Wellington Management Group LLP grew its holdings in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 10.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,193,963 shares of the industrial products company's stock after acquiring an additional 116,135 shares during the period. Wellington Management Group LLP owned about 0.45% of Tetra Tech worth $47,567,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also made changes to their positions in the company. R Squared Ltd purchased a new position in shares of Tetra Tech in the fourth quarter valued at about $39,000. Asset Planning Inc purchased a new stake in shares of Tetra Tech in the fourth quarter worth about $40,000. Jones Financial Companies Lllp lifted its position in shares of Tetra Tech by 98.0% in the fourth 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 in the last quarter. Caption Management LLC purchased a new stake in shares of Tetra Tech in the fourth quarter worth about $40,000. Finally, Blue Trust Inc. lifted its position in shares of Tetra Tech by 235.8% in the fourth quarter. Blue Trust Inc. now owns 1,444 shares of the industrial products company's stock worth $58,000 after buying an additional 1,014 shares in the last quarter. 93.89% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
TTEK has been the topic of a number of research analyst reports. KeyCorp boosted their target price on Tetra Tech from $34.00 to $41.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Royal Bank of Canada set a $49.00 target price on Tetra Tech in a research report on Friday, January 31st. Maxim Group downgraded Tetra Tech from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. Finally, Robert W. Baird boosted their price objective on Tetra Tech from $31.00 to $33.00 and gave the stock 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 given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $41.00.
Get Our Latest Stock Analysis on TTEK
Tetra Tech Trading Down 0.3%
Shares of TTEK traded down $0.12 during mid-day trading on Friday, reaching $34.98. 2,683,944 shares of the company's stock traded hands, compared to its average volume of 2,096,133. The stock has a market cap of $9.22 billion, a P/E ratio of 36.74 and a beta of 0.92. The stock's 50-day moving average is $31.86 and its two-hundred day moving average is $35.02. Tetra Tech, Inc. has a 12 month low of $27.27 and a 12 month high of $51.20. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.29 and a quick ratio of 1.29.
Tetra Tech (NASDAQ:TTEK - Get Free Report) last released its earnings results on Wednesday, May 7th. The industrial products company reported $0.33 EPS for the quarter, beating analysts' consensus estimates of $0.31 by $0.02. The firm had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.05 billion. Tetra Tech had a return on equity of 22.58% and a net margin of 4.81%. The company's quarterly revenue was up 25.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.28 earnings per share. Research analysts forecast that Tetra Tech, Inc. will post 1.37 earnings per share for the current fiscal year.
Tetra Tech Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Friday, May 23rd will be paid a $0.065 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $0.26 annualized dividend and a yield of 0.74%. This is a boost from Tetra Tech's previous quarterly dividend of $0.06. Tetra Tech's dividend payout ratio is 37.68%.
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.
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