VELA Investment Management LLC Has $2.13 Million Stock Position in Tetra Tech, Inc. (NASDAQ:TTEK)

VELA Investment Management LLC raised its stake in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 16.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 72,731 shares of the industrial products company's stock after purchasing 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.

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

Tetra Tech Price Performance

NASDAQ TTEK traded down $0.31 during midday trading on Monday, hitting $36.30. The company had a trading volume of 620,694 shares, compared to its average volume of 2,126,251. The company has a market capitalization of $9.56 billion, a PE ratio of 52.76 and a beta of 0.94. 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 firm has a 50-day moving average price of $34.79 and a 200-day moving average price of $33.94. 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 quarterly earnings data 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. Tetra Tech had a return on equity of 23.31% and a net margin of 3.44%. The firm had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.05 billion. During the same period in the previous year, the firm earned $0.28 EPS. The company's quarterly revenue was up 25.9% compared to the same quarter last year. As a group, 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 declared a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Friday, May 23rd were issued a dividend of $0.065 per share. The ex-dividend date was Friday, May 23rd. This represents a $0.26 dividend on an annualized basis and a dividend yield of 0.72%. This is a boost from Tetra Tech's previous quarterly dividend of $0.06. Tetra Tech's payout ratio is 37.68%.

Wall Street Analysts Forecast Growth

TTEK has been the subject of several recent research reports. KeyCorp boosted their price target on Tetra Tech from $34.00 to $41.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Maxim Group downgraded Tetra Tech from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. Finally, Robert W. Baird boosted their price target on Tetra Tech from $31.00 to $33.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $41.00.

Tetra Tech Company 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.