Tetra Tech, Inc. (NASDAQ:TTEK) Shares Bought by VELA Investment Management LLC

VELA Investment Management LLC grew its position in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 16.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 72,731 shares of the industrial products company's stock after acquiring an additional 10,193 shares during the quarter. VELA Investment Management LLC's holdings in Tetra Tech were worth $2,127,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Impax Asset Management Group plc boosted its stake in Tetra Tech by 3.6% during the 1st quarter. Impax Asset Management Group plc now owns 24,600 shares of the industrial products company's stock worth $720,000 after purchasing an additional 846 shares during the period. Catalyst Capital Advisors LLC boosted its stake in shares of Tetra Tech by 16.2% during the first quarter. Catalyst Capital Advisors LLC now owns 72,960 shares of the industrial products company's stock worth $2,134,000 after buying an additional 10,159 shares during the period. OneDigital Investment Advisors LLC boosted its stake in shares of Tetra Tech by 40.5% during the first quarter. OneDigital Investment Advisors LLC now owns 9,266 shares of the industrial products company's stock worth $271,000 after buying an additional 2,670 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Tetra Tech by 0.3% during the first quarter. Principal Financial Group Inc. now owns 621,677 shares of the industrial products company's stock worth $18,184,000 after buying an additional 1,960 shares during the period. Finally, Novem Group lifted its position in Tetra Tech by 6.6% during the 1st quarter. Novem Group now owns 14,673 shares of the industrial products company's stock worth $429,000 after acquiring an additional 910 shares during the period. 93.89% of the stock is owned by institutional investors and hedge funds.

Tetra Tech Stock Performance

NASDAQ:TTEK traded down $0.20 during mid-day trading on Monday, reaching $36.40. The stock had a trading volume of 1,075,572 shares, compared to its average volume of 2,127,867. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.10 and a current ratio of 1.10. The business has a 50 day simple moving average of $34.89 and a 200 day simple moving average of $33.91. The firm has a market capitalization of $9.59 billion, a price-to-earnings ratio of 52.91 and a beta of 0.94. Tetra Tech, Inc. has a twelve month low of $27.27 and a twelve month high of $51.20.

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

Tetra Tech Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Friday, May 23rd were paid a $0.065 dividend. This is a boost from Tetra Tech's previous quarterly dividend of $0.06. The ex-dividend date was Friday, May 23rd. This represents a $0.26 annualized dividend and a dividend yield of 0.71%. Tetra Tech's dividend payout ratio (DPR) is 37.68%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Maxim Group cut Tetra Tech from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. KeyCorp increased their price target on Tetra Tech from $34.00 to $41.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Finally, Robert W. Baird increased their price target on Tetra Tech from $31.00 to $33.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $41.00.

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.