Wellington Management Group LLP raised its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 10.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,193,963 shares of the industrial products company's stock after purchasing an additional 116,135 shares during the quarter. Wellington Management Group LLP owned 0.45% of Tetra Tech worth $47,567,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently made changes to their positions in the company. R Squared Ltd bought a new position in shares of Tetra Tech during the 4th quarter worth about $39,000. Asset Planning Inc bought a new stake in Tetra Tech in the fourth quarter valued at about $40,000. Jones Financial Companies Lllp increased its stake in 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 valued at $40,000 after acquiring an additional 495 shares during the period. Caption Management LLC bought a new stake in Tetra Tech in the fourth quarter valued at about $40,000. Finally, Blue Trust Inc. increased its stake in Tetra Tech by 235.8% in the fourth quarter. Blue Trust Inc. now owns 1,444 shares of the industrial products company's stock valued at $58,000 after acquiring an additional 1,014 shares during the period. Institutional investors own 93.89% of the company's stock.
Analyst Upgrades and Downgrades
TTEK has been the topic of a number of analyst reports. Maxim Group cut shares of Tetra Tech from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. KeyCorp upped their target price on shares of Tetra Tech from $34.00 to $41.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Finally, Robert W. Baird upped their price objective on shares of Tetra Tech from $31.00 to $33.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $41.00.
Read Our Latest Analysis on Tetra Tech
Tetra Tech Price Performance
Tetra Tech stock traded up $0.43 during trading hours on Tuesday, hitting $34.96. 691,157 shares of the stock were exchanged, compared to its average volume of 2,090,752. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.29 and a current ratio of 1.29. The stock has a market capitalization of $9.21 billion, a P/E ratio of 36.72 and a beta of 0.92. Tetra Tech, Inc. has a 12 month low of $27.27 and a 12 month high of $51.20. The business's 50-day moving average is $31.97 and its two-hundred day moving average is $34.93.
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 (EPS) for the quarter, topping analysts' consensus estimates of $0.31 by $0.02. Tetra Tech had a net margin of 4.81% and a return on equity of 22.58%. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period in the prior year, the business earned $0.28 earnings per share. Tetra Tech's quarterly revenue was up 25.9% on a year-over-year basis. Equities research analysts expect that Tetra Tech, Inc. will post 1.37 EPS for the current fiscal year.
Tetra Tech Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Friday, May 23rd will be issued a $0.065 dividend. This is a positive change from Tetra Tech's previous quarterly dividend of $0.06. This represents a $0.26 annualized dividend and a yield of 0.74%. The ex-dividend date of this dividend is Friday, May 23rd. Tetra Tech's dividend payout ratio is currently 37.68%.
Tetra Tech Profile
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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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