VELA Investment Management LLC boosted its position in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 16.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 72,731 shares of the industrial products company's stock after buying 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 hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC grew its position in Tetra Tech by 13.0% during the fourth quarter. Farther Finance Advisors LLC now owns 4,009 shares of the industrial products company's stock valued at $160,000 after buying an additional 461 shares during the period. Fifth Third Bancorp grew its position in Tetra Tech by 9.7% during the first quarter. Fifth Third Bancorp now owns 5,351 shares of the industrial products company's stock valued at $157,000 after buying an additional 475 shares during the period. Jones Financial Companies Lllp grew its position in Tetra Tech by 98.0% during the fourth quarter. Jones Financial Companies Lllp now owns 1,000 shares of the industrial products company's stock valued at $40,000 after buying an additional 495 shares during the period. TT International Asset Management LTD grew its position in Tetra Tech by 3.1% during the first quarter. TT International Asset Management LTD now owns 16,993 shares of the industrial products company's stock valued at $497,000 after buying an additional 515 shares during the period. Finally, Arizona State Retirement System grew its position in Tetra Tech by 0.8% during the fourth quarter. Arizona State Retirement System now owns 77,643 shares of the industrial products company's stock valued at $3,093,000 after buying an additional 619 shares during the period. Institutional investors and hedge funds own 93.89% of the company's stock.
Tetra Tech Price Performance
TTEK traded down $0.89 during midday trading on Friday, hitting $35.72. 1,552,388 shares of the company traded hands, compared to its average volume of 2,132,094. The business has a 50 day simple moving average of $34.79 and a two-hundred day simple moving average of $33.94. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $9.41 billion, a price-to-earnings ratio of 51.91 and a beta of 0.94. Tetra Tech, Inc. has a 52-week low of $27.27 and a 52-week 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 earnings per share for the quarter, topping the consensus estimate 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 net margin of 3.44% and a return on equity of 23.31%. The company's revenue for the quarter was up 25.9% on a year-over-year basis. During the same period last year, the firm posted $0.28 earnings per share. On average, equities analysts forecast that Tetra Tech, Inc. will post 1.37 earnings per share for the current fiscal year.
Tetra Tech Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Friday, May 23rd were paid a $0.065 dividend. This is an increase from Tetra Tech's previous quarterly dividend of $0.06. This represents a $0.26 annualized dividend and a dividend yield of 0.73%. The ex-dividend date was Friday, May 23rd. Tetra Tech's dividend payout ratio (DPR) is currently 37.68%.
Wall Street Analyst Weigh In
Several analysts recently commented on the stock. Robert W. Baird raised 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. KeyCorp increased their price objective on shares of Tetra Tech from $34.00 to $41.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Finally, Maxim Group downgraded shares of Tetra Tech from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $41.00.
Check Out Our Latest Research Report on Tetra Tech
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.
Featured Stories

Before you consider Tetra Tech, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Tetra Tech wasn't on the list.
While Tetra Tech currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Learn the basics of options trading and how to use them to boost returns and manage risk with this free report from MarketBeat. Click the link below to get your free copy.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.