on a year-over-year basis. During the same period last year, the business posted $0.28 EPS. Analysts predict that Tetra Tech, Inc. will post 1.37 earnings per share for the current fiscal year.

Tetra Tech Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Friday, May 23rd will be given a dividend of $0.065 per share. The ex-dividend date of this dividend is Friday, May 23rd. This is an increase from Tetra Tech's previous quarterly dividend of $0.06. This represents a $0.26 annualized dividend and a yield of 0.73%. Tetra Tech's payout ratio is 37.68%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in 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 report on Friday, May 9th. Robert W. Baird increased their price objective on Tetra Tech from $31.00 to $33.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Maxim Group lowered Tetra Tech from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. Finally, Royal Bank of Canada set a $49.00 target price on 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 given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $41.00.

Tetra Tech Profile

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.