Trillium Asset Management LLC Cuts Stake in Tetra Tech, Inc. (NASDAQ:TTEK)

Key Points

• Trillium Asset Management LLC reduced its stake in Tetra Tech, Inc. by 15.6% during the first quarter, owning 435,984 shares valued at $12.75 million after selling 80,547 shares.
• Equities analysts upgraded Tetra Tech's rating to "buy" and revised price targets, with KeyCorp raising their target from $41.00 to $43.00, while the consensus price target is now $41.67.
• Tetra Tech announced a quarterly dividend of $0.065 per share, representing an annual yield of 0.7%, with the payment date set for August 29th for shareholders recorded on August 15th.

Trillium Asset Management LLC decreased its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 15.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 435,984 shares of the industrial products company's stock after selling 80,547 shares during the quarter. Trillium Asset Management LLC owned about 0.16% of Tetra Tech worth $12,752,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Brighton Jones LLC acquired a new stake in Tetra Tech in the 4th quarter valued at $225,000. Advisory Services Network LLC grew its position in Tetra Tech by 293.8% in the 4th quarter. Advisory Services Network LLC now owns 8,184 shares of the industrial products company's stock valued at $326,000 after purchasing an additional 6,106 shares during the period. Raymond James Financial Inc. acquired a new stake in Tetra Tech in the 4th quarter valued at $8,611,000. Treasurer of the State of North Carolina grew its position in Tetra Tech by 8.7% in the 4th quarter. Treasurer of the State of North Carolina now owns 144,595 shares of the industrial products company's stock valued at $5,761,000 after purchasing an additional 11,530 shares during the period. Finally, Sterling Capital Management LLC grew its position in Tetra Tech by 47.8% in the 4th quarter. Sterling Capital Management LLC now owns 13,324 shares of the industrial products company's stock valued at $531,000 after purchasing an additional 4,309 shares during the period. Institutional investors and hedge funds own 93.89% of the company's stock.

Tetra Tech Stock Performance

Tetra Tech stock traded down $0.06 during midday trading on Friday, reaching $35.80. The stock had a trading volume of 2,505,657 shares, compared to its average volume of 2,442,419. Tetra Tech, Inc. has a 12 month low of $27.27 and a 12 month high of $51.20. The firm's 50-day moving average price is $36.56 and its 200 day moving average price is $33.36. The firm has a market capitalization of $9.41 billion, a PE ratio of 44.75 and a beta of 0.92. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.50.

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 for the quarter, beating analysts' consensus estimates of $0.37 by $0.06. The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.15 billion. Tetra Tech had a return on equity of 24.70% and a net margin of 3.94%. The company's quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.59 EPS. As a group, research analysts predict that Tetra Tech, Inc. will post 1.37 earnings per share for the current fiscal year.

Tetra Tech Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.065 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $0.26 annualized dividend and a dividend yield of 0.7%. Tetra Tech's payout ratio is presently 32.50%.

Analyst Upgrades and Downgrades

TTEK has been the subject of several research reports. KeyCorp lifted their price target on shares of Tetra Tech from $41.00 to $43.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Robert W. Baird lifted their price target on shares of Tetra Tech from $31.00 to $33.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. 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 given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $41.67.

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.