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

VELA Investment Management LLC increased its position in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 16.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. 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 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Jones Financial Companies Lllp raised its position in shares of 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 position in shares of Tetra Tech in the 4th quarter worth $40,000. Edmond DE Rothschild Holding S.A. acquired a new stake in Tetra Tech in the 4th quarter valued at $63,000. Johnson Financial Group Inc. acquired a new stake in Tetra Tech in the 4th quarter valued at $61,000. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in Tetra Tech by 734.2% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,685 shares of the industrial products company's stock valued at $49,000 after purchasing an additional 1,483 shares in the last quarter. 93.89% of the stock is owned by hedge funds and other institutional investors.

Tetra Tech Stock Down 0.1%

Shares of Tetra Tech stock traded down $0.03 during trading hours on Tuesday, hitting $36.37. 2,760,845 shares of the company's stock traded hands, compared to its average volume of 2,132,572. The stock has a 50 day simple moving average of $34.99 and a 200-day simple moving average of $33.93. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.49. The company has a market cap of $9.58 billion, a PE ratio of 52.86 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 announced its earnings results on Wednesday, May 7th. The industrial products company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.02. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.05 billion. Tetra Tech had a return on equity of 23.31% and a net margin of 3.44%. The company's revenue was up 25.9% on a year-over-year basis. During the same period last year, the firm earned $0.28 earnings per share. Equities research analysts anticipate that Tetra Tech, Inc. will post 1.37 earnings per share for the current fiscal year.

Tetra Tech Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Friday, May 23rd were paid a dividend of $0.065 per share. The ex-dividend date was 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 dividend yield of 0.71%. Tetra Tech's dividend payout ratio (DPR) is currently 37.68%.

Wall Street Analysts Forecast Growth

TTEK has been the subject of several recent research reports. Maxim Group downgraded Tetra Tech from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. KeyCorp increased their price target on Tetra Tech from $34.00 to $41.00 and gave the company 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 company a "neutral" rating in a report on Thursday, May 8th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price 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.